This guest post comes from Jennifer Cobb at Captricity:
Captricity Transforms Static Data into Open, Machine Readable Information
Open data and transparency are central commitments for Captricity. Our technology was developed to meet the needs of rural health workers in sub Saharan Africa and further incubated as part of the Code for America program. As a startup, we are driven by our mission to unlock the data that drives the world forward.
How do we do it? Captricity’s web-based service extracts data from paper, fax and pdf forms into actionable data in hours with 99% accuracy. We excel in terms of speed and accuracy, achieving double-entry quality in a fraction of the time that manual entry takes. We have pioneered a unique blend of machine learning and human intelligence that ensures accuracy for all types of text, including handwriting and human marks. And our unique approach to privacy safeguards the protection of sensitive data. In fact, we recently received an ATO from a major federal agency, clearing the FedRAMP moderate risk impact level review for cloud service providers.
Captricity and the DATA and Financial Industry Transparency Acts
The two open data acts now in front of Congress have the capacity to reduce spending, increase efficiency and transparency, and create jobs. But in order for them to gain real traction, data has to be released from paper and pdfs into a machine-readable format. As the Data Transparency Coalition notes in its overview of the Financial Industry Transparency Act, most “financial regulatory filings are still collected as documents – paper, PDF files, plain-text HTML – instead of using structured data formats like XML and XBRL.”
In our experience, this is also the case in many federal agencies, at all levels. This static data remains one of the biggest roadblocks to implementing Open Data policies, in areas ranging from spending to financial regulation and beyond.
That’s where we can help. We believe that when serving multiple constituencies, as every government department does, there can be considerable obstacles to implementing fully digital solutions on all reporting entities.
For example, the largest banks may have the resources to submit filings in digital formats that meet the standardization demands of the Financial Industry Transparency Act, but for many local and regional banks, paper and PDFs will be necessary elements in their regulatory compliance strategy. Beyond the constraints imposed by legacy systems and processes, we have found in our work with federal, state and local government that paper plays a valuable role in data collection and reporting. Most people know how to use pen and paper, it is readily available, training is minimal and it has a low failure rate. Why not have your paper and your data too? That is the opportunity that Captricity offers to all of its clients.
Captricity at Data Transparency 2013
We are excited to be attending Data Transparency 2013. We will be available throughout the day at the Captricity table in the main conference hall. Please stop by and we can show you how Captricity transforms static data trapped on paper and pdf forms into actionable, machine-readable open data.
Visit our open data site at www.opendataimpact.com to find out more.