Parascript Receives Prestigious STAR Supplier Award From Lockheed Martin

-- Leading image analysis and pattern recognition technology provider awarded for work with Lockheed Martin in exceeding mail processing requirements for the United States Postal Service --

Jun 15, 2010, 06:00 ET from Parascript, LLC

BOULDER, Colo., June 15 /PRNewswire/ -- Parascript, LLC, the image analysis and pattern recognition technology provider, was awarded the prestigious STAR Supplier Award by Lockheed Martin for its performance and contribution to the success of the United States Postal Service (USPS) Remote Computer Reader (RCR) system. The award recognizes Parascript's achievements in working with Lockheed Martin in meeting some of the most stringent performance criteria in the mail processing industry.

First established in 1999, Lockheed Martin's STAR Supplier Award is an effort to quantitatively measure supplier quality and to create a group of preferred suppliers, based on the areas of quality, affordability, delivery and management/administration.

Parascript was recognized, in particular, for providing highly advanced and reliable Optical Character Recognition (OCR) software for handwritten address recognition and interpretation on letter mail pieces with its AddressScript technology. The primary purpose of the AddressScript OCR system is to work closely with Lockheed Martin's advanced mail processing technology to meet and exceed requirements of the USPS.

"We value Parascript's contributions to help us continually exceed expectations for USPS," said Rod Makoske, vice president of Lockheed Martin's USPS programs business, "and we are happy to award it a STAR Supplier Award for consistently delivering excellent OCR technology."

"As a company that is dedicated to providing quality software and staying at the forefront of the industry, we, at Parascript, have found a wonderful partner with Lockheed Martin," said Alexander Filatov, president and CTO for Parascript. "We are proud to support Lockheed Martin and the USPS and respectfully accept this prestigious award."

About Parascript, LLC

The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection, and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government, and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Bowe Bell + Howell, CheckFree – now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens, and Unisys. Parascript is online at

SOURCE Parascript, LLC