Data extraction solutions have revolutionized data entry and play a key role in automating business processes and accelerating productivity like never before. However, not every solution is a perfect match for your specific needs and budget. So choosing the right tool is important for the success of your automation efforts. If you have tried Altair Monarch before,
Altair Monarch overview
Altair Monarch is a self-service data preparation and transformation software. It offers users a range of tools and functionalities to extract, clean, transform, and integrate data from various sources, including structured, semi-structured, and unstructured formats such as PDFs, spreadsheets, and text files.
With Altair Monarch, users can automate data extraction and perform complex data transformations without the need for extensive coding knowledge. The platform also offers advanced features such as data modeling, data blending, and data enrichment, allowing users to derive valuable insights from their extracted data.
However, and like any tool, Altair Monarch is not the ideal solution for every organization. So let’s go over the reasons you might have to switch from Monarch to another data extraction solution.
3 reasons you may have to look for an Altair Monarch alternative
You need to extract data from scanned documents
If your business receives a significant volume of scanned documents, with data inside that must be entered into a database, then you need a data extraction solution that can accurately process those documents. Unfortunately, Altair Monarch does not have Optical Character Recognition (OCR) capabilities, meaning it cannot extract data from scanned documents. The platform’s primary focus is structured data in native (digital) documents, so if you need to process scanned documents, then you should look for a solution with a powerful OCR engine.
You want an easy way to send data to a cloud app you use
Being able to send extracted data to the cloud applications seamlessly is essential for streamlining your workflows, enhancing productivity, and lowering costs — which is the whole point of adopting document processing tools.
Altair Monarch offers direct integration options with Microsoft SQL server and Oracle noSQL Database. The company’s website also mentions that their platforms can integrate with multiple CRMs, data warehouses, and reporting systems. However, it remains unspecified which platforms in particular. There’s also a REST API for custom integrations.
So depending on what kind of platforms you want to export your data into, Altair Monarch may or may not be the right fit for your business. For example, if you want to get a notification on Slack every time a document is parsed, or create new invoices on QuickBooks from data contained in PDFs, or customize presentation templates with data from documents, then you might want to look for an alternative that offers more integration options.
Altair Monarch can be pricey
Cost is an important factor when considering any software solution. While Altair Monarch provides a lot of great features, like web data extraction and data mining, the pricing may not align with your budget — especially if you don’t really need those unique features.
So if you’re seeking a more cost-effective Altair Monarch alternative, there are options available that offer essential data extraction features at a more affordable price point.
One such solution is Docparser, a no-code, web-based document parser equipped with a powerful OCR engine, advanced pattern recognition and keyword anchoring capabilities. This means you can pull data from any document, scanned or digital.
What you can do with Docparser
Docparser makes it easy to pull data from documents and either download it or export it to a cloud application or even an HTTP endpoint. Specifically, you can:
- Import documents via direct upload, a storage provider, email attachments, and even Docparser’s rest API — you can fetch batches of documents from anywhere
- Extract data from scanned documents via OCR
- Create logic-based rules for any kind of document — essentially, you outline the data fields you want and customize the extraction results until they’re perfect
- Set up multiple document parsers for different use cases quickly with pre-set templates
- Download extracted data as XLS, CSV, JSON, or XML
- Integrate with any cloud applicatiOn: Google Sheets, Microsoft Power Automate, Salesforce, and most importantly Zapier which lets you connect your Docparser to thousands of cloud apps, making it possible to send data anywhere in the cloud
- And a lot more
For all these features (and more), Docparser’s pricing doesn’t target large enterprises only. Instead, any business, big or small, can use Docparser for their data extraction needs without necessarily paying a hefty subscription.
Closing thoughts
Choosing the right data extraction solution is paramount for businesses seeking to streamline operations and enhance productivity. To make an informed decision about the ideal data extraction solution for your business, you should conduct a thorough comparative analysis. If you’re not sure whether to go with Altair Monarch or Docparser, we recommend you check this page for a detailed comparison of those two solutions. You will learn a lot of details to help you decide which one is better for your requirements and budget.
