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PDF.co's document parser allows for the extraction of specific text, such as invoice numbers, from numerous documents. It supports various formats for downloading or exporting results, including CSV, XML, and JSON, enabling users to repurpose extracted text for other documents. The parser handles a range of documents, including purchase orders, airline tickets, lab reports, and insurance requests. The tutorial introduces the PDF.co online template editor, where users can create or edit templates for PDFs or image files. An example of a sample Google invoice is used to demonstrate template creation, which is initially set to English by default.