Enterprises struggle to integrate unstructured documents like PDFs and slides into AI systems due to tools missing structural information or being too expensive. Cohere has released Parse 5, a vision language model designed to convert these documents into structured Markdown at an enterprise-friendly cost. While Parse 5 is not the most accurate according to Cohere's own benchmarks, it offers a superior price-to-performance ratio for large-scale deployment. Its single-pass architecture processes documents efficiently, preserving structure and meaning, which are crucial for understanding data. Parse 5 aims to solve the core problem of document parsing: preserving structural integrity beyond just reading text. The model supports multiple languages and offers different output modes for enhanced traceability. It is available through Cohere's API, Model Vault, Microsoft Foundry, and AWS SageMaker. Document parsing is identified as a key driver for enterprise AI adoption, with proprietary context residing within these unstructured documents. The real value of tools like Parse 5 lies in enabling AI agents to effectively utilize this information, not just extracting text. Therefore, enterprises should evaluate parsers based on downstream task accuracy rather than solely on benchmark scores.