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Gwabbit makes it much easier to create or update contacts in Microsoft Outlook. This $20 program (14-day free trail) automatically recognizes contact information in an e-mail signature, and can quickly pull that info into an Outlook contact for you.
The utility adds new toolbar buttons to Outlook that start out on their own toolbar, but can be pulled onto an existing toolbar to save space. For most e-mails, gwabbit will recognize new contact information and display a small pop-up with a button you can click to add the discovered info to a new Outlook contact.
It automatically fills common fields (such as job title, phone number, and e-mail) with information it finds in the signature. You can click an "Improve Results" button to direct it towards contact info in a signature that it might not have found on its own. You can also click the gwabbit button in the toolbar to have it act on a message when you don't get the automatic pop-up.
Gwabbit will also offer to update an existing contact if it sees new information, but it will probably miss data that's not in a signature. For example, I received an e-mail about a friend having moved, with a subject line of "New address" and the address in the body of the message, and gwabbit couldn't pick it up automatically or after my clicking the toolbar button.
Still, in most cases Gwabbit would likely make managing your contacts a good deal faster. If you use Outlook and juggle a large list of contacts, the app could be well worth the $20.