Intelligent data capture: a trend only beginning Part 1

In application form processing, INDICIUS automatically extracts handwritten and printed information from forms and performs validation to ensure downstream business processes run as smoothly as possible. In mortgage processing, the presence of all the necessary documents is verified, and free-form technology extracts any required data. In records management, it automatically applies a file plan to a set of documents, reducing human error and the risk of non-compliance. Its mailroom application identifies document types within a mixed mailbag of correspondence, forms, invoices and so on, and automatically routes each piece to the correct workflow queue.

ReadSoft was one of the first to develop IDC for semi-structured and unstructured forms, with product rollouts in 1997 in Europe and 2000 in the United States.

"We believe we've got time-to-market and product maturation advantages over our competitors," ReadSoft's Fresneda says. Of the competition's moves in the past year, he adds, "We see the EMC acquisition of Captiva as solid. It helps validate the market in intelligent data capture."

Major ReadSoft U.S. customers include Allstate and Sherwin-Williams, and recent key contracts include Lockheed Martin and Sony of Canada. Worldwide customers include IKEA Porsche, Pfizer, BMW, Volvo and DaimlerChrysler.

Approximately 70 percent of revenues are driven through the indirect channel, the largest partner being Chicago-based SPSS. ReadSoft has integrations and relationships with ECM providers Open Text, FileBound, Liberty IMS, Digitech Systems, Westbrook Technologies and Hyland, and has closed deals with FileNet and IBM. In addition to certifications with Oracle and SAP, ReadSoft also includes Microsoft's Dynamics GP (Great Plains) accounting software.

ReadSoft DOCUMENTS for Invoices can automatically post transactions with no human intervention. INVOICES was the first invoice handling application to be certified for integrated use with SAP, and with a hundred customers, it is still the most widely used. The intelligent data capture market is an increasingly competitive marketplace. The rivalry is heating up, but there is a long way to go and a lot of territory to cover before the winners in this market are clear.

Part 2 of this article will review some additional vendors.