In the document management space, it was always going to be interesting to see who would get the ball rolling for 2012. Kofax, as one of the most active companies last year in terms of product development and acquisitions, looks set to continue its momentum, this time with the release of Kofax DotImage Enterprise Edition.
DotImage, you may recall, was Atalsoft’s flagship product until it got gobbled up by Kofax, which said at the time of the acquisition that it didn’t envisage changing the direction DotImage was going, but would continue its development.
The release of the Enterprise Edition appears to be in keeping with that promise. With it, enterprises can enable browser-based portal applications with document scanning, viewing, annotating and processing capabilities.
But it does more than that. It also extends capture beyond the enterprise firewalls to include line of business applications that are accessible via the web at the point where information originates.
The result, Kofax says, is the extension of a common capture architecture across the enterprise that will ultimately reduce operating costs and accelerate the processing times of information as well as improving compliance.
Kofax itself offers the example of mortage applications. Traditionally, proof of identity, income and other supporting legal documents had to be done using hard copy; with the Enterprise Edition, it can all be done electronically.
Obviously, this is only an example and there are many different places that come to mind where there are legal issues associated with documents and where this could be used effectively.
By extending our capture platform directly to the user, businesses can better leverage capture enabled BPM solutions that automate critical business processes throughout the enterprise and deliver a faster return on investment," Martyn Christian, Chief Marketing Officer at Kofax, said.
DotImage, though has been around for quite some time and was one of the main things Kofax was going after when it bought Atalasoft last year.
There were a number of new updates over the year, including support for tools such as Microsoft Silverlight. Atalasoft also kept expanding its compatibility so it could support documents in dozens of formats including TIFF, PDF, PDF/A, JPEG, CAD/CAM and DICOM.
It also came with a barcode-writing toolkit and TWAIN support for capturing digital images from cameras, scanners and other devices.
So DotImage was going along quite nicely when Kofax came in and bought it last May.
But it’s not the only thing it bought over the course of 2012, with the pre-Christmas acquisition of Singularity, a business process management provider, for US$ 48.1 million in cash, pushing it further into the business process management space.
Reynolds C. Bish, CEO for Kofax, said the Singularity purchase will enable its existing customers to manage information as it flows through clients' organizations, expanding Kofax’s reach beyond capture into the BPM market.
The acquisition significantly increased Kofax’s addressable market, in a core capture market expected to grow from US$ 2.2 billion in 2010 to US$ 2.9 billion in 2013 at a 10% compound annual growth rate.
It will also make it the first company to offer a capture-enabled BPM platform, which will provide differentiated software product and solution offerings in both the capture and BPM markets.
With the release of the enterprise edition, Kofax has already put its stamp on the New Year. There will undoubtedly more coming from this direction as the year progresses.