Armonk’s finest feel the squeeze, go for content capture bellwether
ECMPlus.com – IBM has acquired Datacap, the data capture specialist for an undisclosed sum.
According to the company, the acquisition will strengthens its play for digitising, managing and automating information assets, particularly in paper-intensive industries such as healthcare, insurance, government and finance, the firm added.
IBM said regulations such as HIPAA and Sarbanes-Oxley have demanded new standards and now legislation is compelling firms to adopt new records management practices, including scanning and capture to increase accuracy and speed up business processes to meet regulations.
Datacap customers are currently using document capture and enterprise content management software to streamline and transform their businesses. More than 200 clients across a variety of industries use Datacap software to help capture and manage their data. These include the Chicago Department of Public Health, Virginia Department of Taxation, BlueCross BlueShield of Arizona, Goodyear Tire & Rubber Company, The Dutch Tax Office, Dow Jones & Company, California’s Orange County Superior Courts, Hawaii Department of Taxation, and St. Vincent Hospital and Health Care Center.
Industry estimates of 15 petabytes of new information is being generated daily, and 80% of this new information is unstructured content.
But extracting meaningful information from unstructured content, both paper and electronic, is critical, IBM stated. The company claims that Datacap speeds up this process by automating the conversion of both structured and highly-variable formats such as email, JPEG and GIF image files and PowerPoint presentations, into what they call ‘actionable insight’ in seconds.
“Transforming the way organizations do business requires not only a powerful and flexible technology platform to accommodate the wide range of business requirements, challenges and goals, but also a deep understanding of the processes of the industries in which our clients operate” said Ron Ercanbrack, VP of Enterprise Content Management for IBM. “We’ve chosen to make Datacap’s approach the foundation of IBM’s document capture strategy. Datacap’s approach to image capture, using sophisticated business rules management, sets it above the rest in the industry and provides the most complementary capabilities for IBM.”
“Datacap has developed the most advanced and flexible document capture platform on the market today. By teaming with IBM, we will now have the reach to satisfy customer demand around the globe,” said Scott Blau, former CEO of Datacap and now Director of Enterprise Content Management for IBM. “After fifteen years partnering with IBM, we’ll hit the ground running with products that are tightly integrated into the IBM ECM offerings and can compete across the board in document capture.”
IBM will merge Datacap into its ECM business, part of its Software Solutions Group.