Capture and imaging technology (think emailing a PDF) is not exactly an area most would describe as cutting edge, but the space is compelling in size.
A recently released report from Forrester says a wave of technology is about to hit the sector, using new inputs through mobile devices that will incorporate advanced analytics, mobile solutions, business process management and case management. And a Canadian company, says Forrester, is helping lead the way.
“The Forrester Wave: Multichannel Capture, Q3 2012” evaluated evaluated eight multichannel capture vendors against 18 criteria across three main areas: vendors’ current offering, strategy and market presence. Authors Craig LeClair and Alan Weintraub found Waterloo’s OpenText (TSX:OTC) was one of three vendors to achieve a score of four or higher (out of five) in both strategy and current offering categories.
“OpenText’s capture solutions are part of a single, integrated family that is designed, built, and deployed as part of a comprehensive, end-to-end business solution,” said the authors, adding: “Capture is a building block of the OpenText ECM Suite and overall product portfolio strategy, including OpenText Business Process Solutions.”OpenText will continue to enhance a product strategy that distinctly articulates the integration of capture into its business solutions.”
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OpenText, which got a new leader last December when former Rackable boss Mark Barrenechea took the reigns, grew out of a collaboration between the University of Waterloo and the New Oxford English Dictionary, the project was a partnership with the Oxford University Press to computerize the Oxford English Dictionary. This engineers on this project realized that it required developing search technologies that could be used to quickly index and retrieve information. The search technology they developed, which incorporated full-text indexing and string-search technology, was recognized as being useful for other electronic applications. In 1991, at about the same time the Internet was emerging, the results of this project were commercialized by a private spin-off called OpenText Corporation.
A year ago, OpenText joined Research in Motion in the Waterloo billion dollar club, reporting fiscal 2011 revenues of $1.03 billion.
The company says their Capture Center is a key component of the OpenText Information Exchange suite of solutions, which are designed to facilitate efficient, secure, and compliant exchange of information inside and outside of enterprises. OpenText says its capture technology is part of a larger strategy designed to enable it to lead the market in Enterprise Information Management.
At press time, shares of OpenText were down 1.2% to $55.22.