Captiva Wins $3.3 Million Contract to Enhance State-of-the-Art Scanning Facilities For SOURCECORP.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--March 11, 2003 Captiva to Provide IBML IBML Imaging Business Machines, LLC (Birmingham, AL) IBML Ion-Beam Materials Laboratory Scanners with Its Information Capture Software to Enable SOURCECORP to Process More Forms, Expand Business Offerings Captiva Software Captiva Software is now part of EMC Software Group, a division of EMC Corporation.[1] Captiva makes software solutions for document information processing and data capture from paper and electronic documents and provides related services. Corp. (Nasdaq: CPTV CPTV Connecticut Public Television ), a leading provider of input management solutions, today announced a major contract with SOURCECORP (Nasdaq: SRCP SRCP Simple Railroad Command Protocol SRCP Simple Resource Coordination Protocol (Cisco) SRCP Special Reserve Components Program SRCP Simple Resource Control Protocol ), a leading provider of business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in solutions, in which Captiva will implement 14 IBML ImageTrac(R) II scanners with its FormWare(TM) information capture software to significantly enhance scanning and document capture capacities within two SOURCECORP facilities. Such capabilities will allow SOURCECORP to expand its service offerings to its growing customer base. The value of the contract to Captiva is approximately $3.3 million, which should be realized within calendar year 2003. Once these high-speed scanners are installed and integrated by Captiva, SOURCECORP will have the capacity to capture and process over 2 million pages daily in the current 24-hour, 7 days-a-week operations schedule. These enhancements to SOURCECORP's service platforms will enable the company to expand its document processing Processing text documents, which includes indexing methods for text retrieval based on content. See document imaging. capabilities and quality-centered processes to continue to provide excellent service to its customers. "By adding these advanced scanners in conjunction with Captiva's robust information capture software within our enterprise-wide service platform, we will be able to process considerably higher document volumes to best meet the growing needs of our customers," said Steve Davis For other people with this name, see . Steve Davis, OBE, (born August 22, 1957, Plumstead, London[3]) is an English professional snooker (and to a lesser extent pool) player. He won 6 Snooker world titles during the 1980s. , SOURCECORP's chief technology officer. "We're pleased to continue our relationship with Captiva to provide us with a complete information capture solution through a comprehensive software, hardware and system integration package." The latest contract expands Captiva's longstanding relationship with SOURCECORP, which has used Captiva's software for many years, and in 2002 upgraded its FormWare system to an enterprise-wide platform for capturing images and data from health claims, credit card applications, and tax, transportation, financial, government and other business documents. "We're pleased to expand our relationship with SOURCECORP, whose selection of Captiva to enhance its scanning facilities further solidifies our leadership position as a complete, end-to-end input management solution provider," said Blaine Owens, Captiva's vice president of worldwide sales. "By combining IBML's high-speed scanning capabilities with FormWare's unsurpassed data and image capture abilities, SOURCECORP is continuing to strengthen its already robust high-volume services platform for providing its customers premium business process outsourcing solutions." FormWare is Captiva's flagship information capture software that manages business-critical information from forms, documents and electronic data streams into an enterprise in an accurate, timely and cost-effective manner. This information can then be exported to database, document, content and other information management systems, helping to maximize the accuracy and value of the data, speed the capture process, increase productivity and significantly reduce the cost of manual operations. FormWare is used by companies worldwide to extract information from forms of all types, including medical and other insurance claims, invoices, credit applications, tax returns, order-entry forms and many other documents. About SOURCECORP SOURCECORP Inc. is a leading provider of value-added business process outsourcing solutions to clients nationwide. SOURCECORP targets information intensive, technology oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. , application driven industry segments, such as healthcare, legal, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and government, leveraging its expertise and experience in business processes for these and other similar business profiles. Headquartered in Dallas, the company employs approximately 9,000 people and operates in over 40 states, Washington D.C., Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. and Mexico. SOURCECORP is a component of both the S&P SmallCap 600 Index and the Russell 2000 Index Russell 2000 Index An index measuring the performance of the 2,000 smallest companies in the Russell 3000 Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000 serves as a benchmark for small-cap stocks in the United States. . In June 2001, the company was cited among the Top 100 Hot Growth Companies by BusinessWeek magazine. SOURCECORP has previously been recognized twice by Forbes magazine as one of the 200 Best Small Companies, based on return equity, sales growth, and EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. growth, and by FORTUNE magazine as one of America's 100 Fastest Growing Public Companies. For more information about SOURCECORP's solutions, visit www.srcp.com. About Captiva Software Captiva Software Corp. (Nasdaq: CPTV) is a leading provider of input management software solutions. Since 1989, the company's award-winning products have been used to manage business critical information from paper, faxed and scanned forms and documents, Internet forms and XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. data streams into the enterprise in a more accurate, timely and cost-effective manner. These products automate To turn a set of manual steps into an operation that goes by itself. See automation. the processing of billions of forms and documents annually, converting their contents into information that is usable in database, document, content and other information management systems. Captiva's technology serves thousands of users in insurance, financial services, government, business process outsourcing, direct marketing and other markets. For more information, visit www.captivasoftware.com. FormWare and its logo are trademarks of Captiva Software Corp. ImageTrac is a registered trademark of Image Business Machines Inc. All other trademarks or registered trademarks are the property of their respective owners. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, as well as assumptions that, if they prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, among other things, any projections of earnings, revenues (including where the underlying contract has already been signed), or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include, among other things, performance of contracts by customers and partners; employee management issues; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; the difficulty of keeping expense growth at modest levels while increasing revenues. These and other risks and factors that could cause events or our results to differ from those expressed or implied by such forward-looking statements are described in our most recent annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and quarterly reports on Form 10-Q Form 10-Q See 10-Q. , as well as other subsequent filings with the Securities and Exchange Commission. We assume no obligation and do not intend to update these forward-looking statements. |
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