Kofax Technology Streamlines Information Capture for Portugal's Largest Telecommunications Firm.IRVINE, Calif. -- Kofax:
Ascent Capture Platform, VRS and Ascent Xtrata Technology
Dramatically Improve the Processing of Thousands of
Legal Documents at Portugal Telecom Communications and Help
Firm to Meet Legal Compliance Requirements
Kofax (LSE LSE - Language Sensitive Editor :DCM DCM abbr. Distinguished Conduct Medal ), the world's largest information capture vendor, today announced the successful results of an installation of its Ascent Capture(R), VirtualReScan(R) (VRS (Video Relay Service) A communications service for the hearing or speech impaired. A VRS is the video counterpart of a TTY relay service, in which the user types on a terminal, and the relay operator speaks the messages to the recipient (see TDD/TTY). ) and Ascent Xtrata(R) technology at Portugal Telecom Portugal Telecom (Euronext: PTC, NYSE: PT) is the biggest telecommunications operator in Portugal. It operates mainly in Portugal and Brazil. It also has a significant presence in Morocco, Guinea-Bissau, Cape Verde, Mozambique, Timor-Leste, Angola, Kenya, the People's Republic Communications (PT Communications). The overall solution for PT Communications optimizes the processing of thousands of customer-related documents, including multi-page contracts and related legal documents that are handled daily, and helps the firm meet regulatory compliance requirements Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). mandated by the Portuguese government. PT Comunicacoes (PT Communications), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Portugal Telecom Group, has the largest telecommunications infrastructure in Portugal and manages more than 4 million private telephone connections. Kofax Ascent Capture, VRS and Ascent Xtrata were implemented as part of an information capture system designed to speed the processing of more than 40,000 customer contracts and legal documents that PT Communications' employees handle daily. In addition, the information capture system was established by the firm to help prepare and maintain accurate financial records for regular audits performed by the Telecom Regulatory Agency regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. , the governing federal telecommunications organization in Portugal. "PT Comunicacoes' need to process a high volume of documents accurately within a strict timeframe demonstrates how organizations are leveraging information capture to enable more efficient business-critical processes," said Anthony Macciola, vice president of product marketing at Kofax. "Through our technology, large organizations -- especially those in paper-intensive industries such as telecommunications -- are able to streamline their business processes, increase operational efficiency, and grow their level of customer service." Prior to the Kofax information capture system, no automated validation of documents existed and manual processing techniques were causing a backlog of unprocessed data. With Kofax technology, the efficiency of document processing Processing text documents, which includes indexing methods for text retrieval based on content. See document imaging. has been greatly improved to the point that the average three- or four-minute document processing time now only takes 15 to 20 seconds per document. "Prior to implementing an information capture system, it would have taken 170 staff to process our current throughput of 40,000 documents per day, due to input errors that would have to be manually rectified," said Carlos Amorim, knowledge management consultant at PT-SI. "Kofax technology has enabled us to complete the same task with only 25 people, while nearly doubling our document processing capacity. We expect that we will see a significant return on our investment within the first year alone." In addition to implementing a system that would reduce the amount of staff personnel required to process large amounts of data, PT Communications needed a sophisticated means of delivering data to a database that would enable stored documents to be reviewed at a later time, then re-classified or re-routed should the need arise. To help implement a versatile information capture system capable of such requirements, PT Communications contacted Portugal Telecom Systems Integration (PT-SI), a Kofax Certified Solution Provider (CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P ) and advanced solution integrator of both telecommunications and information technology solutions. After a thorough pilot project involving two other competitors' capture solutions, PT-SI chose to implement Kofax's Ascent Capture platform, VRS and Ascent Xtrata, along with three Bell+Howell Copyscan 8100 Spectrum scanners, based on their ability to handle different types of unstructured documents and process large volumes of documents. "PT Communications receives thousands of documents per day, both in paper and digital format, so we designed and built a robust information capture system that could process documents regardless of the format or condition in which they were received," said Amorim. "The indexing and validation capabilities of the Ascent platform, VRS and Ascent Xtrata enhanced processing accuracy, seamlessly integrated into PT Communications' system, and improved the overall efficiency of their operations." About PT Communications, PT-SI and the Portugal Telecom Group PT Communications and PT-SI are wholly owned subsidiaries of the Portugal Telecom Group (NYSE NYSE See: New York Stock Exchange :PT), a global telecommunications operator and Portugal's leading telecommunications group, covering all segments of the telecom sector: fixed, mobile, multimedia, data and corporate solutions. Portugal Telecom's services are available in Portugal, Brazil and in growing international markets. The international presence of Portugal Telecom spreads to countries like Morocco, Guinea Bissau, Cape Verde Cape Verde (vûd), Port. Cabo Verde, officially Republic of Cape Verde, republic (2005 est. pop. 418,000), c.1,560 sq mi (4,040 sq km), W Africa, in the Atlantic Ocean about 300 mi (480 km) W of Dakar, Senegal. , Mozambique, Timor, Angola, Kenya, China and Sao Tome and Principe. Portugal Telecom is the company with the most number of transactions in Euronext Lisbon Euronext Lisbon is a Portuguese stock exchange headquartered in Lisbon. It belongs to the NYSE Euronext group, the first global stock exchange. Euronext Lisbon trades equities, public and private bonds, participation bonds, warrants, corporate warrants, investment trust , and it is also quoted on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The PT Group assumes its social responsibility before the community by its constant support which manages the various institutions, motivating its employees through a corporate voluntary policy. The company creates innovative solutions which try to facilitate life for customers with special needs, and it also takes part in education, the environment, cultural and sport activities. About Kofax Kofax, a division of DICOM (medical, standard) DICOM - (From Digital Imaging and COmmunications in Medicine) A standard developed by ACR-NEMA (American College of Radiology - National Electrical Manufacturer's Association) for communications between medical imaging devices. Group plc (LSE:DCM.L), is the world's leading provider of information capture software, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. research by Harvey Spencer Associates. Kofax products enable the automation of business processes by collecting paper documents, forms and e-documents from throughout organizations, transforming them into retrievable information, and delivering it all into line-of-business applications, databases and archives. The company's Ascent platform is the most popular information capture application worldwide, and its VRS (VirtualReScan) products is the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, for scanning productivity. Kofax products are widely used in finance, government, insurance, healthcare, and a broad range of companies and agencies that must capture critical business information from paper and electronic documents and forms. Kofax, Ascent, Ascent Capture and VirtualReScan are registered trademarks of Kofax Image Products Inc. All other trademarks and registered trademarks belong to their respective owners. |
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