Friday, June 29, 2012

Slew of Large Capture Deals

As we mentioned yesterday, there have been a number of large capture software deals announced in the past couple weeks, by market leaders. Here's a look a few of them:

Brainware Announces $7.5 million Deal: Brainware, now a wholly owned subsidiary of Lexmark, under its Perceptive subsidiary, announced a huge deal with the Dominican solutions and service provider Novosit. I am not at all familiar with Novosit, and its Web site is in Spanish, but Hyland, Kofax, Fujitsu, and ABBYY products are all listed. Novosit will both "use and distribute" Brainware's intelligent data capture software. We're assuming this is a multi-year deal. Brainware specializes in large deals, having announced they closed more than 10 deals worth over $1 million in 2011.

Top Image Systems (TIS) continues to build on its recent momentum. TIS recently announced four wins in Europe that combined account for over $1 million in revenue. In addition, TIS announced a $1.2 million deal for software to process the 2013 Bosnia and Herzegovina Population Census. This continues a string of successes for Top Image in the census market, which by our account includes at least a dozen wins worldwide in the past couple years. TIS also announced an expansion of its implementation with the Czech Post - one worth several hundred thousand dollars to TIS. The Czech post, as well as several other European postal services that TIS has contracts with, acts as a service bureau for processing payments and documents - a business DIR has long encouraged the USPS to get involved with. The bottom line is that TIS, which reported $7.7 million in revenue in Q1 has announced somewhere of around $3 million in software sales in just that last couple weeks.

ReadSoft recently announced a couple of invoice processing deals totaling more than $700,000.  Both are in A/P in SAP environments, which has been ReadSoft's sweet spot for awhile now.

Finally, Kofax recently announced a couple of A/P wins totaling more than $1 million. One is with "a leading provider of security and related monitoring services for homes and businesses in North America," which is adding KTM and MarkView to its existing Kofax Capture implementation. This other is with a leading supplier of components to the automotive engine industry, which is implementing multiple Kofax products, including Capture, KTM, MarkView, MarkView Advisor, SupplierExpress, and e-Transactions for integration with an SAP system.

2 comments:

Ben Katz said...

Interesting article. Hopefully this will carry forward to all in the business.

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