Captiva (NASDAQ:CPTV)
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From May 2019 to May 2024
Captiva Software Corporation (NASDAQ:CPTV), a leading
provider of input management solutions, today announced that the
Illinois Department of Revenue (ILDOR) has selected Captiva's Digital
Mailroom(TM), InputAccel(R) and FormWare(R) software products as a
comprehensive solution for processing tax forms and payment documents.
The value of the initial contract to Captiva is in excess of $100,000.
ILDOR will initially implement the solution to automate the
capture, classification and routing of nearly two million pages of tax
forms, remittance advices, checks and other paper documents and faxes
the department receives annually. The department plans to expand the
solution to capture and process additional incoming mail and paper
documents, eventually surpassing 10 million pages annually.
The solution will replace ILDOR's existing manual data entry
system. By utilizing optical character recognition (OCR) and
classification technologies to convert data from paper into electronic
content, ILDOR will enable the sharing of information between
departments and increase the efficiency of its processes while
concurrently achieving considerable cost savings. The Captiva solution
will export the captured and classified data and images to an
enterprise content management (ECM) system provided by IBM.
"ILDOR selected Captiva for its robust and scalable solution that
will easily be expanded to capture higher volumes of tax forms,
incoming mail and other documents in the future," said Howard Dratler,
Executive Vice President of Field Operations for Captiva. "Our success
with state and local government agencies is due to our in-depth
understanding of these customers' needs, the abilities of our
solutions to quickly and accurately process complex tax returns and
the proven return on investment we've delivered to our many government
customers."
The Digital Mailroom is automated classification and routing
software for digitized images of inbound mail and electronic
communications. InputAccel is Captiva's award-winning document capture
software and FormWare(R) is Captiva's flagship forms processing
software. By delivering accurate, timely and usable data to enterprise
applications, Captiva's input management solutions offer users reduced
operational costs, improved information quality and accelerated
business processes.
About the Illinois Department of Revenue
The Illinois Department of Revenue (ILDOR) serves as the tax
collection agency for state and local governments. The department also
administers the state's lottery, regulates the state's wagering
activities and regulates the manufacture, distribution and sale of
alcoholic beverages. The department oversees local property tax
assessments, collects delinquent child support on behalf of the
Illinois Department of Healthcare and Family Services, and functions
as the funding agent for the Illinois Housing Development Authority.
For more information, visit www.revenue.state.il.us/.
About Captiva Software Corporation
Captiva Software Corporation (NASDAQ:CPTV) is a leading provider
of input management 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
data streams into the enterprise in a more accurate, timely and
cost-effective manner. These products automate 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, manufacturing and other markets. For
more information, visit www.captivasoftware.com.
Digital Mailroom is a trademark, and FormWare and InputAccel are
registered trademarks of Captiva Software Corporation. All other
trademarks or registered trademarks are the property of their
respective owners.
This press release may contain forward-looking statements 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; and the difficulty of
keeping expense growth at modest levels while increasing revenues.
Announcements of contract awards should not be interpreted as
reflecting revenue in any particular period and may relate to revenue
recorded in prior or future periods (in some cases subject to
cancellation) or revenue recorded in multiple periods. 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 and quarterly
reports on Form 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.