ABBYY FormReader Selected by Altec for Automated Forms Processing

Strategic Alliance Puts Award-Winning Handling of Unstructured Forms into the Hands of Solution Providers, Integrators and VARs

Fremont, Calif., May 23, 2007 – ABBYY, a world leader in the development of document recognition, data capture and linguistic technologies, today announced it has formed a strategic partnership with Altec, a leading provider of Integrated Document Management (IDM) solutions. Under this new alliance, ABBYY will customize its data capture products and integrate them with Altec’s Doc-link™ 2.5 IDM system.  As a result, Doc-link 2.5 customers can use ABBYY FormReader with FlexiCapture technology to scan and extract data from forms or documents, such as invoices or contracts, and automatically export that data to Altec Doc-link for management.

“Altec leads in providing mid-market users with enterprise-grade document management solutions that integrate closely with their accounting systems,” said Dean Tang, president and CEO at ABBYY USA. “The typical cost barriers for forms processing in this market segment are greatly reduced through this alliance. By working together, ABBYY and Altec can provide a comprehensive solution at an SMB-friendly price.”

In addition, the ABBYY FlexiCapture Studio will be made readily available to Altec’s reseller partners, enabling them to add automated and accurate data capture and forms processing to their offerings. ABBYY FlexiCapture Studio extends the capabilities of ABBYY FormReader and its FineReader Engine SDK. The tool helps to extract data from semi-structured forms and documents, such as invoices, claim forms, resumes, contracts, or loan documents. It is designed to help developers, VARs and integrators who want to expand their business and supply their clients with reliable and effective data capture solutions.

"Altec's accounting and ERP customer base are interested in leveraging the benefits of intelligent data capture as part of their Doc-link solution,” said Brandt Morrell, president and COO at Altec.  “ABBYY’s innovative solutions provide the ease of use and accuracy to meet these demands.  Partnering with ABBYY offers an integrated and affordable forms solution to our Doc-link partner channel as well as the end user community”

Doc-link allows users to archive information, process through workflow and retrieve and research document transactions from the desktop, thereby increasing productivity and improving communications with customers, vendors and employees. Altec’s Doc-link document imaging and workflow solutions are tightly integrated with Microsoft Dynamics, Sage, Epicor and the SAP Business One accounting and ERP solutions.  Paper intensive processes such as Accounts Payable, Accounts Receivable and Sales Order Processing can be automated through these integrated Doc-link solutions. 

ABBYY USA is subsidiary of ABBYY Software House Group, a world leader in document recognition and linguistic technologies.  ABBYY specializes in the development of software for optical character recognition (OCR), intelligent character recognition (ICR), linguistics, semantics, and electronic lexicography.  Leading products from ABBYY include the FineReader line of recognition software and development tools, and FlexiCapture line of dynamic data capture solutions.  Companies that license ABBYY’s recognition technologies include Anoto, Banctec, BenQ, Cardiff, DICOM/Kofax, EMC, EPSON, Freedom Scientific, Fujitsu, Kurzweil, Microtek, NewSoft, Notable Solutions, Stellent, Panasonic, ReadSoft, Samsung Electronics, Saperion, Siemens Nixdorf, Sumitomo Electric Systems, and Toshiba.  The ABBYY Group Headquarters are located in Moscow, Russia with offices in Ukraine, the United States, the UK, Japan, and Germany. For more information, visit http://www.abbyy.com/.

About Altec
Altec is the leader in accounting centric document imaging and workflow management software solutions. Altec enables organizations to unleash the power of their accounting package and enhance productivity and communication among its customers, employees and vendors. Offering a variety of products from customizable paper based documents, to enterprise wide electronic document management, MICR check printing solutions, Print to Mail, Pressure Seal and more, Altec specializes in helping companies migrate to a paperless office environment. Altec is headquartered in Laguna Hills, California with an office in Tacoma, Washington and affiliates nation wide. For more information about Altec, their products, or services, please visit the company’s website at www.altec-inc.com or call (800) 997 9921.

ABBYY, ABBYY Logo, FineReader are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.

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