DocsCorp clarify the DocuComp Acquisition
DocsCorp clarify the DocuComp Acquisition
March 25, 2008: Document comparison and merging is a big deal for many in the legal and financial market, but DocsCorp explain that this is set to spread to almost every industry and the DocuComp acquisition puts them in a ripe position to take advantage.
With this acquisition, DocsCorp believe they have gained access to the most mature and sophisticated text comparison technology in the software industry. The DocuComp software takes text documents that have been emailed out of the business and compares them with the original to ensure that there are no modifications and if there are it displays them on screen. The software can work as a standalone product or fit inside existing document management software suites from several existing vendors.
David Woolstencroft, senior vice president of worldwide sales and marketing at DocsCorp explains that basically anybody at all who is exchanging documents would benefit from comparison and merging technologies. “If we’re exchanging contracts between us, I can check your document to see what changes if any have been made, which adds to security and risk mitigation,” he said.
DocsCorp actually has more US customers than those in the Asia Pacific, though the company expects to be able to pickup more customers in the region thanks to strong server functionality and the ability to compare documents down to the character level.
Woolstencroft explains that the acquisition of DocuComp gives them access to the source code, which allows further changes to the document comparison engine and allows it to be updated for sophisticated workflow.
The pair of companies had actually been working together closely for some time, with a mutually beneficial partnership arrangement being entered into in 2006. According to Woolstencroft what attracted them to acquire the company was the fact they’ve been in the business for a long time, were easy to work with and were a market leader.
“We really came from a PDF angle and we saw what people wanted to do in areas like legal, government and accounting which made us realise that people want to actually take documents and compare it with the original, to see what’s come back and complete the loop”
Woolstencroft believes this will boost DocsCorp’s market share significantly and put them in an ideal place to emerge as a market leader, particularly now that their server and desktop portfolios have been strengthened.