The Oldest U.S. Stock Transfer Company Automates Archive System With Captaris Alchemy
August 08 2006 - 8:00AM
PR Newswire (US)
Registrar and Transfer Company Enables Instant Access to Archived
Data and Improves SEC Compliance Process BELLEVUE, Wash., Aug. 8
/PRNewswire-FirstCall/ -- Captaris, Inc. (NASDAQ:CAPA), a leading
provider of software products that automate document-centric
business processes, today announced Registrar and Transfer Company,
the oldest U.S. stock transfer specialist, is using Captaris
Alchemy(R) Document Management to archive and retrieve documents
and emails related to stock transactions. After deploying Alchemy
within only six weeks, Registrar & Transfer (R&T) now
processes transactions faster and at lower cost, retrieves files
instantaneously instead of a 24 hour delay, and has improved its
archiving process for SEC compliance. R&T handles high-volume
corporate stock transfers-with as many as 100,000 documents per
project-and needed an efficient and scalable document management
solution. The company uses OCR for AnyDoc and document scanners to
capture the paper documents directly into the Alchemy digital
repository where they are automatically indexed and data is posted
to the mainframe. As a result, R&T no longer has to hire
temporary workers to perform manual data entry from paper. In
addition, employees can now retrieve archived documents almost
instantaneously instead of waiting up to 24 hours. The use of
Alchemy has significantly reduced exposure to liability or
potential financial loss due to error -- a result Wade said could
account for full return on investment (ROI) on its own: "The
potential exposure that existed with our old system was so great
that if there were ever a problem, our costs would have been many
times higher than the investment we made in Alchemy." Prior to
installing Alchemy, R&T investigated other storage and archival
products. "I wasn't pleased with other solutions; they don't offer
the same flexibility for arranging archives or indexing databases,
and they still required an awful lot of manual intervention," said
Lynwood Wade, vice president of Information Systems for R&T.
Built on a modular design, Alchemy provides R&T with a variety
of integrated tools to build out their solution as needed. For
example, to meet SEC requirements for storage of electronic
correspondence R&T installed the Exchange Archive Link for
Alchemy module to capture emails from its Microsoft Exchange server
into the Alchemy repositories. According to Wade, Alchemy will
provide excellent recovery for deleted files as well an audit trail
for ensuring appropriate email use. The company also plans to
provide online file access to employees and clients via the Alchemy
Web Server. Wade estimates up to 600 users will eventually use the
Web Server to access up-to-the-minute reports. He also plans to
expand the use of Alchemy to track initiation of new accounts,
archive cancelled stock and record all shareholder correspondence.
R&T worked with Captaris partner CPT Intelligent Technologies,
Inc., to install their Alchemy and OCR for AnyDoc system.
Headquartered in Flemington, New Jersey, CPT specializes in
implementing imaging and document management solutions and has
provided such solutions for business and industry since 1957. For
more information, visit http://www.cptinfo.com/ . About Captaris,
Inc. Captaris, Inc. is a leading provider of software products that
automate business processes, manage documents electronically and
provide efficient information delivery. Our product suite of
Captaris RightFax, Captaris Workflow and Captaris Alchemy Document
Management is distributed through a global network of leading
technology partners. We have customers in financial services,
healthcare, government and many other industries, and our products
are installed in all of the Fortune 100 and many Global 2000
companies. Headquartered in Bellevue, Washington, Captaris was
founded in 1982 and is publicly traded on the NASDAQ National
Market under the symbol CAPA. For more information please visit
http://www.captaris.com/ . NOTE: The following are registered
trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax,
Captaris Document Management, Captaris Interchange and Captaris
Workflow. All other brand names and trademarks are the property of
their respective owners. DATASOURCE: Captaris, Inc. CONTACT: Barrie
Locke of Ripple Effect Communications, +1-585-377-1839, or , for
Captaris, Inc.; or Dan Lucarini of Captaris, Inc., +1-303-930-4405,
or Web site: http://www.captaris.com/
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