Notable Solutions, Inc. (NSi), a leading developer of distributed content capture and workflow solutions, today announced that it has achieved record revenue for its fiscal year ending June 30, 2011, reporting year over year growth of 35 percent. The company´s outstanding performance was driven by record software license, maintenance and services revenue coming from each of its North American, Latin American and European operations. Profitable and cash flow positive, NSi continues to build on its market momentum which has resulted in an impressive 37 percent CAGR over the past three years.
NSi was cited as a major player in the capture market segment. (Photo: Business Wire)
NSi attributes its success to several factors, including the increased adoption of both Multi Function Device (MFD) and desktop application based document capture and the industry acceptance of its flagship product, NSi AutoStore TM, which is being utilized by more than 8,000 organizations worldwide. During its fiscal year 2011, Notable Solutions added over 3,000 new customers alone. While growth in the capture market segment is predicted to grow by 15 percent a year, based on a July 2011 report by Harvey Spencer Associates, NSi´s performance is more than double that prediction and ranked number one in its segment in the report.
"NSi has delivered remarkable earnings this year, even in the face of continuing economic challenges," said Mehdi Tehranchi, Chief Executive Officer at Notable Solutions, Inc. "We´ve also gained significant recognition from analysts and customers, verifying that AutoStore provides the powerful benefits demanded for their businesses "´ scalability, security, easy integration and broad device support. The expanded use of our electronic file capture products such as AutoCapture has also made a major impact to our customer´s productivity and NSi´s bottom line this year."
In further 2011 highlights, the company was cited as a major player in the "Competitive Landscape: Software Solutions for Smart Multifunctional Products (SMFP), Worldwide, November 2010," report by Gartner, Inc. AutoStore also outpaced its competitors by generating 4+ stars in 12 categories in a capture study released in May by AIIM.
In addition, the company added hundreds of new customers, including Symantec Corporation, the Department of Veterans Affairs, Nomura Securities (U.S. and Europe), Banco de Chile and Google Brasil.
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