San Diego, CA August 14, 2019— ancora Software is pleased to announce that in the last 90 days, it has signed up 60 new customers worldwide. Spread throughout North America, the U.K., and Australia, these businesses are using the innovative ancoraDocs platform to automate accounts payable and sales order processes. Built from the ground up to meet the demands of today’s users, ancoraDocs features an intuitive GUI and leverages a patented machine learning engine to enable users to hit the ground running, it also includes a patented Classification engine to automatically separate invoices and attachments.
“Historically, capture software has been cost prohibitive for many organizations that could benefit from it,” said Noel Flynn CEO of ancora. “ancoraDocs’ machine learning capabilities remove most of the professional services that drive up the costs of traditional document capture implementations. Users can start working with it right away, and, as they make corrections and validate their data, accuracy rates will automatically improve through the incorporation of ancoraDoc’s machine learning.”
ancoraDocs is available either on premise or as a true multi-tenant cloud service hosted by ancora on Microsoft Azure. It can also be deployed as a hybrid solution—utilizing zero footprint browser-based clients. “ancoraDocs is designed to bring simplicity to a market where applications have historically been complex and overpriced, as well as difficult to configure, install, use, and maintain,” said Flynn. “It can be deployed in a matter of hours or days, not the weeks or months you often see with traditional capture. This helps users start realizing their benefits sooner and produces a faster time to ROI. In addition, it opens up the market to SMB organizations, which have historically not been able to take advantage of automated document capture due to the significant costs of getting started.”
Flynn credits ancora’s partner channel for the recent growth surge. “The addition of several key strategic partners and the growing acceptance of our technology has provided us with the opportunity to add these 60 new customers over a three-month period,” said Flynn. “As we continue to grow our channel, we expect this significant growth to continue. We are currently in discussions with several additional large strategic global companies about adding ancoraDocs to their solutions portfolios.”
ancora’s open architecture allows for easy integration with ERP, ECM, and other third-party applications via multiple built-in export options. ancoraDocs is also scalable and can be deployed at large enterprises as well as in the SMB. “Currently we have customers processing less than 500 invoices or forms per month, up to customers processing hundreds of thousands per month,” said Flynn. “Our largest AP customer processes 500,000 invoices per month, including the capture of line-item detail, and our largest non-AP customer is processing 50 million forms per year”.
About ancora Software
ancora Software, Inc. is an innovative provider of Business Process Automation solutions including Intelligent Document Classification and Data Capture. ancoraDocs, our flagship product, was developed to bring simplicity to a technology that historically has been complex, over-priced, and difficult to configure, install, use and maintain. Our Business Process Automation solutions with patented artificial intelligence and machine learning technologies help companies eliminate costly manual steps in their business processes such as; document classification, document analysis, manual data entry, etc. Businesses using ancora Software achieve faster and less expensive business process automation and better controls over valuable critical information. Headquartered in San Diego, CA, ancora Software maintains sales and support operations throughout North America and the UK.
ancora Software Inc.
402 West Broadway, Suite 400
San Diego CA 92101