It seems like just the other day, I was writing about Kofax being handed off from one private equity firm to another, like a couple of kids with trading cards. While it might not have been literally the other day, it wasn’t long ago.
And here we are, with Ephesoft being bought by the same private equity firm that recently bought Kofax.
I’d like to say I was shocked, but that’s not the case - we all knew something like this would happen.
That’s how private equity gets their money out of their investment - they have to sell the asset to realize the investment. It’s the goal of every founder in Silicon Valley - to build up a company and get bought out, making millions in the transaction.
And I say good for them.
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But What Does This Mean for the Customer? Price Increases!
But it doesn’t bode well for the poor customer. What’s to become of Ephesoft’s customers? Two things:
- The customer is left with technology that won’t be upgraded or maintained.
- A price increase is destined, for sure. How else is the new owner going to make a profit on their investment?
Also, many new document processing companies are popping up, making huge claims with AI and document processing. And all of them are getting some sort of venture capital funding.
That means an ownership change is in their future as well. It’s the only way for investors to get their money out. It’s just the way business works.
So, Are There Any Similar Solutions Not Beholden to Outside Investors?
This consolidation and resulting lack of innovation are why we built Grooper. We were tired of having to write hundreds and hundreds of lines of custom code to accomplish what our clients needed.
Grooper is a BIS product — 100% developed, supported, and maintained out of our main office in Edmond, Oklahoma, just north of Oklahoma City.
BIS is debt-free and has no external investors. This means we can choose to follow the innovation our clients need instead of squeezing our existing customers. And we’re not beholden to outside investment.
We’re proud of what we’ve built. Maybe a little too proud sometimes, but we’ve accomplished something spectacular. In an industry where companies with less functionality are getting bought and sold for billions, we quietly keep plugging away at the hardest use cases and keep getting incredible results for our clients.
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How to Solve Tough Document Data Problems
We love to talk about data problems, and show you how we solve them. All it takes is:
- Some sample documents from you and
- A little time to let us show you how we would approach your specific problem - with your documents
Our customers see a drastic reduction in processing times — from months to days, from days to hours, from hours to minutes. Grooper has unlimited processing power, so we can get the data you need as fast as you need it.
Contact us today to find out how!