Ephesoft is one of several local software companies whose products help speed up the handling of documents and invoices; others include cross-town rival Kofax Inc.
Customers use Ephesoft’s technology to automate any document-based business processes or task, improving accuracy, increasing efficiency and reducing costs.
The privately held firm said earlier this month its Transact Web Scanner version 20.x was recertified for use to handle Air Force travel vouchers to automate the process. The original certification came in 2018 and is subject to periodic review. No financial terms have been released.
The company is also working toward an all-important cybersecurity approval from the federal government known as FedRAMP. The approval, expected in October, will help gain more government business and is also a selling point for commercial companies.
FedRAMP stands for the “Federal Risk and Authorization Management Program.” It standardizes security assessment and authorization for cloud products and services used by U.S. federal agencies. The goal is to make sure federal data is consistently protected at a high level in the cloud.
“Ephesoft is seeing an increase in business opportunities from the government, public and private sectors alike,” founder and CEO Ike Kavas told the Business Journal on May 20.
Time, Money Savings
The Ephesoft system has saved the military time and money on administrative costs, and led to a more efficient process for payment of temporary duty and permanent change of station travel entitlements.
“Over the past year, the shift to a work-from-home digital workforce has heightened the pace of digital transformation for everything from mailrooms to invoice processing to records management,” Kavas said.
He also sees opportunities in the federal government mandate to known by the acronym NARA to digitize and electronically manage records by the end of 2021.
Shelley Holmes, the company’s vice president for the public sector, said the voucher-handling system was approved by the Defense Department for the Air Force, but it is reciprocal, meaning other branches of the military can use it.
She said other potential uses include mailrooms, contracting, invoicing and accounts payable. She said the military and federal agencies are seeking to modernize their computer systems.
Office Return
Ephesoft, like countless numbers of companies, is facing questions of people getting ready to return to the office. “Some people have already returned to the office starting May 4,” said Leah McEachern, the company’s senior marketing communications manager.
“It’s optional for employees to come in, but we take many COVID precautions—for example, sign-in, temperature, filling out a questionnaire about COVID, wearing masks when you’re in public areas—but you can take it off at your desk,” she said.
“One nice perk is that the company buys lunch for whoever is in the office that day.”
