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Robert...the brief is actually just a few months old, written in February, 1998. Dealer recruitment continues and our new digital handheld, in concert with our PlayAll transcription software, will help us expand our distribution capabilities significantly (those products will begin shipping next week and, because they require no "inside the box" installation expertise, will enable us to grow our reach from just under 100 dealers to more than 1,000 over the next year or so). Sales in the medical market are growing and we are currently in discussion with a number of potential distribution and integration partners who could help us accelerate that growth. We still believe annual revenues of $35 million are achievable for FY2002. I believe our integration with L&H technology will put us well ahead of anything Dictaphone can offer because of our ability to efficiently move voice files to where they are best processed. Currently, most speech recognition applications require the professional (e.g. doctor or lawyer) to train the engine and then speak directly to the computer. Any inaccuracies have to be corrected at the front end (voice files aren't recorded, stored or easily moved) and the professional is tempted to do further editing and formatting. The result is that productivity is not improved and, in fact, is often retarded. Working with L&H, our system will allow professionals to dictate as they normally do and we will simultaneously create two voice files, one a compressed "permanent" record of the actual dictation and the other at a high quality sampling rate which will be "fed" to the appropriate speech recognition engine. The result is then a text file, which is relatively small as a data object, linked to the compressed voice file, which then can be moved by network to an "editor" for correction, editing and formatting. This ability to move voice and text together, we believe, will be efficient and deliver significant productivity gains in professional environments such as hospitals, clinics and law offices. |
