CIC's keen focus on technological innovations, efforts to develop flexible business approaches, increased R&D investments, global expansion initiatives, and novel product offerings are expected to help it hold sway in the DSV market in the future as well.
To maintain its advantage, the company has concentrated on the emerging eSignature segment to aid the creation of a paperless environment, especially in the financial services sector. It has reaped the benefits of this strategy by acquiring an installed base of over 400 customers worldwide. CIC's efforts received a shot in the arm with the passing of the eSign law in late 2000.
While the company's signature verification solutions, which cater primarily to the financial services sector, have been implemented across several banks and insurance companies, the healthcare and government verticals are also expected to be significant revenue generators. The company has aligned its strategies to meet the needs of these potentially vital verticals.
"CIC uniquely offers a common framework to deliver legally binding and compliant electronic signatures to partners and customers, regardless of the specific business process being automated, type of documents being signed, or method of signature required," says Frost & Sullivan Research Analyst Neelima Sagar. "It ensures maximum process and transaction integrity, while the processing time and cost are also drastically reduced."
The company's solutions enable customers to address multiple methods of electronic signature such as biometric handwritten, voice, fingerprint, eSeal, click-wrap and pin/password using just one product. Moreover, CIC's strong relationships with suppliers help reduce its products' time-to-market.
"In both revenue and technology terms, the company remains the leader of the world DSV market," observes Sagar. "CIC held its dominant market share in the total world dynamic signature verification market in 2006. It has a cumulative installed base of $23.0 million worldwide and has significantly enhanced its sales growth potential with partnership license agreements with several major enterprise software ISVs and VARs such as Adobe, IntegraSys/Fiserv, Oracle, and Guardian and OEMs embeds with hardware suppliers such as Lenovo and Hypercom. CIC's sales growth potential is further enhanced given that the accelerated adoption of this technology is being witnessed due to increasing awareness that dynamic signatures are replacing paper-based processes with the highest level of efficiency, cost reduction and non-repudiation."
The company has further bolstered its sales growth potential by inking an agreement with Adobe and its channel partners. It won a license agreement with IntegraSys in 2006, and in early 2007, announced another one with Oracle. The last alliance is significant as it can possibly integrate CIC's solutions within several high-volume financial services applications.
"CIC implements robust customer service strategies by working with its partners through all stages and offering them better solutions to satisfy customers," notes Sagar. "The company has been expanding its capabilities to meet customer needs on time and its knowledge and experience have provided extra value to clients."
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About Communication Intelligence Corporation
Communication Intelligence Corporation (cic.com) is a leading supplier of electronic signature solutions for business process automation in the Financial Industry and the recognized leader in biometric signature verification. CIC's products enable companies to achieve truly paperless work flow in their eBusiness processes by enabling them with "The Power to Sign Online®" with multiple signature technologies across virtually all applications. Industry leaders such as AIG, Charles Schwab, Prudential, Nationwide (UK), Snap-on Credit and Wells Fargo chose CIC's products to meet their needs. CIC sells directly to enterprises and through system integrators, channel partners and OEMs. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China.
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Forward Looking Statement
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