TOP 100 MAGAZINE

Mohamed Talib​

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Mohamed Talib’s journey began in 2011, when he pioneered a real-time data capture engine. In 2017, he used this underlying engine to create Scanov, an accounts payable SaaS solution for small businesses, which allowed users to capture data from their invoices and post them to QuickBooks in real-time— something which very few systems could do.

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Scanov quickly gained fame and in September 2017, it won the Accounting Technology User Favorite Award in the category of OCR/Data Entry at the Accountex Conference in Boston. Unfortunately, in April 2021, the Scanov website crashed at the hands of a senior Amazon Web Services (AWS) engineer. Because AWS refused to assist and compensate Captova, Scanov could not recover fast enough, and they lost all of their existing customers. Captova sued AWS for Breach of Contract, won the case, but was not fully compensated due to AWS’s Limitation of Liability clause in their Customer Agreement. Captova plans to appeal (see full story at their staging website www.scanov.com).

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After such a bitter experience with AWS, Mohamed decided to resurrect Scanov at Google Cloud Platform (GCP). Realizing that it was going to be a long and painful process for Scanov to re-enter the market, Mohamed decided to pivot his attention to the large enterprise space where the demand for such a highly efficient IDP engine was very high indeed. According to Grandview Research, Intelligent Document Processing (IDP) industry was experiencing significant growth, and the global market was expected to increase at a compound annual rate (CAGR) of 30.1% from 2023 to 2030.

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Disruptive Technology

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Mohamed claims to have achieved the impossible in the Intelligent Document Processing (IDP) space.

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“A single user on a Captova IDP Engine can process more than 80 pages per second. This translates to 4,800 pages per minute; or 288,000 pages per hour; or 2,304,000 pages in an 8-hour day. There is no question it is a disruptive technology.” 

 

And that’s just one user! Multiply that by several users on multiple engines and you have a giant enterprise-grade, hyper automation IDP factory with virtually unlimited capacity; a feat that was hitherto considered impossible. But, in order to process such a huge volume, there has to be a massive pipeline of optimized PDF documents feeding the engines. Thus, Captova’s IDP solution is particularly well-suited for very large enterprises or government agencies whose requirements demand this kind of fast turn-around and accuracy. Captova claims this level of efficacy is true to their tenet of Privacy, Accuracy, Speed and Security (P.A.S.S.).

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This high-speed processing, combined with exceptional accuracy, virtually eliminates, in many cases, the need for a costly Human-In-The-Loop (HITL) team, enabling true Straight-Through-Processing (STP) via API’s directly into the target systems.

 

 

Mohamed Talib

Founder and CEO

Captova Technologies Inc.

Website: https://www.captova.com/home   

LinkedIn: https://www.linkedin.com/in/mohamed-talib-55071619