LONDON – December 10, 2007 – Frost & Sullivan presents the 2007 Global Excellence Award in speech recognition technology to Philips Speech Recognition Systems (Philips SRS), for its demonstrated leadership in the field of speech recognition technologies for the healthcare market. The company has excelled in anticipating market demand for speech recognition solutions, leveraging both global and regional integration partnerships, improving its customer service offering and introducing innovative, industry-leading technologies.
Decades of experience, a portfolio of 25 recognition languages and more than 150 specialised vocabularies, coupled with over 8,000 installations of its flagship product – SpeechMagic – across 50 countries, bear testimony to Philips SRS's position as a global market leader.
"SpeechMagic is a client/server-based, professional speech recognition package, which can be fully integrated with other healthcare IT solutions such as RIS, HIS/EPR and PAS," notes Frost & Sullivan Research Analyst Konstantinos Nikolopoulos. "It is suitable for both small and large systems, and by supporting distributed networks it ensures that dictation, recognition and correction can be done independently of the location, across a local or wide area network or the Internet. "
In order to support speech recognition accuracy, sophisticated learning algorithms enable SpeechMagic to automatically and immediately adapt to the dictation style and pronunciation of each author. Unknown words can be added to the recognition vocabulary - so users can benefit from a highly accurate and customised system.
"Intelligent speech interpretation technology assures that the system not only recognises words but also understands their meaning," adds Nikolopoulos. "SpeechMagic formats text and recognises headers, hesitations and punctuations, thus reducing human involvement in the generation of medical documents to a minimum."
The latest version of SpeechMagic pays special focus on the security needs of large installations. SpeechMagic is protected against instabilities in the overall IT system and loss of network connections. Security is further increased by Speaker Detection – a feature which protects individual speakers' settings by detecting discrepancies between author and voice profile.
SpeechMagic is becoming the 'de-facto' standard document creation platform in healthcare throughout the world. In North America, SpeechMagic powers the world's largest healthcare speech recognition site with more than 65,000 physicians. It is also the market leader in Europe and Latin America and has demonstrated solid growth in the Middle East and Australia.
"Utilising an extensive network of more than 250 integration partners, and strong product quality, Philips SRS is perfectly positioned for strong global growth and further expansion into Asia," states Nikolopoulos. "To support this, Philips SRS recently announced new professional services, which allow the SpeechMagic integration partners to capitalise on the company's unique know-how and expertise in healthcare documentation."
Frost & Sullivan Global Excellence Award is bestowed upon the company which has demonstrated global excellence in a given business function such as technology innovation, product quality, sales, marketing, customer service, supply chain management and growth strategy. The recipient is recognised for having exhibited global excellence in its operations, resulting in sustained financial growth and for distinguishing itself through its proactive global integration strategies that would position it to emerge as a global leader.
Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Philips Speech Recognition Systems
For more than 50 years Philips has been the principal force in delivering dictation and speech technologies to users around the world. Creativity and innovation to improve the interaction between man and machines has always been at the forefront of the company's mission.
Philips Speech Recognition Systems, with headquarters in Vienna, Austria, develops speech recognition software and specialized recognition vocabularies (ConText) for professional applications, with a strong focus on the medical and legal markets.
Philips Speech Recognition Systems became the first company to develop a commercially available speech recognition engine that enabled spoken words to be converted into text on a PC. Already in 1994 Philips Speech Recognition Systems launched SP6000, the first client/server-based continuous speech recognition system for the radiology market.
Today the company offers several products to enhance the document creation process using speech recognition and digital dictation, most importantly the award-winning document creation platform SpeechMagic. Decades of experience, a portfolio of 25 recognition languages and more than 150 ConTexts (industry-specific recognition vocabularies), coupled with over 8,000 installations of SpeechMagic in hospitals, practices and law firms, bear testimony to Philips Speech Recognition System's position as a global market leader."
About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information, visit http://www.awards.frost.com.
Philips Speech Recognition Systems:
Name: Anne Durand-Badel
Tel: +43 1 60101 1048
Website URL: www.philips.com/speechrecognition