VQS VIQ Solutions Inc

VIQ is rolling out its completely re-designed, cloud-based transcription platform for major insurance and transcription customers in the USA and Australia

VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and services for law enforcement, legal, insurance, courts, and transcription service provider markets, announced today that NetScribe, its robust, secure cloud-based transcription platform to benefit major insurance and transcription customers will be released over the next few weeks.

NetScribe, a powerful, easy to use software-as-a-service (SaaS) solution provides an end-to-end workflow addressing the demands of VIQ’s transcription and other customers with substantial transcription workflow. VIQ’s AI based speech-to-text technology significantly increases human transcriptionist efficiency, decreases turn-around time and yields higher transcription accuracy. NetScribe reduces labor costs, generates meaningful savings, boosts margins and increases revenue.

Specially selected US and Australian clients in the insurance and law enforcement markets are the first to benefit from NetScribe’s innovative workflow. HomeTech and Transcription Express, VIQ-owned subsidiaries, will begin using the NetScribe Transcription Platform to provide customers its advanced capabilities over the next few weeks. This migration will provide the platform to accelerate the sale of other VIQ services to this base, exceeding over 1000 customers.

“This exciting, new transcription technology greatly increases our efficiency, accuracy and turnaround times,” said Susan Sumner, VIQ Chief Operating Officer, “As we rollout this new workflow, our clients will see the benefit of accessing accurate documentation more quickly, from anywhere, and VIQ will be equipped to capitalize on new revenue opportunities.”

Businesses requiring transcription services face the burden of retaining substantial numbers of transcriptionists to create quality transcripts from captured audio evidence. The NetScribe Transcription Platform transforms the transcription industry by reducing the number of transcriptionists while enhancing productivity with a streamlined workflow implemented quickly and cost-effectively.

VIQ’s cybersecurity ensures our customers have secure content and confidential information protection. On the NetScribe Transcription Platform, files are encrypted until actual playback use. If a browser session is ended before the transcription is complete, the partially complete transcript remains safely stored in the Azure cloud, and the audio/video file must be fetched from the server to complete the session. Confidential audio and video recordings and transcription files are never stored on a transcriber’s computer hard drive or mobile device storage.

More new AI services will be launched as soon as mid-year 2019. To meet the high demand for this service, VIQ is also developing an on-premise solution for world regions where infrastructure does not provide reliable cloud computing.  “Transcription solutions are a vitally important part of our offering, and today we launch a new and exciting SaaS-based transcription workflow engine like none other,” said GA Morin, VIQ Chief Information Officer, "Our customers will benefit from exceptionally accurate documentation and be able to access drafts more quickly than ever before.”   

For further information: Laura Serrano-Haggard, Chief Marketing Officer, VIQ Solutions, lserranohaggard@viqsolutions.com

For more information about VIQ, please visit viqsolutions.com.

About VIQ Solutions Inc. VIQ Solutions is a global expert in video capture software and audio recording with voice-to-text capabilities. VIQ provides a cyber-secure AI technology and service platform to law enforcement, immigration, medical, legal, insurance, courts, and transcription service providers, enabling them to unlock the value of their enterprise digital media and streamline their document-creation workflow, using artificial intelligence tools for measurable business gains.

Forward-looking Statements Certain statements included in this news release constitute forward-looking statements or forward-looking information under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements or information in this news release include, but are not limited to, management’s targets for the Company’s growth in 2018, as well as the size, scope, and timing of the implementation of projects currently in the pilot phase.

Forward-looking statements or information is based on several factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding, among other things, the Company’s recent initiatives, and that sales and prospects may provide incremental value for shareholders. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been used.  

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