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CUTTING $38 BILLION IN GOVERNMENT DOCUMENT MANAGEMENT COSTS WITH RIPCORD’S AI
AND ROBOTICS

government
Digital Transformation
press
March 28, 2023
By ///Dania Harris

RIPCORD TO DRIVE ADOPTION OF AI-POWERED DOCUMENT INTELLIGENCE IN THE PUBLIC
SECTOR WITH TWO EXECUTIVE HIRES FOCUSED ON MODERNIZING GOVERNMENT DOCUMENT
MANAGEMENT AND IMPROVING CITIZEN EXPERIENCE.

Hayward, California — March 28, 2023 — Today, Ripcord, the company
revolutionizing the Intelligent Document Processing market, has announced the
addition of two key executives to its public sector team specifically dedicated
to helping save the government and taxpayers $38 billion. Collecting and
processing paper documents related to government services costs the federal
government over $38.7 billion annually. Not only is this a burden on federal
budgets it also puts an undue onus on citizens to conduct business in person or
by mail while trapping valuable Federal data in paper records. Simultaneously,
the cost to operate and maintain legacy software systems has risen sharply,
quadrupling to nearly $2B in the case of The Department of State. 

Since 2015, Ripcord has partnered with public agencies and private organizations
to deploy robotic digitization and intelligent document processing technologies
to reduce manual processes and reliance on paper. Ripcord solutions deliver
efficient access to digitized records and related metadata while improving
security and data privacy. To help federal, state, and local governments address
mandates and compliance challenges, modernize, and improve employee and citizen
experiences, Ripcord has a team of experts focused on serving the Public
Sector.   

With the addition of two seasoned public sector professionals, Todd Bailey, VP
of Public Sector Strategy and GTM, and Lynn Barousse, VP of Public Sector Sales,
Ripcord plans to bring its cutting-edge IDP solutions to more government
agencies. Sam Famhy, CEO of Ripcord, expressed his excitement and confidence in
the new additions to the team. "The continued advancement of our projects with
the IRS demonstrates the extreme value that Ripcord can deliver to the public
sector," Fahmy noted. "Not only is there a digitalization initiative within the
federal government, but Ripcord’s flagship Document Intelligence as a ServiceTM
offers unprecedented accuracy and scale that will future-proof the largest
agencies in our country while giving access to years of trapped data.” 


ABOUT RIPCORD

Ripcord is a Silicon Valley-based company disrupting the $62 billion document
intelligence space with its cutting-edge Document Intelligence as-a-Service
platform. Using advanced robotics and AI, Ripcord digitizes, ingests,
classifies, and intelligently extracts and abstracts data from paper and digital
records, making them accessible and actionable to enterprise users. Founded in
2015 out of NASA research, Ripcord is backed by the world's leading investors
including Kleiner Perkins, Google Ventures, Icon Ventures, Lux Capital, and
Apple co-founder Steve Wozniak. For more information, visit www.ripcord.com.







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