Nuance Communications Inc. Strengths, Domain Expertise, and Key Differentiators
Nuance is an American based multinational computer software technology corporation, that provides speech recognition, and artificial intelligence.
Current business products focus on server and embedded speech recognition, telephone call steering systems, automated telephone directory services, and medical transcription software and systems. The company also maintains a small division that does software and system development for military and government agencies.
Nuance Communications Inc. Recent Developments
In April 2020, Nuance launched Nuance Mix, an open enterprise-grade, software-as-a-service (SaaS) tooling suite for creating advanced conversational experiences that power Virtual Assistants (VA) and IVR using Nuance’s industry-leading and cloud-agnostic Conversational AI. As global organizations increasingly look to integrate Conversational AI into their digital and voice customer engagements, the ability to build a conversational experience once and deploy it across channels and modalities has become critical. Nuance Mix allows those organizations to build, maintain, and deliver the complex enterprise-grade conversational experiences that help get vital transactions resolved.
The Nuance Mix toolset is immediately available and supports the full software development lifecycle, spanning all project roles including developers, designers, testers, and business analysts. Unlike other tools only focused on enabling the developer community, Nuance Mix empowers both expert and non-technical users and offers collaborative models with Nuance conversational design experts for building experiences, if desired. Nuance Mix is cloud-agnostic. Applications created can be deployed in hosted or on-premise environments.
In July 2019, Nuance Communications unveiled the Nuance Lightning Engine, a new AI tool that uses 4th generation deep neural nets (DNNs) and combines voice biometrics and natural language understanding (NLU) to deliver more personalized and human-like experiences across voice channels. With the new engine, a single human command to a smart speaker, virtual assistant, or IVR is enough for that system to understand who is talking and what it is they want in as quick as half a second.
In November 2018, Nuance Communications introduced PowerScribe One, the next generation of the industry’s most widely used radiology reporting platform. Harnessing Nuance’s advanced natural language understanding capabilities and cloud technology, the PowerScribe One platform integrates access to artificial intelligence-powered (AI) diagnostic and decision-support tools to measurably improve workflow efficiency and accuracy.
In September 2018, Nuance Communications introduced Nuance CDE One and other new clinical documentation excellence solutions. CDE One is cloud-based workflow management, collaboration, and insight system designed for clinical documentation improvement (CDI) teams. CDE One’s artificial intelligence (AI)-powered capabilities enable smarter workflows and enhanced care team collaboration, satisfaction, and efficiency. Additionally, CDE One’s powerful analytics provide health system executives with key insights into staff, physician, and program performance. Because of its cloud-based deployment, CDE One also reduces health system resources spent on technical support and overall maintenance. Additionally, Nuance clinical documentation excellence solutions are hosted on Microsoft Azure, a HITRUST CSF-certified hosting infrastructure, to assist the customer with privacy, security, and compliance.
In fall 2018, Nuance has created a virtual assistant solution powered by Artificial Intelligence (AI) designed for healthcare providers that include: -Industry voice recognition technology designed for healthcare: This cloud-based offering enables any individual, using specialized medical terminology, to communicate naturally with high accuracy and no voice training across a range of devices and applications. -Voice biometrics and text-to-speech: The solution utilizes Nuance’s voice biometrics and text-to-speech capabilities for advanced security and clinician usability. -Unparalleled integrations and strategic healthcare IT relationships: The offering contains embedded, unique, and sophisticated workflow capabilities across major electronic health record (EHR) systems that clinicians use every day across mobile, web, and desktop platforms. -Prototype smart speaker customized for healthcare provider settings and use cases: A prototype, specialized healthcare smart speaker connects to the Dragon Medical cloud and is optimized for clinical interactions and ambient speech clinical workflows. -Secure and reliable platform: The solution leverages the HITRUST CSF certified Microsoft Azure cloud hosting platform to deliver the enhanced performance, security, and privacy today’s providers require.
Nuance Communications Inc. Mergers and Acquisitions (M&A) Activities
In October 2019 Nuance has completed the spin-off of Cerence Inc. As a result, Nuance and Cerence are now separate publicly traded companies. Cerence’s common stock will begin trading “regular way” on the Nasdaq Global Select Market under “CRNC”. Goldman Sachs & Co. LLC and Evercore served as Nuance’s financial advisors on the transaction, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Baker McKenzie served as Nuance’s legal advisors.
In May 2018, Nuance Communications acquired Voicebox Technologies, which is based in Bellevue, Washington. Voicebox has developed a VoiceAI platform that delivers a multi-person, cross-device experience. The platform is used in home and IoT devices, as well as connected cars. Nuance Communications partners include Toyota and Samsung.
Nuance Communications Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Nuance Communications Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Nuance Communications Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Dragon Medical, Nuance Cloud customers.
Nuance Communications Inc. Overview
Ownership: - NUAN : Nasdaq GS
Number of Employees: 8500
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith Based Nonprofit, Youth and Elderly Care Nonprofit, Special Cause Nonprofit, Oil and Gas, Professional Services, Retail, Transportation, Utilities,
Nuance Communications Inc. Key Enterprise and Cloud Applications
Dragon Medical, Nuance Cloud
Nuance Communications Inc. Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Nuance Communications Inc. Revenue Breakdown By Type, $M:
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Nuance Communications Inc. Enterprise Applications Revenues By Functional Markets, $M:
Nuance Communications Inc. Enterprise Applications Revenues By Verticals, $M:
Nuance Communications Inc. Revenues By Region, $M
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Nuance Communications Inc. Direct vs Indirect sales
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Nuance Communications Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of Nuance Communications Inc. Customers: 10000
No. of Nuance Communications Inc. Enterprise Applications Customers: 10000
No. of Nuance Communications Inc. Cloud Customers: x
No. of Nuance Communications Inc. Cloud Subscribers: x
Today, more than 500,000 clinicians and 10,000 healthcare facilities worldwide leverage their solutions to improve patient care and support the physician in clinical workflows from many devices.
Some of Nuance Communications customers are American Airlines, Amtrak, Bank of America, Barclays, Dominos, Delta, Deutsche Telekom, e*trade, ING Bank, Lloyds Banking Group, T-Mobile, Telefonica, Telstra, Vodafone, and many others.
Nuance Communications Inc. Market Opportunities, M&A and Geo Expansions
In February 2020 Nuance introduced the general availability of the Nuance Dragon Ambient eXperience (DAX) solution, an ambient clinical intelligence (ACI) solution for a wide array of medical specialties. Working in tandem with electronic health record (EHR) systems, the Nuance DAX solution revolutionizes the physician-patient experience by securely capturing and contextualizing physician-patient conversations and powering the exam room of the future where clinical documentation writes itself.
Innovated by Nuance and Microsoft, the Nuance DAX solution is built on decades of healthcare experience, in-depth research investments in conversational AI, and enterprise-focused cloud services. Nuance DAX leverages and extends the proven power of Nuance Dragon Medical, already relied upon by over 500,000 physicians globally, with the latest advancements in ambient sensing technology and AI to create a fully voice-enabled and ambient exam room environment. As part of a multi-year joint development effort, Microsoft has come together with Nuance to enrich Nuance DAX’s capabilities with AI and cloud capabilities from Microsoft, including the ambient intelligence technology, EmpowerMD, which will come to market as part of the Nuance DAX solution.
Nuance acquired Noida-based value-added service provider mCarbon. The acquisition provides Nuance with a proven portfolio of highly scalable revenue enhancement and customer experience management solutions, expands Nuance’s footprint in Asia, Middle East, and Africa, and strengthens its relationship with the leading telecom companies in the region.
Nuance Communications Inc. Risks and Challenges
After spinning off Cerence, a $300 million business for the automotive voice-tech market, in 2019 and the Document Imaging Division to Kofax in 2018, the remaking of Nuance continues. While its revenues stay flat, its focus on AI and healthcare digitization appears to be on track. The question is whether it plans to expand its core competency in natural language processing and AI-enabled voice technologies beyond healthcare and if the increased use of digital assistants from Alexa, Google Voice, and Apple's Siri could render Nuance obsolete.
Nuance Communications Inc. Ecosystem, Partners, Resellers and SI
In June 2019, Nuance Communications partnered with Mila, an academic research institution dedicated to advancing machine learning with an intensive focus on deep learning related to language and image processing. This expanded partnership enables Nuance and Mila to collaborate on research, advance cutting-edge work in machine learning, and meaningfully enhance AI applications.
Furthermore, in 2019 MEDITECH, a leading, innovative Electronic Health Record (EHR) vendor, and Nuance Communications unveiled that MEDITECH is integrating Nuance’s Dragon Medical Virtual Assistant into MEDITECH Expanse. Building on a long history of innovation by the two companies, this integration will complement common clinician workflows by automating high value clinical and administrative tasks that will allow physicians to spend more time focused on, and improving, the patient experience.
The channels for distribution in the Healthcare segment utilize a direct sales force to address the market and their professional services organization that supports the implementation of their requirements of the healthcare industry. Direct distribution is supplemented by distributors, resellers, and partnerships with a variety of healthcare IT providers.
Nuance's healthcare customers and partners include Cerner, Epic, McKesson, UPMC, Cleveland Clinic, Siemens, and the Mayo Clinic. The selling models in the Enterprise segment utilize both direct and channel sales, which includes a network of partners such as Avaya, BT, Cisco, DiData, Genesys, Huawei, MoshiMoshi, NICE, Telstra, and Verint.
The channels for distribution in the Imaging segment include a combination of a global reseller network and direct sales. Their Imaging solutions are generally sold under a traditional perpetual software license model with a subset of their offerings sold as term licenses. Nuance's Imaging customers and partners include Ricoh, Xerox, HP, Canon, and Samsung.
Nuance Communications Inc. Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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