Hyland Software provides enterprise content management (ECM) software designed to help organizations streamline their processes and share information among employees, partners, and customers. Its OnBase software, which electronically captures and manages everything from paper reports to Web content, is used by customers in industries ranging from financial services and government to manufacturing and health care. In addition to its core ECM product, the company offers modules for functions such as business process automation, digital imaging, and records management. Private equity firm Thoma Bravo owns a majority stake in Hyland, which has more than 11,000 customers around the world.
Hyland reported that revenues were up about 25% in fiscal 2010 over 2009. The company continues to grow through acquisitions and by promoting OnBase OnLine, the software-as-a-service (SaaS) version of its ECM software. The company opened data centers in Australia and the Netherlands in 2010, and has set plans to open data centers in Asia and Latin America in 2011, in order to meet customer demand for OnBase OnLine internationally.
Hyland has focused on the health care industry, which has enormous potential for growth. In 2010 the company purchased eWebHealth, a provider on-demand software used to manage medical record and workflow information in small and midsized hospitals. Also that year, it bought Computer Systems Company (CSC Group), extending its presence in financial and clinical health care applications. The purchase included revenue cycle management software, an integrated ultrasound reporting and imaging product, and document conversion services. In 2009 the company acquired document management company Valco Data Systems, expanding its services to health care clients. Valco became the division responsible for Hyland's health care offerings.
In addition to health care, the company has focused on expanding in the education market, another sector it feels has good growth potential. In 2010 Hyland purchased Hershey Systems, a provider of content management software for the higher education market. The acquisition added about 200 higher education institutions to Hyland's customer base.
Hyland has set its sights on overtaking Open Text in order to become the largest independent company in the ECM industry, an ambitious plan given the current difference in size between the two companies. Most of Hyland's competition, however, still comes from large enterprise software companies such as Oracle, SAP, and IBM (which acquired Hyland rival FileNet). – less