AV Software Pvt. Ltd. (AV Soft), a Mumbai-based distributor of
world-leading OCR software for businesses, end-customers, 
government and educational organizations, has today announced a decision to expand its distribution of ABBYY® OCR retail products into the markets of Bangladesh and Sri Lanka.
AV Soft will distribute ABBYY’s flagship products such as ABBYY FineReader®, ABBYY PDF Transformer+®, ABBYY Screenshot Reader® and ABBYY Business Card Reader® for SOHO, SME and SMB segments on the markets of Bangladesh and Sri Lanka.
AV Soft will be offering ABBYY FineReader Professional 12® and ABBYY PDF Transformer+ in both Retail packs and Paper License format while other products will be available in Paper License.
Commenting on company’s plans, Rajiv Warrier, Managing Director at AV Soft, said, “For AV Soft, this is a first step in the broader strategy for regional expansion aimed at diversifying Company’s product and customers portfolio across different geographic regions”.
“Initially, our main focus in these new markets will be strengthening of our channel presence and investing in the marketing activities promoting ABBYY and other brands that we offer both in the channel community and among end-users as well. Over the years of operations in India, AV Soft has successfully built a robust network of channel partners, and we are looking at transferring this
experience into new South Asian markets,” Rajiv Warrier added.
According to Gartner, global revenue in the business intelligence and analytics, market may reach $16.9 billion in 2016, an increase of 5.2 percent from 2015. Optical character recognition (OCR), a technology that uses intelligent algorithms to convert images into editable text, preserving the original layout and formatting of the initial document, has been applied across various industry verticals, revolutionizing the modern document management process. OCR technology is widely used by a variety of organizations around the world, including libraries, software developers, and government institutions.
AV Software Pvt. Ltd. (AV Soft) has been a Master Distributor for ABBYY business and individual software for text recognition (OCR) and PDF conversion in Indian market, offering individual licenses
for flagship business products such as ABBYY FineReader, ABBYY PDF Transformer+, ABBYY Screenshot Reader and ABBYY Business Card Reader.
Apart from offering ABBYY OCR products in Bangladesh and Sri Lanka markets, the company is planning to introduce iolo technologies solutions for repair, optimization and protection of Windows PCs and other business intelligence solutions in these markets.
According to BASIS (Bangladesh Association of Software and Information Services), Bangladesh’s Software and IT Service Industry has crossed US$600 million in 2014 and had been enjoying strong growth supported by local demand as well as global exports and the governmental vision of turning Bangladesh into a digital economy. The advance of the country towards economic stability and openness allowed Goldman Sachs to name Bangladesh as one of the “Next Eleven” – a group of countries that have the prerequisites and potential to become major economic players in the twentyfirst
century.
Sri Lanka is another attractive market. The country’s economy had grown at an average 6.4 percent between 2010-2015, reflecting a peace dividend and a determined policy thrust towards reconstruction and growth. According to SLASSCOM (Sri Lanka Association of Software and Service Companies), the recent years have seen significant growth in Sri Lanka’s ICT revenues, particularly exports, given its limited domestic market. The IT industry in total is expected to reach $5bn in revenue by 2022.
