What FORMAX does

FORMAX is a privately held business process outsourcing (BPO) firm headquartered in Lehi, Utah, specializing in data capture, document conversion, and digital content services for large enterprises and government organizations. The company operates a multi-shore delivery model with approximately 3,500 data capture operators across 16 global facilities, providing multi-lingual (English, Spanish, Chinese, Japanese, Korean, French, German, Portuguese) document processing, OCR/ICR-based digitization, XML/SGML/HTML and eBook conversion, STM (Scientific/Technical/Medical) publishing pre-press, document and book scanning, cloud-based image hosting, BPO call center services, and CAD conversion for architecture firms. Its technology stack is anchored by OCR/ICR software engines, high-speed production imaging, Kodak-authorized scanning equipment, Atiz book scanners (which scan bound books without debinding), and secure cloud-based image storage, with HIPAA, PCI-DSS, and SOC 2 Type 2 compliant environments enabling healthcare and financial services work.

Revenue is generated almost exclusively through professional services engagements priced on a quote/consultation basis (no public rate cards), targeting Fortune 500 companies, major government organizations, and large publishing, healthcare, financial, retail, and architecture firms. Go-to-market is sales-led and direct, executed via the company website (formax.us), inbound email ([email protected]), and free-consultation offers, with delivery carried out by a globally distributed workforce. The company also offers AI-powered social media marketing and web summarization tools through a partnership with MindSpire.AI, representing a small, externally sourced product line layered on top of its core BPO business. Notably, there is a data conflict between the founding year of 1972 listed in firmographics and the 2004 founding date referenced in the detailed company history; the operational narrative (20+ years, 16 facilities) is most consistent with a firm established in the early-to-mid 2000s, though the discrepancy remains unresolved.

Name

FORMAX

Legal name

Formax Inc.

Website

https://formax.us

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

FORMAX is a US-headquartered BPO firm operating 16 global facilities with approximately 3,500 data capture operators, providing multi-lingual OCR/document conversion, eBook/STM publishing, document scanning, call center, and AI tools to Fortune 500, government, healthcare, financial, and publishing clients.

Ownership category

akta.pro rank

Product category

Business Process Outsourcing and Document Management Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Telephone Call Centers (56142), Drafting Services (541340), Printing and Related Support Activities (323), Support Activities for Printing (32312)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Mailing, Reproduction, Commercial Art & Photography (7330), Service Industries For The Printing Trade (2790)

akta.pro primary industry

Data Extraction & Structuring (Invoices, POs, Receipts, KYC) (BPAAAKAF)

akta.pro secondary industries

Data Entry & Form Processing (Manual Keying, Validation) (BPAAAKAC), Print, Mailroom & Document Workflow Services (Inbound/Outbound Processing) (BPAAAKAL), Insurance Claims Intake & FNOL Support (BPAAAFAA), Workflow & Case Management (Human-Centric BPM) (HDAEAHAA)

Keywords

• Business process outsourcing
• Data capture services
• Document scanning services
• XML and eBook conversion
• Call center outsourcing

Headquarters

HQ city

Lehi

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Data Capture & OCR Services: Multi-lingual data capture and conversion services using OCR/ICR technology. Scalable workforce of 3500 operators across 16 facilities for high-volume document processing projects, both one-time and ongoing.
2. XML & eBook Conversion: SGML/HTML/XML data conversion, ePub and Amazon Kindle Mobi format conversion. Standard turnaround of 5-7 business days for eBooks, 24 hours for standard journals. Serves major publishing firms worldwide.
3. STM Publishing Solutions: Science/Technical/Medical publishing pre-press services including copy editing, review, and multi-lingual capabilities. Tailored solutions delivering maximum quality at competitive rates.
4. Document & Book Scanning: Document scanning and specialized book scanning services using Kodak-authorized technology and Atiz equipment. Services include mailroom/imaging, document preparation, image capture, indexing, and storage.
5. CAD Conversion Services: CAD drafting services for architecture firms covering schematic design, design development, and construction documents. Personnel have architectural/engineering degrees and 3-10 years experience.
6. Image Hosting & Storage: Secure image and data storage and retrieval services using cloud-based storage. Organized and managed data with expert support.
7. BPO/Call Center Services: Customer care, revenue cycle management, back-office operations, email/chat/text support, patient care, tech support, sales support, payment processing, and appointment setting services. Multi-channel and multi-shore capabilities.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

FORMAX is a business process outsourcing (BPO) company that provides data capture, OCR/ICR-based digitization, document and book scanning, XML/eBook and STM publishing conversion, CAD drafting, cloud-based image hosting, and multi-channel call center/customer care services. The company leverages a workforce of nearly 3,500 operators across 16 facilities to deliver scalable, multi-lingual document and content processing for Fortune 500 companies, government agencies, publishers, healthcare organizations, and architecture firms.

Product overview

FORMAX is a BPO (Business Process Outsourcing) company offering a comprehensive suite of document management and data processing services. The portfolio consists of eight core offerings: Data Capture & OCR for automated data extraction using OCR/ICR technology; XML & eBook Conversion and STM Publishing Solutions for converting academic and technical content into digital formats; Document Scanning including specialized book scanning; Image Hosting for secure cloud-based storage; AI Tools for automated social media marketing and web page summarization; Customer Care Services (Call Center) for multi-channel BPO support; and CAD Conversion for architectural drafting services. The Lehi, Utah headquarters coordinates operations across 16 facilities with approximately 3500 data capture operators, serving Fortune 500 companies and major government organizations.

Differentiator

Problem solved

Functional benefit

Brands

• MindSpire.AI: AI-powered tool for automated social media marketing, holiday content, and stunning visuals for audience engagement.

Products and services

• Data Capture & OCR Automated data capture and digitization service utilizing Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR) software engines. Backed by nearly 3,500 operators across 16 facilities, supporting multi-lingual content in English, Spanish, Chinese, Japanese, Korean, French, and German. For Fortune 500 companies, government organizations, and any client with high-volume document processing needs.
• XML & eBook Conversion SGML, HTML, and XML data conversion specializing in technical and academic books and journals, with conversion to ePub, Amazon Kindle Mobi, HTML, and other digital formats. Standard journal turnaround within 24 hours; eBook conversion typically 5-7 business days. Serves the largest publishing firms, web content providers, and electronic publishers worldwide.
• STM Publishing Solutions Full-range Science/Technical/Medical publishing services including pre-press solutions, copy editing, and multi-lingual review capabilities. Tailored to academic and STM publishers seeking maximum quality at competitive rates.
• Document Scanning Comprehensive document scanning at the Lehi, Utah facility including high-speed production imaging, specialized book scanning using Atiz scanners (without debinding), and mailroom/imaging services covering document receipt, preparation, image capture, indexing, and storage.
• Image Hosting Secure cloud-based image and data storage and retrieval services enabling clients to store, access, and manage digitized documents and images from anywhere at any time. Includes expert support and guidance.
• AI Tools AI-powered business tools including automated social media marketing (via MindSpire.AI) for content scheduling and visual creation, and web page summarization technology that extracts content and generates personalized marketing messages.
• Customer Care Services (Call Center) BPO customer care solutions offering multi-channel support (IVR, Voice, Email, Chat, Text), multi-shore global operations, and dedicated teams. Services include revenue cycle management, back-office processing, patient care, tech support, sales support, and payment processing.
• CAD Conversion

Quantifiable outcome

• Standard sized journal turnaround within 24 hours of receipt
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• KodakcoreTechnology or IntegrationFormax is an authorized partner with Kodak, the premier scanning device manufacturer. Utilizing advanced technologies and processes, Formax provides organizations with the highest image quality at the lowest cost through Kodak-authorized equipment and processes.
• AtizcoreTechnology or IntegrationAtiz provides state-of-the-art book scanners that can scan books without debinding them. This specialized equipment preserves the integrity of original bindings and pages, enabling efficient digitization of book collections for libraries and academic institutions.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Aptara: Aptara provides publishing, eLearning, and content transformation services including XML/HTML conversion, typesetting, and digital content production — closely comparable to FORMAX's XML & eBook Conversion and STM Publishing Solutions.
• Innodata: Innodata is a digital operations and content services company providing data capture, document conversion, and content workflows for publishers, media, and enterprises — directly overlapping FORMAX's XML/eBook conversion and data capture offerings.
• TTEC: TTEC is a global customer experience and BPO provider delivering contact center, customer care, back-office, and digital services — closely matching FORMAX's Customer Care Services with multi-channel, multi-shore delivery.
• Firstsource Solutions: Firstsource provides BPM services including customer care, revenue cycle management, and data processing across healthcare, banking, and communications — directly comparable to FORMAX's customer care and BPO offerings.
• Hurix Digital: Hurix Digital delivers digital publishing, content conversion (ePub, Kindle, XML), and eLearning production services for global publishers — comparable to FORMAX's multi-lingual, high-volume publishing BPO.
• SPI Global: SPI Global is a large BPO/content services provider delivering publishing production, eBook conversion, XML/SGML workflows, and managed services — a direct competitor to FORMAX's STM publishing and conversion services.

Broad incumbents

• Genpact: Genpact is a large professional services firm offering digital operations, data processing, finance & accounting outsourcing, and customer operations — comparable to FORMAX's enterprise BPO and back-office services at significantly greater scale.
• Iron Mountain: Iron Mountain provides document storage, digital scanning, and information management services for enterprises — comparable to FORMAX's mailroom/imaging, document scanning, and image hosting services, but at far greater scale.
• Teleperformance: Teleperformance is a global leader in outsourced customer experience management, contact centers, and digital BPO — comparable to FORMAX's call center business and broader BPO delivery model at much greater scale.
• Concentrix: Concentrix is a large technology-enabled BPO firm providing customer experience, trust & safety, and digital IT services — overlapping with FORMAX's enterprise BPO, customer care, and back-office offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FORMAX