You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

SYDNEY--(BUSINESS WIRE)--The new version of the Philips dictation workflow solution for enterprise businesses, SpeechExec Enterprise 7.0 (SEE 7.0) is now available in Australia. The close collaboration between Nuance Communications and Speech Processing Solutions, the company behind Philips dictation solutions, SEE 7.0 offers cloud-based Nuance Dragon Professional speech recognition in addition to the workflow, allowing customers to edit or archive both audio and text files. To meet the requirements of modern work environments and flexible processes, for speech recognition, it must be combined with a workflow solution that tracks status updates and assigns priorities and tasks to dedicated personnel. "As market leaders in our respective fields, we combined the best of both worlds for our customers when it comes to speech recognition and workflow solutions. Customers who rely on speech technology will benefit from this close cooperation between SPS and Nuance, explained Yvonne Kirsch, Sales Director APAC, Speech Processing Solutions. Ed McGuiggan, General Manager, Dragon Professional, Nuance Communications, adds: "We are pleased to expand our long-lasting partnership with SPS. With the integration of Nuance Dragon Professional into Philips SpeechExec Enterprise 7.0, we created an easy to deploy product that fully meets the requirements of the modern workplace within large enterprise corporations. Together, we are accelerating the adoption and scalability of cloud-based speech recognition solutions to support collaborative work environments, regardless of where employees are located. SpeechExec Enterprise 7.0 integrates cloud-based speech recognition The new version SEE 7.0 supports state-of-the-art speech recognition technology by utilising cloud-based Nuance Dragon Professional speech recognition software. For front-end speech recognition, SpeechExec Enterprise connects to a dedicated Windows server either on site or in the cloud. The server is based in Australia, complying with Australian security standard, which allows the sensitive customer data to remain within the country. This allows authors to take advantage of Nuance's latest speech recognition engine with built-in deep learning technology for their digital dictation workflow. For the back-end speech recognition, files are sent from the Philips Voice Recorder App and mobile dictation devices (both Philips and non-Philips recorders) to a shared network folder. Philips Speech Recognition Server constantly monitors this folder, automatically retrieves new files, and converts them to text. Companies can use the new solution for a variety of use cases: For e-mails, memos and other short copy, stand-alone speech recognition with Nuance Dragon Professional Anywhere is sufficient. Longer copy and comprehensive briefs or contracts involving several people are handled by speech recognition in combination with a dictation workflow. From mobile dictation devices, all texts are processed through speech recognition and then finalized by in-house transcriptionists. About Speech Processing Solutions Speech Processing Solutions (SPS) is an international technology company and a global leader in dictation solutions. More than four million users worldwide work with speech-to-text solutions developed by SPS and sold under the Philips brand. These solutions include web-based and desktop workflow software as well as dictation devices. These smart solutions save users time and allow them to focus on their core tasks, making their business more efficient, customer-centric and profitable. Headquartered in Vienna, Austria, SPS has regional offices in the United States, Canada, Australia, the United Kingdom, Germany, France, Belgium and Austria, as well as a network of more than 1000 distribution and implementation partners worldwide.

Answer: Speech Processing Solutions: Next-generation Workflow Solution With AI-powered Speech Recognition, Now in Australia Philips Dictation Australia and Nuance expands their partnership with SpeechExec Enterprise 7.0