VIVO,
Yes, it's a software program. SpeechPath is a new Feature in the ACCESS Platform. It comes standard in the Home Pro Edition as well as all the Business, Education, Healthcare and Government Editions. It is not included in the basic Home Edition (It is included in the Home Pro Edition).
SpeechPath is a machine based VCO feature, meaning that you can place calls to other and have their speech converted to text without a relay operator listening in on the call. You can also receive calls in the same manner.