Yes, the Dragon Premium series, 11, 12, or 13 can do that; not the Home or Basic series. A warning ... Dragon Premium can only transcribe one voice that it has been trained to understand. At this point in time (2015), if you have more than one speaker on your .wav file, only the one that it knows and understands will be transcribed. Also, other voices and other background noises will be a big interference if they overlap in that recording. You should also speak clearly and separate your words, using a good recording device.