Here are some service APIs - one free and several paid options, of varying qualities:
http://wiki.freeswitch.org/wiki/Transcribing_Voicemail

There's other options for on-system transcription but if you want FOSS.. there nothing ready to install that I found.
-Avi


On Mon, Mar 5, 2012 at 6:14 PM, Balamurugan Mahendran <b2m@a-cti.com> wrote:
Hi all,

We are looking for a tool to transcribe voicemail, I was trying with Sphinx but the quality is not okay to use. Please suggest me the right tool for Voicemail Transcription.

Thanks,
Bala

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