Harvey Spencer Associates Reports Growth in the Worldwide Document Capture Software Market

EAST NORTHPORT, N.Y.--(BUSINESS WIRE)--Spending on Document Capture Software grew in 2009 by 2.1% to $1.99bn according to a new study by Harvey Spencer Associates (HSA), Inc., the leading analysts in the expanding area of document capture. By 2013 HSA predicts the market will reach $3bn.

“Despite some very challenging economic conditions, the overall capture market grew as it changes and matures”

“Despite some very challenging economic conditions, the overall capture market grew as it changes and matures,” said Harvey Spencer, President, Harvey Spencer Associates, Inc. Although we track four different market segments, these can be encapsulated in two main areas:

Ad-Hoc Imaging and Batch Imaging – the conversion on-demand of individual documents or of like-type batched documents from paper into indexed images - declined by 1.9%. The major reduction was in Ad-Hoc capture, which declined by over 4%, whereas batch capture showed a small increase. This market was negatively affected by reductions in sales to consumers, in MFP sales, and in upgrades of small boxed solutions, and by the fact that much of the large batch backfile conversions in the developed countries have now been completed.
Ad-Hoc Transaction (in-process) and Batch Transaction - typically the capture and extraction of the data from paper and other document types - grew by 7.1% This market is driven by the need to understand and process incoming business documents faster and as close to the point of entry to the system as possible.

“Capture has evolved from a simple departmental scanning solution to intelligent data gathering,” said Harvey Spencer. “Large end users are realizing that many of the business transactions that enter the company in various ways, such as regular mail, fax and even email containing images, can be processed from the images. Previously these images have required expensive manual processing or have been ignored except for archive purposes. Using a variety of pattern recognition technologies, capture is starting to be employed to cover a much wider range of inputs. Intelligent classification software and business rules can start to process incoming business documents in a similar way to that of a trained human clerk. This expands capture into business process entry -- understanding and processing incoming electronic and paper documents, with little or no human intervention. This means that an entire transaction process can be automated regardless of whether it is received as an electronic transaction or as paper or fax.

One example is Accounts Payable. Regardless of how the invoice is received, the process can be completely automated through Purchase Order reconciliation, to payment authorization and cutting the check or transferring funds. Records Management, and manual exception processing if required, can utilize image(s) of the document(s) that are automatically routed to ECM systems. Pattern recognition technologies can be applied to the many different types of documents a company receives, eliminating the need for sorting into document types or inserting (and removing) batch separation sheets. In 2009 we started to see a take-up in these types of Enterprise Capture solutions, which have a higher value add, and we continue to see more individual sales that are over $200,000, and a few of several million dollars, as companies recognize compelling paybacks and ROI.”

The new study is available to Harvey Spencer Associates’ clients who have subscribed to the 2010 Document Capture Software Market Analytics Subscription Service. This service, which is used by leading vendors in the document capture software market, offers year round expert analysis of, and commentary on, industry trends and events. The 2010-11 Worldwide Market for Document Capture Software, is complemented by a comprehensive Vendor Tracking Report that profiles software vendors active in this market; a Vertical Market analysis and quarterly updates. In 2010 the company added an Enterprise Capture Report and is planning on a Mobile Capture report later this year.

Harvey Spencer Associates (HSA), Inc. is an analysis company founded in 1989 to specialize in document scanning, recognition and allied technologies. An annual conference (www.documentcapture2010.com) is held every September in Glen Cove, New York to explore the opportunities for these technologies in diverse markets. For more information please contact HSA at 631-368-8393 or inquiries@hsassocs.com.