TechNavio recognizes the following companies as the key players in the Global Document Capture Software Market: EMC Corp., Kofax plc, Nuance Communications Inc., and OpenText Corp.
Commenting on the report, an analyst from TechNavio’s team said: “The emergence of SaaS-based document capture software solutions has enabled organizations to increase their efficiency and reduce the cost of deploying valuable IT infrastructure. However, many organizations are still analyzing the feasibility and relevance of such cloud computing solutions in their IT operations. SaaS-based deployment offers a pay-per-use model, which provides cost-effective accessibility and a paradigm where document capture solutions can be accessed at any time and in any place by multiple users. Although many enterprises have an increased understanding of the benefits of SaaS-based document capture software solutions, a number of concerns and risks, particularly relating to data sharing and security, are affecting the steady adoption of such solutions. Hence, the Global Document Capture Software market is witnessing a trend where many vendors have begun to offer their solutions through the SaaS-based model to expand their services and enter new markets. In addition, web-based document management solutions are becoming increasingly popular since they enable businesses to securely store, access, and maintain digital records more easily. This in turn is leading to the increased adoption of SaaS-based document capture software during the forecast period.”
According to the report, one of the major drivers in the market is the need for regulatory compliance. The fear of legal liability associated with compliance requirements is the major factor propelling organizations to adopt document management solutions worldwide. In addition, much of the data is unmanaged in many organizations, which increases the demand for efficient document capture software.
Further, the report states that some of the key challenges in the market are issues related to scalability, automation, and professional expertise. Vendors are facing problems with core infrastructure issues such as safety and security. In addition, customers often lack knowledge about the type of services included in document capture software.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-document-capture-software-market-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report – Global Document Capture Software Market 2014-2018
