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August 21, 2008
Scanning's New Groove
If you think scanning is a relatively staid and mundane activity, think again. Big changes are occurring in the larger document-capture market that could have solution providers selling MFPs and standalone scanners in entirely new ways.
Turning paper documents into digital copies remains a beneficial activity for end users interested in relieving the storage and management pain of paper. But some progressive companies want more, which is making something called transactional scanning one of today’s fastest-growing trends, according to Harvey Spencer, founder of the market research firm Harvey Spencer Associates.
With transactional scanning, end users look to specialized software to “understand and extract relevant data automatically from” paper documents and insert the data into work processes, Spencer says.
The company notes in its recently released report, The Worldwide Market for Document Capture Software 2007-2011 that traditional batch scanning has historically been the fastest growing segment of the document-capture software market. “We are now seeing the transaction capture segment having the highest CAGR [compound annual growth rate] going forward,” Spencer says.
Why should solution providers keep their eyes on the evolution of transactional capture? Spencer projects this area to grow for the next three years at a 16.5 percent CAGR from a base of $670 million last year.
“Major savings can be achieved through automating and integrating capture into the work process so that document-based information can be acted on at the earliest opportunity,” Spencer adds. Document-capture trends will be among the topics covered in an upcoming conference his firm will sponsor in September.
Posted by ajoch at August 21, 2008 02:43 PM
