|By Business Wire||
|March 24, 2014 02:31 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/8fj5hn/global_document) has announced the addition of the "Global Document Capture Software Market 2014-2018 with EMC Corp., Kofax plc, and Nuance Comms Dominating" report to their offering.
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.
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.
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 key vendors dominating this market space are:
- EMC Corp.
- Kofax plc
- Nuance Communications Inc.
Other vendors mentioned in the report are ABBYY Software
- Adobe Systems
- Canon Inc.
- Capsys Corp.
- DocuLex Inc.
- Hyland Software Inc.
- IBM Corp.
- Kodak Company
- KnowledgeLake Inc.
- Notable Solutions Inc.
- Omtool Ltd.
- Oracle Corp.
- Outback Imaging Pty Itd
- Perceptive Software
- ReadSoft Inc.
- Xerox Corp.
For more information visit http://www.researchandmarkets.com/research/8fj5hn/global_document
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