Kofax, the worlds largest information capture vendor, today proudly announced that, along with its parent company DICOM Group, it has been named the global market share leader for document capture software by Harvey Spencer Associates Inc. (HSA). According to a new study entitled The Worldwide Market for Document Capture Software 2004-2008, Kofaxs 12-percent share outpaced all other vendors and was driven by the companys global network of more than 1,100 Certified Solutions Providers (CSPs).
HSA, a New York-based analyst and consulting company that specializes in document scanning and capture, tracked quarterly revenues for 2003 and 2004 from 88 unique companies that serve the document capture software market. The survey divides the market into four segments: ad-hoc and desktop scanning, batch and distributed scanning, data capture and process management, and full-text capture. Kofaxs market share (32 percent) in batch and distributed scanning is dominant, more than twice the nearest competitor. Adding the market share of this segment with data capture and process management to form what the survey refers to as high-end capture, Kofax owns a 50-percent lead over the nearest competitor.
With the studys anticipated double-digit growth in this market over the next few years, we are very excited about our own growth potential, in part because we have the top position in high-end capture and, with our Capio product, address the fast-growing segment for ad hoc and desktop capture, said Anthony Macciola, senior vice president of development and marketing at Kofax. We will aggressively protect our number-one market standing by delivering the highest standard of support to our CSPs and innovative products that meet our end users toughest requirements.
The study cites the synergy between Kofax, DICOM Group and three acquisitions made by both companies as leverage points in the companys market leadership: Kofaxs acquisition of Mohomine for categorization and classification; DICOM Groups acquisition of both Neurascript for data capture and TopCall for control over the input and output of other types of documents; and Kofaxs Ascent Capture platform, the leading capture product in the market, as the focal point for integrating all these technologies.
Successful vendors in the document capture market seek to move their technologies further up the value chain to accommodate end users who require multidimensional solutions that meet their specific business needs, said Harvey Spencer, principal of Harvey Spencer Associates Inc. As outside influences such as e-business, regulatory compliance, and competitive pressures mandate that large enterprises must process transactions more quickly and efficiently, Kofax and DICOM are positioning themselves with complementary technologies to help their end users improve the accuracy and speed of their document capture, reduce operational costs, and automate business processes.