Capture Software: Kofax Extends Its Leadership In Capture Software Market
Kofax, the information capture vendor, recently announced that it has been recognized as the market leader in the software capture market, according to a just-released report by Harvey Spencer Associates, Inc., an independent analysis and research company.
"The software capture market is poised for substantial growth, with the potential to reach $2.42B by 2010," said Harvey Spencer, principal of Harvey Spencer Associates Inc. "Kofax is successfully positioning itself to maintain its leadership as the market drives into more business processes. Kofax has released a new architecture that will carry it through the decade – Intelligent Capture and Exchange represents the first iteration of this which we believe will be successful in the marketplace."
The report, "The Worldwide Market for Document Capture Software 2006 – 2010," measures end-user software expenditures in 2006, compares those with 2005 numbers and projects revenues through 2010. It divides the software capture market into four categories: Ad-hoc and desktop scanning, batch and distributed scanning, transaction data capture and process management, and full-text capture.
"Kofax is deeply committed to continuing to bring innovations to market to better serve the needs of our customers and partners," said Rob Klatell, chief executive officer of Kofax's parent company, DICOM Group. "We are extremely pleased that one of the most respected analysts in the industry, Harvey Spencer, has once again recognized the company for its market leadership and for its successful strategic positioning with Kofax Intelligent Capture & Exchange."
Increased Market Share, Strength of Channel
In the report, Kofax is highlighted for having successfully increased its overall market share to 14 percent on the strength of its value-added reseller (VAR) channel and vertical solutions. As a result, Kofax has extended its market share lead over its nearest competitor, securing its reputation as the top vendor across all four capture categories, as defined by Harvey Spencer Associates.
This year marks the first time Kofax is included among the top five vendors in the transaction data capture and process management category, an indication of the company's initial success in this market segment. Kofax Intelligent Capture & Exchange, which launched late last year and allows organizations to link paper-based and electronic information with mission-critical business activities, was instrumental in propelling Kofax to the top of this category.
In addition, Kofax continues to dominate the batch and distributed capture software market, which relies on batching volumes of documents for conversion to images that enter a workflow. The study reports that this market segment has matured, with 40 percent of the market share attributed to Kofax, representing a two-to-one lead over competitor EMC/Captiva.
About Harvey Spencer Associates
Harvey Spencer Associates is an analyst and market consulting company founded in 1989 to specialize in document scanning, recognition and allied technologies. Based on Long Island, NY, Harvey Spencer Associates specializes in the hardware and software used for capturing images and data from business transactional forms and paper based media. This includes electronic document imaging, forms processing software, OCR and other associated recognition technologies and the integration of paper and electronic forms in B2B and other environments. More information on the company and the services offered can be found on its website at: www.harveyspencer.com, by calling Harvey Spencer Associates at 631-368-8393 or e-mailing to inquiries@hsassocs.com.
About Kofax
Kofax, a division of DICOM Group plc, is a global leader of Intelligent Capture & Exchange solutions. Its leading edge capture and exchange technologies and solutions enable Business Process Automation by managing the transformation and exchange of business-critical information (residing in various formats such as paper, fax, electronic documents, e-mail, SMS) among people, applications and devices. Kofax products are widely used in finance, government, insurance, healthcare, and a broad range of companies and agencies that must capture critical business information from paper and electronic documents and forms.
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