Friday, November 7, 2014

Data Capture Market Of 2015 - Navigating Competitive Landscape - Part 1

These articles will make it easy for you to navigate competitive world of vendors, products and prices of Data Capture Market of 2015.


Data Capture market continues to expand. According to MRI, Automatic Data Capture segment will grow by 12.29%, in the period starting 2012 to 2016 with one of the key factors contributing to this market growth being the increasing need for accuracy in data computation.
Kofax, ECM Captiva, IBM Datacap and KnowledgeLake continue to lead the market in the image processing part and Microsoft, Hyland Software, Open Text and Lexmark' Perceptive Software are named as overall ECM Market Leaders by Gartner as of September 2014.
Below is a copy of Gartner's Magic Quadrant for Enterprise Content Management:


Now if you're considering a new or a replacement data capture solution for yourself or your client - you'll be facing a dilemma - go with one of these market leaders, dig deeper and look for the 'perfect match' or simply try to get something without paying a whole lot. The first solution may save you time in decision making stage and seem like a good choice, as the story goes, "nobody was fired for hiring IBM".
Some clients always try to go with the cheapest solution and many end up in the proverbial "'Penny Wise.." trap when money saved on licensing and support costs are quickly drained by the cost of custom development. Yes, open source data capture tools like Ephesoft do exist and may serve as a sound alternative, but you need to fully understand the strengths and weaknesses of these tools and be making an informed decision.
This whitepaper will quickly take you to the next level of understanding and reap the benefits of a 'perfect match' type of tailored solution. This may come in especially helpful considering the fact of, as Gerald Baker of Encyclopedia of Document Management said,
"We find that suppliers tend to shy away from simple descriptions of what their software can and cannot do - words like "fastest","rich in features", "world's leading" and "multi-function" add little to clarify exactly what the product offers."


Document Capture has many aspects to it, and each of them has its own leaders, effective and not-so-effective approaches and client-specific considerations.
Let's start by looking at the overall Content Lifecycle: (See diagram below)

Picture Credit: "From Unstructured to Strategic: Enterprise Content Management with Oracle WebCenter"

The first three stages represent the key activities of Document Capture - and they represent the key areas of concern:
  • Scanning,
  • Extraction and
  • Image Management.
Taking a deeper look at each of these key components will help you better understand your specific needs and see what solution (or a combination) may offer a better fit.

In the following articles I'll walk you through the specific areas of concern, that will make it easy for you to see the strengths and weaknesses of each particular data capture solution.

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