Document Capture Software Sales Increasing

Today, Aug 2005

Study Shows Invoice Capture Spurring Growth

Worldwide shipments of document capture software grew by 15% in the first quarter of this year over Q1 2004, according to recent report by Harvey Spencer Associates (HSA). The document-capture consulting and analyst company reports that software sales revenue for the quarter amounted to $211 million (based on end-user prices). Document capture software is typically used by corporate or public sector organizations to scan and index paper documents into electronic content management systems, and to automate data capture from paper documents.

"The market is showing solid growth," said Harvey Spencer, HSA president. "Interestingly, growth was higher in the European market than in North America and the rest of the world, despite slower overall economic growth in Europe."

The analyst cites a number of major sales as well as, "greater growth in the automated processing of invoices, in Europe than elsewhere." Spencer said, "It seems that the clear cost-savings benefits, combined with pressure to manage business transactions faster, is driving the document capture business."

The study is available by subscription from Harvey Spencer Associates (www.harveyspencer.com).