Nuance Document Imaging Named World’s Largest Document Capture Software Vendor for Fourth Consecutive Year
Independent Market Research Firm Ranks Nuance Market Leader, Citing Strength in MFP Capture with eCopy ShareScan, Equitrac and Copitrak
Nuance Communications, Inc., a leading provider of speech and imaging solutions, today announced it was ranked number one in global document capture software market share in a new study from the market research firm Harvey Spencer Associates (HSA). This report marks the fourth consecutive year Nuance has placed as the leading scanning and capture software vendor in the worldwide market.
The report, called “The 2013-2014 Worldwide Market for Document Capture Software,” found Nuance products captured 17 percent of the overall global document capture market in 2012 – leading all other companies. The study states Nuance is the leading provider of boxed OCR and desktop document storage and retrieval in the US. It goes on to add that the company is growing its “share of the MFP capture market through eCopy, Equitrac and more recently Copitrak.”
The report noted how the acquisition of Equitrac put Nuance “into the print management and cost recovery business which is becoming increasingly important as ‘document management’ is encompassing not just print statistics and management but also copying and scanning – the company is leveraging this into a better understanding of the costs of managing paper in today’s business world.” The report also called out how Nuance “is building a solutions business targeting Healthcare, Education, Finance, Government, Insurance and Legal” and that “in a number of these cases these solutions leverage both voice and imaging.”
HSA research shows the Ad Hoc Image market segment has been driven by the growing opportunity for the dealer channel to provide value-added services such as print management. Nuance owns 38.5 percent market share in the Ad Hoc Image segment, more than three times the amount of its nearest competitor. It also leads the competition with a 33.9 percent market share in Ad Hoc Transaction, defined as demand-based capture that is intended to be integrated into business processes. In both categories, the Nuance market share increased over the previous year.
“Nuance has moved aggressively into the MFP capture software space, which increased their direct sales as well as their OEM market presence,” said Harvey Spencer, president of HSA, the leading analysis company specializing in document capture. “Nuance has a strong MFP manufacturer and dealer ecosystem that positions their software well to add value to Managed Print Services engagements. We also expect Nuance will tap the synergy in vertical markets between its strengths in voice and image and offer more integrated solutions to these markets.”
The Nuance Document Imaging software portfolio includes Equitrac and Copitrak print management and cost recovery software, Nuance eCopy ShareScan scanning and workflow solutions, and Nuance OmniPage, PaperPort, PDF Converter Professional and eCopy PDF Pro Office desktop applications.
Nuance Document Imaging software boosts personal productivity, increases departmental efficiency and streamlines enterprise workflows. It delivers an end-to-end solution that supports workflows from MFPs to desktop and mobile devices to the cloud.
“Nuance achieving the market leader position for four consecutive years strongly demonstrates the outstanding value our solutions deliver in helping organizations work with documents more seamlessly and enhance their productivity,” said Michael Rich, senior vice president and general manager, Nuance Document Imaging. “Nuance continues to make major investments in our document imaging solutions so we provide sustained operational benefits and strong return-on-investment to our customers.”