Advanced Data Capture

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01
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Part
01

Advanced Data Capture Overview

Industry statistics suggest that 90% of enterprise content is unstructured. Valuable, confidential and business-critical data is buried in organizational documents and is difficult to find and manage.
Advanced Data Capture is a technology involving software and hardware that can classify, extract and validate information from business documents, thereby reducing manual data entry and document processing efforts.
The various technologies and techniques used in ADC, the key players and the uses of ADC in different industries are summarized below and in the attached spreadsheet.

TECHNOLOGY AND TECHNIQUES

Advanced Data Capture techniques include enhanced Optical Character Recognition (OCR), image comparison technology, Content/Flow analysis, document cleansing, PDF interpretation, and other techniques that enable organizations to extract intelligence and unlock value from their unstructured content.

KEY PLAYERS:

RPI Consulting are some companies that offer products and services for Advanced Data Capture.

ADC IN DIFFERENT INDUSTRIES:

Advanced Data Capture technologies are being used across industries to significantly reduce the cost and effort involved in manual data entry and processing.
It is used in the finance industry for mortgage loan processing, opening of new accounts, credit card application processing, check fraud prevention, etc.
In the healthcare industry it is used in patient registration, capture of patient records, and in billing and claims processing
In industries like insurance, education, BPO, and in government, it is used for the conversion of scanned paper, images, and PDFs to editable documents, in the creation of high-volume searchable archives creation, and in high-volume document, form and invoice processing
FUTURE TRENDS:

Forrester Research predicts that in the next five years advanced data capture platforms will incorporate analytics, business process management, case management, and stronger integration with enterprise production platforms.

CONCLUSION:

In conclusion, Advanced Data Capture is an area which has seen large-scale adoption across industries. It has helped to reduce costs, labor, processing time and the scope for human error, thereby helping enterprises to become more efficient in their document strategy. ADC is expected to become evermore powerful and widespread in the future years.
Part
02
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Part
02

Analysis of Advanced Data Capture Industry

Honeywell, Datalogic, Denso Wave, and Cognex are the top four companies in the advanced data capture software industry according to revenue. Full details about the tools offered by each company are available in the attached spreadsheet. Additional details about the research and findings are presented below.

RESEARCH STRATEGY

First, I set out to identify the top players in the advanced data capture software market. I found several listings of the top and best data entry and data capture software solutions. I also found the best lead data capture solutions (used in high-sales events like conference exhibiting). However, there were no pre-compiled lists that identified the niche data capture market of automated, intelligent or advanced products. Instead, there were numerous examples of promotional content by prospective companies about their advanced data capture offerings. But there was nothing to say that, in comparison to others in its field, it was the best in terms of revenue.

Next, I started looking for industry reports and news articles from respected technological industries (like TechCrunch) that might have published recent high-profile articles about advanced data capture software solutions or companies. This is where I identified several industry reports (Logistics Management, Future Market Insights, and OpenPR which is a report focused primarily on France and other geographies but introduces additional key players to better know the market) noting key players in the field.

Then, I compiled the industry leaders noted in these three industry reports and reviewed their product listings for advanced data capture software (only those leaders offering these exact solutions are included in the list below). Finally, I reviewed the companies’ revenues. Using this strategy, I identified the leading advanced data capture software providers by revenue.

FINDINGS

A review of company product offerings shows that many of the top brands focus on barcode reading as a major data capture solution. Cognex focuses squarely on the manufacturing industry but the other leaders provide software for various industries. All the top leaders provide hardware and software solutions. The following list provides the top advanced data capture companies arranged by revenue.

1. Honeywell International Inc. ($1 billion)

CONCLUSION

Full details of the analysis including specific information on tools, functions, and client industries are provided in the attached spreadsheet.
Sources
Sources