June 26 2024 07:42 AM

Analyst firm ranks top vendors in the Capture & Intelligent Document Processing space

    Infosource Software has released its annual ranking of the leading vendors in the Capture & IDP SW market. The 2024 Global Capture & IDP Software Vendor Matrix Report features more than 20 vendors which are ranked on a combination of their Strategy and Capabilities (Y-axis) and Execution in the Market (X-axis).

    Capture & IDP SW is designed to acquire, classify, and convert unstructured and semi-structured information into enhanced usable data for business transactions, analytics, records management, discovery, and compliance applications. Historically, Capture relied on OCR, templates and other manually intensive techniques, but the introduction of AI over the past decade has transformed the industry.

    In today’s Capture & IDP market, the use of AI is table stakes. How vendors are leveraging AI is an important aspect Infosource considers in its Strategies and Capabilities ratings. For Execution, factors like size and geographical penetration of a vendor’s customer base and the strength of their partnerships are considered.

    Our Matrix contains four categories of vendors:
    • Stars – market leaders
    • Disruptor – stronger in Strategy and Capabilities
    • Competitor – stronger in Execution
    • Explorer – early in journey
    2024 Infosource Global Capture & IDP Vendor Matrix
    Source: Infosource
    As competition in the market becomes more intense, and new vendors continue to enter the space, seven ISVs achieved Star status. ABBYY, IBM, and OpenText carried over from last year, with Hyland, Microsoft, Tungsten Automation, and UiPath all moving up by strengthening their strategies and/or execution.

    The 2024 Global Capture & IDP Vendor Matrix Report features an expanded profile of each vendor, including an analysis on each of nine criteria used to establish their ranking. If you are interested in more information or purchasing a full copy of the report, please contact, Ralph Gammon, senior analyst, Infosource Software, rg@info-source.com.

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