The Capture Service Provider Market Progresses with Increased Automation
By Kemal Carr, President
Madison Advisors is pleased to announce the publication of the 2020 Capture Service Provider Market Study. We have been following the capture service providers (CSP) solutions, as well as the latest trends in the inbound document processing market.
As part of the study, Madison Advisors conducted in-depth interviews with participants to assess their capabilities, service offerings, strategic direction/roadmaps and differentiators. Our research also includes trends in intelligent automation (IA) technologies, such as robotic process automation (RPA) and artificial intelligence (AI), and how these tools are transforming service offerings and traditional pricing models.
The capture industry has experienced significant changes in the last 5-6 years due to the speed and reliability brought to inbound workflows by bots and AI tools. CSPs are now more focused on automated software technologies compared to the decades-long focus on hardware and highly trained data entry teams. Advanced software technology tools streamline inbound workflows by applying automation to the document sort and classification steps, increasing data capture accuracy and improving the speed of document processing.
Study participants have changed their pricing models to reflect these enhanced workflows—trends about which the study provides insight. Emerging technology impacting the capture industry is also covered.
Key topics included in the study are:
- A market overview of current automated tools for inbound document processing
- Strategies and solutions for return mail
- Chain of custody requirements and the evolution of dashboards, portals and reporting
- Pricing models for inbound mail processing
- Overview and differentiators of the different CSP inbound mail solutions we assessed
CSPs are adapting their services to provide additional transparency and end to end chain of custody tracking to satisfy clients’ document governance requirements. Once considered a value-added service, this type of tracking is now a required offering of top tier providers.
To purchase the full research report “Capture Service Provider Market Study,” click here.