Infosource Software has released its annual ranking of the leading vendors in the capture and intelligent document processing (IDP) software market. The "2024 Global Capture & IDP Software Vendor Matrix Report" features more than 20 vendors that are ranked on a combination of their strategy and capabilities (Y-axis) and execution in the market (X-axis).

Capture and IDP software is designed to acquire, classify and convert unstructured and semistructured 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 artificial intelligence (AI) over the past decade has transformed the industry.

In today's capture and 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.

Infosource's Matrix contains four categories of vendors:

• Stars – market leaders
• Disruptor – stronger in strategy and capabilities
• Competitor – stronger in execution
• Explorer – early in journey

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 at Infosource Software at rg@info-source.com.