Document Capture Software
Most online and offline documents can be categorized as semi-structured data. They are not immediately processable by machines. Initially, template based software attempted to bridge this gap and allow companies to automatically extract data from documents. However, templates enable limited levels of automation and are hard to maintain. Since the last few years, vendors have built machine learning models using millions of sample documents. These models are able to automatically extract data from documents with a high accuracy rate
To be categorized as a document capture software, a product must be able to
- automatically extract data out of a specific type (e.g. invoice) or various different types of documents.
- provide a confidence for the extracted data so users can decide to auto-process or manually validate the software output
- provide a User Interface (UI) for manually validating and correcting extracted data
How are vendors scored in this category?
Data extraction performance is a key metric for these solutions. We have run a benchmark on the free trial/community edition software. In addition, we asked our clients for similar benchmarks.
- The vertical (Y) axis is a normalized measure of correctly extracted fields per document.
- The horizontal (X) axis is a normalized measure of extraction accuracy.
Compare Document Capture Software
AIMultiple is data driven. Evaluate 21 products based on comprehensive, transparent and objective AIMultiple scores. For any of our scores, click the icon to learn how it is calculated based on objective data.
Hypatos offers deep learning skills to automate document-based back office tasksto improve work and make organisations more efficient. The largest consumers of financial data including global manufacturing and retail leaders, the Big 4 and other Fortune 500 and technology companies rely on us. Hypatos outperforms industry standards by >10x and focuses on automation beyond data capture. Hypatos provides an enterprise grade automation module with on-prem, cloud deployment options and integrations to enterprise systems.
Searches with brand name
These are the number of queries on search engines which include the brand name of the product. Compared to other product based solutions, document capture software is less concentrated in terms of top 3 companies' share of search queries. Top 3 companies receive 76% (3% less than average) of search queries in this area.
Document capture software is a less concentrated than average solution category in terms of web traffic. Top 3 companies receive 69% (8% less than average solution category) of the online visitors on document capture software company websites.
Number of Employees
Median number of employees that provide document capture software is 58 which is 5
less than the median number of employees for the average solution category.
In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 16 companies (32 less than average solution category) with >10 employees are offering document capture software. Top 3 products are developed by companies with a total of 501-1,000 employees. However, 2 of these top 3 companies have multiple products so only a portion of this workforce is actually working on these top 3 products.