We’ve dusted off the crystal ball and here are my predictions for 2007 in the Document Capture and Payments Industries (in no particular order);
1. Continuing on 2006’s momentum; expect further company mergers (vendors) and acquisitions including one very large merger on the document management side of the house.
2. Expect some new technology applications to finally take hold and users becoming more educated in the forms processing industry. In particular looking at technology as a solution to decrease labor costs including auto-classification and new robust recognition technology. This should result in lowering the need for verification off-shore and further decreasing labor costs.
3. The crystal ball sees a rapid growth in remote check capture implementation at the merchant level although reaching close to a saturation point by the end of the year losing steam in 2008. Expect the same trend at the branch level reaching a similar saturation point with some operational roll out bumps and bruises along the way.
4. Digital Mailroom gaining major traction with some compelling case studies coming out in 2007 from corporate customers on implementation, experiences, and ROI.
5. Another very large bank merger similar to BofNY and Mellon....................
You heard it here first folks. Let’s see how things shake out for 2007.
1. Continuing on 2006’s momentum; expect further company mergers (vendors) and acquisitions including one very large merger on the document management side of the house.
2. Expect some new technology applications to finally take hold and users becoming more educated in the forms processing industry. In particular looking at technology as a solution to decrease labor costs including auto-classification and new robust recognition technology. This should result in lowering the need for verification off-shore and further decreasing labor costs.
3. The crystal ball sees a rapid growth in remote check capture implementation at the merchant level although reaching close to a saturation point by the end of the year losing steam in 2008. Expect the same trend at the branch level reaching a similar saturation point with some operational roll out bumps and bruises along the way.
4. Digital Mailroom gaining major traction with some compelling case studies coming out in 2007 from corporate customers on implementation, experiences, and ROI.
5. Another very large bank merger similar to BofNY and Mellon....................
You heard it here first folks. Let’s see how things shake out for 2007.
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