DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets....rn8x/global_document) has announced the addition of the "Global Document Outsourcing Market 2014-2018" report to their offering.
The analysts forecast the Global Document Outsourcing market to grow at a CAGR of 5.25 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for end-to-end document process outsourcing. The Global Document Outsourcing market has also been witnessing the expansion of services by providers. However, the lack of flexibility with SLAs could pose a challenge to the growth of this market.
Key vendors dominating this space include Hewlett-Packard Co., Lexmark International Inc., Ricoh Co. Ltd., and Xerox Corp.
Other vendors mentioned in the report are American Reprographics Co., Canon Inc., Konica Minolta Holdings Inc., Kyocera Document Solution Inc., Pitney Bowes Inc., Toshiba Corp.
Commenting on the report, an analyst from the team said: Document outsourcing providers are trying to broaden their portfolio of service offerings in order to gain more market share. As companies increasingly depend on business process automation and use data in decision making, the significance of existing contracts are declining. The growing demand for services that provide multi-channel communications and support a mobile knowledge workforce is leaving companies at a loss due to a lack of technology, talent, and time to adopt and manage these systems. Therefore, forward-thinking document outsourcing providers are trying to persuade customers to adopt more effective communication platforms by increasing their offerings based on cutting edge technologies. In addition, in order to reduce complexities, organizations are trying to lessen the number of suppliers they work with as it is easier to add services from an existing supplier rather than having new vendors for additional services.
According to the report, the growth of the Global Document Outsourcing market is driven by several factors; one such driver is the demand for end-to-end document process outsourcing. Document processing is defined as the transformation of typed and handwritten text on paper-based or electronic-based documents into electronic information. Companies are recognizing the need to streamline their business processes to gain resource efficiencies, and therefore, a number of organizations across the globe are shifting control of their manual document processing to outsourced service providers
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