An information technology practice that basically manages the work related to organization, formatting, execution and distribution of data is called enterprise output management. The data utilized is said to be derived from enterprise/desktop application to any physical output media. Those enterprise applications may include banking information systems, insurance information systems, enterprise resource planning systems, customer relationship management, retail systems and many such others.
It is known that the output that is generated from the applications can be passed on and redirected to a printer, a fax machine, a web-based document, or to any other preferred destination. Output management software is basically a middleware that is deployed for the purpose of automating production, management, as well as for the distribution of output information. The system is hence recognized as a complicated overall process management system possessing manifold interfaces.
Output management software assists in incorporating workflow management systems and speed up the IT administrative work. It forwards the output process and handles the automated creation and transfer of business process and improvised documents. Middleware is software that is acting as a linkage or a connector between various software applications as far as the data formats, languages, and communication protocols are concerned.
The prominent factor that is driving the market growth to its peak is the augmented employment of the output management software in the healthcare sector. However, software compatibility and interoperability is the biggest challenge lying before the market. Outsourcing of output management services can be seen as the ongoing trend in the particular market.
Now-a-days, the top IT administrative and managers are in the search of those techniques and methods that will offer lower costs at the time of offering business productivity profits to the companies. Therefore, various output management solutions are being introduced to bring about enhanced document delivery properties and aspects to facilitate the work.
The system has been proven as quite helpful and effective as it has lowered the IT infrastructure requirements and has offered much control over document access and security. The market has attained much recognition and popularity across the globe. Moreover, it has been observed that majority of the leading enterprises in the world has adopted the system as it bestows guaranteed transfer of their business-critical documents. It allows them to manage their output costs, optimize document-related business processes, and offer enhanced services to their stakeholders and vendors.
Market size on the basis of end users spans BFSI, manufacturing, healthcare, and others. Comparatively, the BFSI sector is considered as the prominent end-user of output management software, the reason being augmenting employment of documentation in this particular market segment. Market size on the basis of geographical region spans North America, Asia Pacific, Europe, and Rest of the World.
As far as the geography is concerned, America is currently leading the market and has taken over the largest market share, the main reason being speedy progression of the BFSI sector in the United States. United States is playing the major role in raising the market share of the particular region. It is because United States is witnessing digitization in the healthcare industry and the time calls for data mining and analytics.
Major companies operating in the Output Management Software Market spans Rochester Software Associates, HP, Plus Technologies, Rocsoft, Neopost, Ricoh, LRS Output Management, KYOCERA, Lexmark, LRS, Pitney Bowes, Barr Systems, DocuMatrix, Formate, Fuji Xerox, Nuance, OpenText, and Unisys.
Research Support Specialist, USA