The present invention is related to systems and methods for compressing image data while at the same time, improving both the compression ratio and the perceptibility of the decompressed image using a dynamic color matching scheme. Such features are achieved even when the image data is compressed without segregation into its scanned and non-scanned components. Color variant data is encoded using a dynamic color matching scheme to enhance the color fidelity of a decompressed image obtained from the encoded color variant data. As a result, improved perceptibility of decompressed images is achieved regardless of whether scanned images, non-scanned images or any combination thereof are collectively compressed. Such improved perceptibility is achieved regardless of whether the images are monochrome (having varying grey scale values) or color. In addition, improved perceptibility is realized in a manner which permits image data including scanned and/or unscanned images to be compressed in real-time.