ShapeTexture is the most accurate method of applying textures to polygonal mesh, images used for textures can be registered to sub pixel accuracy with the scan data if a control reference is used.
ShapeTexture applies textures to polygon mesh files automatically.
You only need to register the images to the coordinate system of the polygon file. ShapeTexture allows for use of large image sets, so any number of images can be used for the textures, taking the best geometry for texturing the mesh. You have options for the seam blending and control of camera calibration parameters.
You also can make use of the new ShapeQuest .ccc file structure format (camera calibration and correspondence) that is used across the entire software suite. The new version uses a photogrammetric bundle solution for registration data or IMU information. It will work with any type of scanner, image based, laser, structured light including all Lidar systems.