Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile TM of customer interactions, today announced the availability of Kofax TotalAgility TM 7.0, the world's first and only fully unified platform for the development and deployment of smart process applications (SPAs).
According to Forrester Research, a global research and advisory firm, SPAs represent a new category of software that support business activities that are people intensive, often unpredictable, loosely structured, collaborative and subject to frequent change.1
Examples include new customer onboarding applications such as account openings, loan applications, healthcare patient admissions and insurance claim submissions.
Kofax TotalAgility 7.0 is a market changing product that delivers an unparalleled combination of market leading capture, business process management (BPM), dynamic case management (DCM), data integration, analytics and mobile capabilities on a single, unified platform. Kofax TotalAgility 7.0 radically transforms and simplifies the processing of real-time, information intensive communications from customers and dramatically improves an organization's customer experience while greatly reducing operating costs, thus driving increased competitiveness, growth and profitability.
The demand for SPAs arose out of a growing chasm between the internal enterprise software applications organizations use to manage their business, or their systems of record, and the ways organizations interact with customers today, or their systems of engagement, which increasingly require support for mobile devices. Kofax TotalAgility 7.0 provides the essential link between an organization's systems of engagement and systems of record, enabling businesses to be more agile and responsive to customers, without the need to modify their ERP, CRM, ECM, line of business and other enterprise software applications.
Jeremy Hubbard, Director of Business Innovations at Loma Linda University Health in Southern California, said: "We're excited about Kofax TotalAgility 7.0 because it can help us become more customer centric and greatly enhance the way we interact with our patients and students. As a major academic health system, we deal with large volumes of information and data coming from different sources, ranging from student applications to patient admissions. Kofax TotalAgility 7.0 is ideal because it can help us meet our capture, process management and mobile goals on a single unified platform without having to make changes to existing systems, which will help keep our cost of ownership down."
According to Forrester: "What business needs now [is] flexible, adaptable apps that can address the messy and unpredictable processes and collaborative activities that are central to any business... Business executives want what we call 'smart process applications' -- a new generation of packaged applications that are being created specifically for these collaborative business activities." 1 In a December 2012 commissioned study conducted by Forrester on behalf of Kofax, the research firm estimated the market for information intensive smart process applications will grow at a compound annual growth rate of almost 60% from $0.6 billion in 2012 to $3.9 billion in 2016.
Kofax Chief Executive Officer Reynolds C. Bish, stated, "Businesses must execute well in all phases of a business process but especially in the first stage of customer engagements, which we call the First Mile. Interactions in the First Mile are dynamic, information-intensive interactions and can be extremely inconvenient for customers to deal with and for businesses to manage. Kofax TotalAgility 7.0 addresses this challenge by giving businesses the tools needed to capture, process and analyze those interactions in a uniquely differentiated manner that's unlike any other product on the market today."
Kofax TotalAgility 7.0 is the realization of a vision Kofax set in motion nearly five years ago and since then the company has invested approximately $125 million on its internal research and development efforts and strategically targeted acquisitions pursuing this goal. The market changing product is optimized for a wide range of SPAs in the financial services, insurance, healthcare, government, supply chain and other vertical markets. It is designed to significantly improve and reduce the costs associated with complex applications such as new customer onboarding and citizen benefit enrollments and allows organizations to leverage the power of mobile devices when interacting with customers.
Kofax TotalAgility 7.0 is completely web browser-based with a service oriented architecture, and is available in a comprehensive array of licensing and deployment models, including perpetual on-premise licenses and multi-tenant or dedicated instance hosted SaaS subscription services. The cloud-based offering is hosted on Microsoft Azure and provides low startup costs and speeds deployment times.
LA Live Kick Off Event
The company is officially launching Kofax TotalAgility 7.0 at L.A. Live in downtown Los Angeles today at 7:00 p.m. PDT. To view a live webcast of this historic event click here. To learn more about Kofax TotalAgility 7.0, click here or register for a live Kofax Connect event.
About Kofax
Kofax® plc (LSE: KFX) is a leading provider of smart process applications for the business critical First Mile of customer interactions. These begin with an organization's systems of engagement, which generate real-time, information-intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization's customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.
© 2013 Kofax, plc. Kofax is a registered trademark and First Mile and TotalAgility are trademarks of Kofax, plc.
1 Smart Process Applications Fill a Big Business Gap, Forrester Research, Inc., August 8, 2012
Media Contact: Kofax plc Colleen Edwards Vice President, Corporate Communications +1 (949) 783-1582 colleen.edwards@kofax.com or Investor Contact: MKR Group, Inc. Todd Kehrli +1 (323) 468-2300 kfx@mkr-group.com or FTI Consulting Sophie McMillan / Elodie Castagna +44 (0) 20 7831 3113 kofax@fticonsulting.com