IRVINE, Calif., Feb 28, 2012 (BUSINESS WIRE) -- Kofax plc, a leading provider of capture enabled business process management (BPM) solutions, today announced that a leading technology consulting and integration services firm has selected Kofax for its accounts payable automation solution. The value of the contract to Kofax exceeds $350,000.
The customer will implement Kofax Capture, Kofax Transformation Modules, Kofax MarkView, Kofax MarkView AP Advisor, Kofax SupplierExpress and Kofax e-Transactions to automate the processing of approximately 60,000 invoices annually. The Kofax solution will enable the company to capture, classify, separate and extract content for accelerated processing and then route the resulting digital information to an Oracle ERP application.
"Accounts payable departments are no longer viewed as simply a cost center," said Alan Kerr, Executive Vice President of Field Operations at Kofax. "Today they are integral components in an enterprise that enables better vendor relationships, cash management, contract and policy compliance, reporting and analysis. Organizations are recognizing the value provided by automating accounts payable and other business processes that lead to fast ROIs."
Kofax Capture provides industry leading scan-to-archive capabilities by scanning documents and forms to create digital images, extracting index data for retrieval purposes and delivering the images and associated data to a variety of repositories and applications. This can significantly reduce retrieval costs while improving regulatory and compliance efforts. Kofax Capture is flexible and scalable, enabling customers to define where and how images are captured and indexed, whether in a home office, remote branch or back office data center.
Kofax Transformation Modules (KTM) adds document classification, page separation, data extraction and validation capabilities to Kofax Capture to drive robust capture-to-process applications. By automating what were previously labor intensive, error prone and time consuming tasks, Kofax Transformation Modules can significantly reduce labor costs, improve information quality and accelerate business processes.
Kofax MarkView is a comprehensive, capture enabled financial process automation application for accounts payable and other functions. It automates the receipt and capture of paper and electronic invoices, performs data extraction and perfection, and manages workflows for routing transactions through exception handling and approval processes, significantly reducing cycle times and costs while optimizing process control and cash flow management.
MarkView AP Advisor is an optional product to Kofax MarkView. It provides AP and Finance managers with real-time business process intelligence, plus the ability to immediately intervene to optimize cash management and resolve process issues impacting AP performance and SLAs.
Kofax SupplierExpress is an AP portal that automates routine supplier interactions including invoice submission and inquiries. Through supplier self-service, this low cost, easy to adopt, pay-as-you-go solution reduces cost and errors and enhances AP automation payback. Kofax SupplierExpress is an option to Kofax MarkView.
Kofax e-Transactions (KeT) eliminates the need for the printing, mailing, scanning and entry of information from documents and forms by enabling the electronic delivery and capture of documents from a sender to a receiver via secure email. Designed for enterprises wanting to migrate from paper to electronic based processes, it can reduce labor costs, improve information quality and accelerate business processes without the cost and complexity of an electronic data interchange (EDI).
About Kofax
Kofax plc is a leading provider of capture enabled business process management (BPM) solutions. For 25 years, Kofax has provided award winning solutions that manage the capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in banking, insurance, government, business process outsourcing and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 800 authorized partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit http://www.kofax.com .
"Kofax" is a registered trademark in the US, the EU and other regions. All other trademarks and registered trademarks are the property of their respective owners.
SOURCE: Kofax plc
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