Major Global Insurance Company Invests $3.7 Million in Kofax Solutions
January 14 2014 - 3:00AM
Business Wire
Kofax Software Will Increase Productivity,
Improve Efficiencies and Dramatically Reduce Operating Costs in Its
Property and Casualty Business
Kofax® Limited (NASDAQ and LSE: KFX), a leading provider of
smart process applications for the business critical First MileTM
of customer interactions, today announced that a leading
international insurance organization has invested $3.7 million in
Kofax software to expand and enhance the way it is capturing and
processing documents within its property and casualty business.
The company is using Kofax Capture and Kofax Transformation
Modules™ to automatically capture and extract data from more than
160 million pages of documents per year, Kofax Analytics for
Capture™ to monitor and analyze the entire process and implementing
Kofax Mobile Capture™ to enable customers to submit documents using
smart phones and tablets.
“Insurers are among the most information intensive businesses,
and data accuracy and customer responsiveness are critical to their
success,” said Howard Dratler, Executive Vice President of Field
Operations at Kofax. “Using Kofax software, this global insurer has
already significantly increased productivity, improved efficiencies
and reduced operating costs. It is now leveraging Kofax’s business
intelligence and analytics to achieve operational excellence and
our mobile capabilities to enhance the customer experience. These
actions help make their First Mile™ smarter and drive competitive
advantage.”
The $3.7 million was composed of $3.0 million of software
licenses and $0.7 million of maintenance, and the sale was closed
and delivered during the quarter ended December 31, 2013.
About Kofax Capture: 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. Retrieval costs can be
significantly reduced while regulatory and compliance efforts are
reduced. 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.
About Kofax Transformation Modules: Kofax
Transformation Modules add 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.
About Kofax Analytics for Capture: Kofax Analytics
for Capture™ provides optimized out-of-the-box dashboards focused
on elevating the visibility into the effectiveness of the capture
solution. More importantly, it delivers interactive views into
system performance, accuracy and productivity to better enable
administrators to report on the effectiveness of their capture
solution and improve overall system throughput.
About Kofax Mobile Capture: Kofax Mobile Capture
extends Kofax imaging capabilities to smartphones and tablets. It
enables customers to use their device’s camera to capture images of
documents, photographs and data and pass that content to enterprise
applications and repositories. Capturing this information at the
Point of Origination™ from virtually anywhere, and delivering it to
enterprise applications accelerates processes, minimizes latency,
speeds transactions and reduces processing costs for better
customer service.
About Kofax
Kofax 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 financial services,
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.
© 2014 Kofax Limited. Kofax is a registered
trademark and First Mile, Kofax Transformation Modules, Kofax
Analytics for Capture and Kofax Mobile Capture are trademarks of
Kofax Limited.
Source: Kofax
Media Contact:KofaxColleen EdwardsVice President,
Corporate Communications+1 (949)
783-1582colleen.edwards@kofax.comorInvestor Contacts:MKR
Group Inc.Todd Kehrli+1 (323) 468-2300kfx@mkr-group.comorFTI
ConsultingSophie McMillan+44 (0) 20 7831
3113kofax@fticonsulting.com
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