Major Retail Franchise Operator in Middle East Invests in Kofax Solution to Automate Accounts Payable
February 11 2014 - 3:00AM
Business Wire
Kofax Delivers Best Combination of Cost Savings
and Analytics
Kofax® Limited (NASDAQ and LSE: KFX), a leading provider of
smart process applications for the business critical First Mile™ of
customer interactions, today announced that a major retail
franchise operator in the Middle East has invested more than
$650,000 in a Kofax solution to fully automate its accounts payable
function. The company selected Kofax MarkView® for AP to capture
and process more than 1.2 million invoices or approximately 12
million pages of information per year and use Kofax Analytics for
Capture™ to analyze the system’s performance, accuracy and
productivity.
The company’s increasingly high volume of invoices and
aggressive plans for expansion drove its need for a capture and
workflow solution that could quickly and intelligently manage
millions of documents in a shared offsite service center, and
integrate seamlessly with its Oracle E-Business Suite. After
evaluating solutions from a variety of vendors, the company
selected Kofax because it delivered the best combination of cost
savings and analytics.
The sale was comprised of approximately $400,000 in software
licenses, $150,000 in professional services and $100,000 in
maintenance. The transaction was closed and delivered during the
quarter ended December 31, 2013.
“As a result of its investment in Kofax MarkView for AP and
Analytics for Capture, this retailer can fully automate and
simplify a process that used to consume countless hours and human
resources,” said Howard Dratler, Executive Vice President of Field
Operations at Kofax. “This improvement in productivity and
operational efficiency directly supports our customer’s goal of
continuing its rapid expansion.”
About Kofax MarkView for AP
Kofax MarkView for AP 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.
About Kofax Analytics for Capture
Kofax Analytics for Capture™ provides optimized out-of-the-box
dashboards that elevate the visibility into the effectiveness of a
capture solution. It also 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
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 and MarkView are registered
trademarks and First Mile and Analytics for Capture are trademarks
of Kofax Limited.
Source: Kofax
Media:KofaxColleen EdwardsVice President, Corporate
Communications+1-949-783-1582colleen.edwards@kofax.comorInvestors: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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