North American Medical Products and Services Provider Selects Kofax Solution for AP Automation
June 24 2014 - 3:00AM
Business Wire
Consolidation of Accounts Payable Processes
Drive Efficiencies and Cost Savings
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 an organization that
provides medical products and services throughout North America
selected Kofax MarkView® for AP, Kofax Capture™, Kofax
Transformation Modules™ and Kofax Analytics for Capture™ to
automate its accounts payable (AP) processes.
The customer selected Kofax for its expertise with AP best
practices and providing solutions for SAP environments that
streamline the capture of invoices, automate manual data entry and
exception resolution and provide near real time insight into the
invoices being processed in order to better plan and manage cash
flow.
“Finance executives recognize the importance of streamlining
accounts payable processes but don’t always understand how to
measure solution effectiveness,” commented Howard Dratler,
Executive Vice President of Field Operations at Kofax. “With Kofax,
they can lower costs, take advantage of more early payment
discounts, better manage their cash flow and reinforce operational
compliance.”
Kofax MarkView for AP 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.
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.
Kofax Transformation Modules (KTM) is an integrated platform of
applications that streamline the transformation of different
document types into structured electronic information, ready for
delivery into business systems and processes.
Kofax Analytics for Capture provides optimized out-of-the-box
dashboards that elevate visibility into the effectiveness of a
capture solution.
The infographic, Finding Revenue in Your AP Automation Process,
illustrates how such solutions can benefit organizations. To obtain
a copy, please visit
http://www.kofax.com/downloads/pdf/Kofax-AP-infographic.pdf.
The sale consisted of approximately $275,000 in software license
revenue and $160,000 in maintenance and professional services fees.
It closed during the current quarter of fiscal year 2014.
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 Kofax MarkView are registered
trademarks and First Mile, Kofax Capture, Kofax Transformation
Modules and Kofax Analytics for Capture are trademarks of Kofax
Limited. All other registered trademarks and trademarks are the
property of their respective owners.
Source: Kofax
Media:Kofax LimitedColleen Edwards, +1 949-783-1582Vice
President, Corporate
Communicationscolleen.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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