Global Engineering Firm Invests More Than $700,000 in a Kofax Accounts Payable Automation Solution
July 30 2014 - 3:00AM
Business Wire
Solution Replaces Outsourced Service to Speed
Processing and Reduce Costs
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 leading global
engineering firm based in Europe is now using Kofax CaptureTM,
Kofax Transformation ModulesTM, Kofax e-TransactionsTM and Kofax
Analytics for CaptureTM to automate the capture and processing of
invoices and provide advanced analytics to monitor and meet
internal key performance indicators (KPIs).
By deploying the Kofax solution, the organization was able to
bring invoice processing in-house to better manage and control
costs, improve the quality and security of the data captured, and
reduce processing times. The customer estimates it will achieve a
25% cost savings by not outsourcing.
“Outsourcing business processes such as accounts payable can be
cost effective if the outsourcer is using a highly scalable,
accurate and automated solution like we provide,” commented Howard
Dratler, Executive Vice President of Field Operations at Kofax. “In
this case, the customer found the benefits of using Kofax in-house
far outweighed those of the outsourced service. The engineering
firm, which has over 100,000 employees, is now looking to expand
its Kofax solution with mobile expense claims capabilities.”
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 a set of add-on
applications for Kofax Capture that streamline the transformation
of different document types into structured electronic information,
ready for delivery into business systems and processes.
Kofax e-Transactions is an add-on application for Kofax
Transformation Modules that automates the electronic delivery of
documents to a business process via secure email, removing the need
for printing, mailing, scanning and data entry.
Kofax Analytics for Capture provides optimized out-of-the-box
dashboards that elevate visibility into the effectiveness of a
capture solution.
The sale, which closed during the fourth quarter of fiscal year
2014, consisted of more than $500,000 in software license revenue
and almost $200,000 in maintenance and professional services
fees.
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 Capture, Kofax Transformation Modules, Kofax
e-Transactions and Kofax Analytics for Capture are trademarks of
Kofax Limited.
Source: Kofax
Media Contact:Colleen Edwards, +1 949-783-1582Vice
President, Corporate
Communicationscolleen.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
Kofax (LSE:KFX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kofax (LSE:KFX)
Historical Stock Chart
From Jul 2023 to Jul 2024