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North American Medical Products and Services Provider Selects Kofax Solution for AP Automation

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

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