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Four Global Enterprises Select Kofax for Accounts Payable Solution

Monday 05. November 2012 - Invoice Processing Automation Reduces Costs, Improves Controls and Service

Kofax plc (LSE:KFX), a leading provider of Capture Enabled BPM (business process management) solutions, today announced that four global enterprises have invested more than $1.6 million to streamline their operations and gain competitive advantage by using Kofax accounts payable (AP) and invoice processing automation solutions.
The four customers are:
A leading software vendor invested more than $470,000 to consolidate several distributed invoice processing centers using Kofax Capture, Kofax Transformation Modules, Kofax MarkView for Accounts Payable and Kofax MarkView AP Advisor.
A major consumer goods manufacturer invested more than $470,000 to expand its existing capture solution to include AP and invoice processing automation. The customer will use Kofax CaptureTM and Kofax Transformation ModulesTM to process more than 20 million invoices annually.
The business process outsourcing division of a global document management company selected Kofax to process more than 100 million pages of AP and related documents from a client in Eastern Europe. The investment in Kofax Capture, Kofax Transformation Modules and Kofax Virtual ReScan (VRS) Elite exceeded $400,000.
A leading oil services company invested more than $300,000 to expand its existing Kofax MarkView for Accounts Payable solution.
“There’s strong growth in the demand for automated invoice processing,” stated Aberdeen Group analysts Christopher J. Dwyer and Ankita Tyagi. “Accounts payable can drive enterprise value by increasing operational efficiency. Research shows that best-in-class performers are 46 percent more likely to have centralized invoice management processes.”
“CFOs recognize that by automating AP and invoice processing, they can reduce costs, take advantage of prompt pay discounts and better manage their cash,” said Howard Dratler, executive vice president of field operations at Kofax. “Our automated solutions can scale to meet the demands of the largest global enterprises and are also flexible enough to meet the needs of mid-size companies and government agencies.”