Market Overview

Four Global Enterprises Select Kofax for Accounts Payable Solution

IRVINE, Calif.--(BUSINESS WIRE)--

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.”

About Kofax

Kofax® plc (LSE: KFX) is a leading provider of Capture Enabled BPMTM solutions. These award winning solutions capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and cost effective manner, enabling our customers to be more responsive to their constituents and better grow their businesses. Kofax solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these solutions 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.

© 2012 Kofax, plc. “Kofax” and Kofax MarkView®,” and “Kofax Virtual ReScan” are registered trademarks and “Capture Enabled BPM,” “Kofax Capture,” “Kofax Transformation Modules are trademarks of Kofax, plc.

Kofax® plc
Media Contact:
Kristin James
Public Relations Manager
+1 (949) 783-1434
kristin.james@kofax.com
or
Investor Contact:
Rebecca Mack
Sr. Investor Relations Manager
+1 949-783-1292
rebecca.mack@kofax.com

 

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