Global Engineering Firm Invests More Than $700,000 in a Kofax Accounts Payable Automation Solution

Solution Replaces Outsourced Service to Speed Processing and Reduce Costs

IRVINE, Calif.--()--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

Contacts

Media Contact:
Colleen Edwards, +1 949-783-1582
Vice President, Corporate Communications
colleen.edwards@kofax.com
or
Investor Contacts:
MKR Group Inc.
Todd Kehrli, +1 323-468-2300
kfx@mkr-group.com
or
FTI Consulting
Sophie McMillan, +44 (0) 20 7831 3113
kofax@fticonsulting.com

Release Summary

A global engineering firm invested over $700K in Kofax solutions to automate its accounts payable. It eliminated the BPO to bring AP automation in-house.

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Contacts

Media Contact:
Colleen Edwards, +1 949-783-1582
Vice President, Corporate Communications
colleen.edwards@kofax.com
or
Investor Contacts:
MKR Group Inc.
Todd Kehrli, +1 323-468-2300
kfx@mkr-group.com
or
FTI Consulting
Sophie McMillan, +44 (0) 20 7831 3113
kofax@fticonsulting.com