IRVINE, Calif.--()--Kofax plc (LSE: KFX), a leading provider of capture enabled business process management (BPM) solutions, today announced that a market leading global semiconductor manufacturer will expand its invoice processing solution to extract detailed data from invoices in order to further streamline and speed existing processes. The value of the contract to Kofax exceeds $1 million.
“By augmenting Kofax Capture’s ability to simply scan and archive invoices, the customer will further streamline processes, dramatically reduce costs and increase the overall value of its capture investment”
The customer will expand its Kofax Capture solution to include Kofax Transformation Modules, Kofax VirtualReScan (VRS) Elite, Kofax Monitor and Kofax Communication Server to automate the processing of more than 2.6 million invoices and other accounts payable related documents it receives annually. The customer will use the Kofax software to capture, classify and extract information from the documents and then route the resulting digital information to an SAP application and Mobius repository, resulting in greater efficiencies, reduced manual tasks and accelerated processing times in invoice processing.
“By augmenting Kofax Capture’s ability to simply scan and archive invoices, the customer will further streamline processes, dramatically reduce costs and increase the overall value of its capture investment,” said Alan Kerr, Executive Vice President of Field Operations at Kofax.
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. This can significantly reduce retrieval costs while improving regulatory and compliance efforts. Kofax Capture is flexible and scalable, enabling customers to define where and how images are captured and indexed, whether in a home office, remote branch or back office data center.
Kofax Transformation Modules (KTM) adds document and form classification, page separation, challenging data extraction and validation capabilities to Kofax Capture to drive robust capture-to-process applications. By automating what were previously labor intensive, error prone and time consuming tasks, Kofax Transformation Modules can significantly reduce labor costs, improve information quality and accelerate business processes.
Kofax VirtualReScan (VRS) Elite is Kofax’s patented image enhancement and perfection software. Kofax VRS Elite reduces the time involved in manual document preparation and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document capture processes. High quality images are critical as they can significantly impact the success of downstream data extraction and retrieval needs.
Kofax Monitor provides real time monitoring and performance capabilities to ensure the operational health of Kofax Capture, and intelligent recognition and communication systems. It monitors the system’s components, including scanners supporting Kofax VRS, and its business service viability, providing real time access to operational information so immediate corrective action is taken.
Kofax Communication Server (KCS) enables the automated exchange of business critical information, linking both inbound and outbound services provided by devices such as fax and phone systems, media types that include email, FoIP, SMS, MMS, voicemail and telex, and applications such as ERP, CRM and Kofax enterprise applications.
Kofax plc (LSE: KFX) is a leading provider of capture enabled business process management (BPM) solutions. For 25 years, Kofax has provided award winning solutions that manage the capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in banking, insurance, government, business process outsourcing and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 800 authorized partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit www.kofax.com.
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