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Kofax Enhances ReadSoft Online R9

Cloud Capture and Invoice Processing Solution Simplifies and Transforms the Accounts Payable Process 

Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, today announced the availability of ReadSoft OnlineTM R9, a cloud-based capture and invoice processing solution.

ReadSoft Online automates the accounts payable process by capturing invoices, extracting invoice data and exporting verified data to ERP, accounting and other applications. Built on Microsoft Azure, its setup is quick and does not require IT resources.

Key enhancements with this release include:

  • A new HTML5 interface offering an intuitive screen presentation that makes it easier for developers to generate interface improvements with little or no training.
  • Upgraded capture capabilities with enhanced line item extraction, learning and optimisation to readily identify country specific invoices, improved custom extraction fields and enhanced auto learning.
  • Improved reporting for better extraction of key analytical data and access to reports using Microsoft Excel.
  • Increased partner channel autonomy with simple integration to applications through easy-to-use APIs and XML outputs.

ReadSoft Online R9 builds on previously released features including multi-language support, line item extraction, supplier recognition and Excel import for master and purchase order data and reporting. As a cloud-based solution, updates and enhancements are deployed in an automated manner allowing customers to access new features as they are incorporated into the product.

For enterprise and large-scale ERP customers, ReadSoft Online standardises the process across varied landscapes to eliminate paper, reduce costs and improve supplier relationships. For SMB customers, the solution provides an affordable, flexible way to automate accounts payable processes.

"The cloud is changing the face of AP automation," said Reynolds C. Bish, Chief Executive Officer of Kofax. “ReadSoft Online R9 leverages the cloud to offer the best capture, extraction and validation solution for invoice processing and AP automation. The solution provides immediate ROI and generally yields up to an 80% reduction in costs due to fewer labour intensive, manual processes and improved cycle times.”

Kofax is a leading provider of software to simplify and transform the First Mile™ of business. Success in the First Mile can dramatically improve the customer experience, greatly reduce operating costs and increase competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 25,000 customers in financial services, insurance, government, healthcare, higher education, supply chain, business process outsourcing and other markets. Kofax markets its solutions via a direct sales and service organisation, along with a global network of more than 1,000 authorised partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific.