Software Reduces Operational Costs by 30 Percent
Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a Fortune 500 technology company is expanding the use of its Kofax invoice processing solution by investing an additional $260,000. This expansion will bring the total number of documents the customer automatically captures and processes to more than five million annually.
The customer originally selected the Kofax AP automation solution over an Oracle alternative to automate the capture of invoices from multi-function peripherals, mobile devices, emails, and faxes. Once captured, the content is automatically extracted and perfected for use in its downstream ERP system, all while ensuring information quality. Based on the success of its initial implementation, the company sought to expand the Kofax solution to take advantage of additional operational cost savings of 30 percent annually, arising from reduced staff, increased efficiencies, and optimized discounts from timely payments.
“When some of the largest technology companies in the world select Kofax solutions to automate their invoice processing, that’s a real testament to the effectiveness of our smart process applications,” stated Howard Dratler, Executive Vice President of Field Operations at Kofax. “It’s important to note, however, that our invoice processing solution is scalable for mid-sized companies in any industry and has the potential to generate similar results.”