MarkView® for AP Software Automates Accounts Payable Operations to Increase Productivity and Efficiency While Reducing Costs
IRVINE, Calif.--(BUSINESS WIRE)-- Kofax® Limited (NASDAQ: KFX) (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a leading construction and engineering company in North America has invested more than $700,000 in Kofax MarkView for AP software to automate its accounts payable operations and seamlessly integrate with its Oracle ERP system.
The company will use MarkView to automatically process at least 120,000 invoices per year with the potential to increase that volume to one million invoices per year. The company’s goal in implementing the solution is to dramatically reduce manual labor costs while increasing productivity and efficiency throughout its accounts payable process.
“This customer recently made a substantial investment in its ERP system and was looking for a smart process application that would quickly and easily help maximize the return on that investment,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “The company was thorough in its evaluation of various software providers and ultimately chose Kofax because of our market leading position and the fact that our solutions outperform competitive offerings.”
Kofax MarkView for AP is a comprehensive, capture-enabled financial process automation application for accounts payable and other functions. It automates the receipt and capture of paper and electronic invoices, performs data extraction and perfection, and manages workflows for routing transactions through exception handling and approval processes, significantly reducing cycle times and costs while optimizing process control and cash flow management.
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 banking, 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.
©2013 Kofax Limited. Kofax and MarkView are registered trademarks and First Mile is a trademark of Kofax Limited.
Source: Kofax Limited