Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a global security services company has invested almost $700,000 to automate and streamline its accounts payable (AP) operations throughout Latin America.
The US-based organization is using Kofax’s market leading Capture, Transformation Modules and MarkView™ software for its comprehensive accounts payable automation solution to automatically capture, extract and process data from 600,000 invoices and vendor tax documents annually. Kofax was selected for its ability to provide the visibility needed to manage and control the invoice approval process while reducing labor and processing costs.
A May 2012 Aberdeen report, AP Invoice Management in a Networked Economy, stated that “The top two pressures driving interest in AP improvement were lack of visibility into invoices and documents and corporate directives to lower costs. Invoice management in a networked economy focuses on the connections that enable collaboration between trading partners. These connections offer supplier visibility to the status of outstanding invoices, and support dynamic discounting arrangements… to lower costs.”
“Hundreds of major organizations have adopted Kofax accounts payable automation solutions because of their proven ability to capture and automate invoice processing and data entry,” commented Howard Dratler, Executive Vice President, Field Operations at Kofax. “MarkView provides the tightest integration with leading ERP systems, enabling this global security services organization to centralize and process invoices from multiple countries into one shared service center.”
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