Without revealing the name of its latest partner, Kofax , a provider of Capture Enabled BPM (business process management) solutions, has made announcement of a deal with a provider of security and related monitoring services for homes and businesses in North America. The value the deal to Kofax is more than $450,000.
According to a press release, under this deal, the customers will be able to expand its Kofax Capture solution to include Kofax Transformation Modules, Kofax MarkView and Kofax VRS Elite to automate the processing of approximately 900,000 invoices, legal contracts, tax and other documents annually.
"An investment in accounts payable automation can increase visibility, improve control and increase processing speeds to help optimize cash management and deliver a measurable ROI in 12 to 18 months," said Alan Kerr, executive VP of Field Operations at Kofax.
This updated solution will allow customers to capture, classify and extract data from the documents and route the resulting digital information to its Oracle (News - Alert) ERP application for reduced latency and easy access by employees. These solutions help the businesses to flow critical information throughout the organization in a more accurate way.
The document classification, page separation, data extraction and validation can be made easy with Kofax Transformation Modules. It can significantly reduce labor costs, improve information quality and accelerate business processes.
Kofax MarkView 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 workflow for transactions.
Kofax VirtualReScan Elite, a patented image enhancement and perfection software of the company, decreases the time involved in preparing manual documents and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document capture processes.
Edited by Brooke Neuman