|[January 14, 2014]
Major Global Insurance Company Invests $3.7 Million in Kofax Solutions
IRVINE, Calif. --(Business Wire)--
Kofax® Limited (NASDAQ and LSE: KFX), a leading provider of
smart process applications for the business critical First MileTM
of customer interactions, today announced that a leading international
insurance organization has invested $3.7 million in Kofax software to
expand and enhance the way it is capturing and processing documents
within its property and casualty business.
The company is using Kofax Capture and Kofax Transformation Modules™ to
automatically capture and extract data from more than 160 million pages
of documents per year, Kofax Analytics for Capture™ to monitor and
analyze the entire process and implementing Kofax Mobile Capture™ to
enable customers to submit documents using smart phones and tablets.
"Insurers are among the most information intensive businesses, and data
accuracy and customer responsiveness are critical to their success,"
said Howard Dratler, Executive Vice President of Field Operations at
Kofax. "Using Kofax software, this global insurer has already
significantly increased productivity, improved efficiencies and reduced
operating costs. It is now leveraging Kofax's business intelligence and
analytics to achieve operational excellence and our mobile capabilities
to enhance the customer experience. These actions help make their First
Mile™ smarter and drive competitive advantage."
The $3.7 million was composed of $3.0 million of software licenses and
$0.7 million of maintenance, and the sale was closed and delivered
during the quarter ended December 31, 2013.
Kofax Capture: Kofax Capture provides industry leading
scan-to-archive capabilities by scanning documents and forms to create
digital images, extracting index data for retrieval purposes and
delivering the images and associated data to a variety of repositoris
and applications. Retrieval costs can be significantly reduced while
regulatory and compliance efforts are reduced. Kofax Capture is flexible
and scalable, enabling customers to define where and how images are
captured and indexed, whether in a home office, remote branch or back
office data center.
Kofax Transformation Modules: Kofax Transformation
Modules add document classification, page separation, data extraction
and validation capabilities to Kofax Capture to drive robust
capture-to-process applications. By automating what were previously
labor intensive, error prone and time consuming tasks, Kofax
Transformation Modules can significantly reduce labor costs, improve
information quality and accelerate business processes.
Kofax Analytics for Capture: Kofax Analytics for Capture™
provides optimized out-of-the-box dashboards focused on elevating the
visibility into the effectiveness of the capture solution. More
importantly, it delivers interactive views into system performance,
accuracy and productivity to better enable administrators to report on
the effectiveness of their capture solution and improve overall system
Kofax Mobile Capture: Kofax Mobile Capture extends Kofax
imaging capabilities to smartphones and tablets. It enables customers to
use their device's camera to capture images of documents, photographs
and data and pass that content to enterprise applications and
repositories. Capturing this information at the Point of Origination™
from virtually anywhere, and delivering it to enterprise applications
accelerates processes, minimizes latency, speeds transactions and
reduces processing costs for better customer service.
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 financial services,
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.
© 2014 Kofax Limited. Kofax is a registered trademark and First Mile,
Kofax Transformation Modules, Kofax Analytics for Capture and Kofax
Mobile Capture are trademarks of Kofax Limited.
Source (News - Alert): Kofax
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