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TMCNet:  Major Global Insurance Company Invests $3.7 Million in Kofax Solutions

[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.

About 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.


About 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.

About 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 throughput.

About 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.

About Kofax

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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