Leading Global Power Management Company Invests $1.1 Million in Kofax MarkView for AP Automation

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 one of the largest power management companies in the world has invested an additional $1.1 million in Kofax MarkView^® for AP to improve accounts payable operations worldwide.

Already a Kofax MarkView for AP user in the US, the power management company decided to standardize on the industry-leading Kofax solution for all service centers across EMEA, APAC and Brazil. MarkView for AP will now provide automated multichannel capture, transformation and workflow for more than two million invoices processed annually by the company. MarkView for AP reporting features will provide additional visibility into each service center, allowing the customer to monitor, evaluate and improve efficiency at both the regional and global level.

"The superior multichannel capture technology in Kofax MarkView for AP will enable this customer to process every type of hardcopy and digital invoice, plus handle the unique characteristics of invoices produced in different regions of the world,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. "This is increasingly important in today’s global economy. MarkView for AP will dramatically improve efficiency, eliminating manual data entry and validation, and provide certified integration with the customer’s Oracle infrastructure. These capabilities are a real game-changer for this company.”

Kofax MarkView for AP automates AP operations to significantly reduce cycle times and costs while optimizing process control and cash flow management. The solution provides industry-leading information capture and automates invoice processing and data entry. It includes best practice workflows for discrepancy processing, resolution and accounting details as well as real-time, certified ERP integration for SAP and Oracle E-Business Suite.

The sale closed in the second quarter of Kofax’s fiscal year 2015 and included over $500,000 in software license revenue and $600,000 in professional services and maintenance. The company is also looking to further leverage its extensive Kofax infrastructure to improve other business processes, starting with accounts receivable.

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 and MarkView are registered trademarks and First Mile is a trademark of Kofax Limited.

Source: Kofax