|By Business Wire||
|January 29, 2013 04:01 AM EST||
Kofax® plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions announced that three customers have invested more than $1 million in total to streamline operations, reduce costs and improve customer service using Kofax capture enabled BPM solutions.
Fred Loya Insurance, based in El Paso, Texas, is among the fastest growing automotive insurers in the U.S. Fred Loya will work with Kofax partner iBridge Group, Inc. (www.ibridgegroup.com) to implement Kofax TotalAgility, Kofax Capture™ and Kofax Transformation Modules™ as its accounts payable (AP) automation solution. The solution will automatically capture and perfect critical information from more than 120,000 paper and electronic invoices annually, and deliver relevant content to an ERP system, replacing manual input and processes.
“The AP processes at Fred Loya Insurance were principally manual, and we realized that in order to maintain our competitive advantage, we needed to streamline,” said Joe Ramirez, chief financial officer at Fred Loya Insurance. “The Kofax capture enabled BPM solution has given us a unified solution for AP automation that speeds our processes and reduces our operational costs.”
Other recent orders include:
- A major global provider of corporate credit cards will use Kofax TotalAgility, Kofax Capture, Kofax Transformation Modules and Kofax e-Transactions™ to reduce its new customer onboarding process from three to six months to only eight to 12 days.
- A leading oil exploration and production company will use Kofax TotalAgility, Kofax Capture and Kofax Transformation Modules to automate manual processes and optimize cash management with a Kofax AP automation solution.
In the November 2012 Gartner report, “Use BPM to Drive Revenue, Not Just Efficiency,” analysts Bruce Robertson and Samantha Searle observed: “The easiest path to greater revenue has been to engineer processes so well, and to make business operations so excellent, that the business is transformed into a service provider generating significant revenue. Many businesses are considering this strategy — both as providers and consumers of services.”
“As more organizations focus on achieving operational gains and improving the customer experience, they’re choosing to leverage the power of information capture within their critical business processes such as customer onboarding and accounts payable,” said Howard Dratler, executive vice president of Field Operations at Kofax. “Kofax TotalAgility has gained wide adoption across several industries for its ability to better automate, manage workflow and increase visibility into operational performance to deliver significant time and cost savings.”
Kofax TotalAgility™ provides a BPM and Dynamic Case Management solution that enables greater organizational agility through better management of processes. More efficient, flexible and better executed business processes mean lower costs plus greater and earlier ROI for the organization. TotalAgility provides capabilities for process design, automation, simulation, workflow control for managing human tasks, integration tools for linking business applications (ECM, CRM, Email) to processes and business rules.
Kofax Capture™ (KC) 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 repositories and applications. This can significantly reduce retrieval costs while improving regulatory and compliance efforts. 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™ (KTM) adds 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® plc (LSE: KFX) is a leading provider of Capture Enabled BPM™ solutions. These award winning solutions capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and cost effective manner, enabling our customers to be more responsive to their constituents and better grow their businesses. Kofax solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these solutions 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.
© 2013 Kofax, plc. “Kofax” is a registered trademark and “Capture Enabled BPM,” “Kofax TotalAgility,” “Kofax Capture,” Kofax Transformation Modules” and “Kofax e-Transactions” are trademarks of Kofax, plc.
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