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Kofax - 3/5/2013
Leading Health Care Insurance Provider Expands Medicare Claims Processing with Kofax
Software Reduces Labor Costs and Expedites Claims Payments
Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a
leading national provider of publicly funded health care insurance programs has invested more than $500,000 to expand its Kofax solution to increase
efficiencies in processing a larger volume of Medicare claims and related correspondence, thereby significantly reducing labor costs and expediting claims
payments.
The customer is using the additional Kofax software to increase the volume of Medicare claims forms and related documents to 24 million per year, and other
correspondence to 12 million documents per year. This increases medical claims processing efficiencies by significantly reducing labor costs and expediting
claims payments.
In the American Medical Association's fifth annual National Health Insurer Report Card released in June 2012, Dr. Robert M. Wah, the association's board
chairman, stated, "Paying medical claims accurately the first time is good business practice for insurance companies that saves precious health care dollars and
frees physicians from needless administrative tasks that take time away from patient care."
“Kofax is committed to providing health insurance providers with solutions that cut costs while improving quality,” said Howard Dratler, executive vice president of
Field Operations at Kofax. “Kofax automates document driven processes by capturing all health, patient or financial information at the point of entry, and
transforming it into actionable information in a secure and auditable manner. By accurately and more efficiently automating claims processes with Kofax solutions,
insurance providers can realize bottom line benefits.”
www.softwaremag.com
Kofax - 2/26/2013
Kofax Launches Mobile Capture App for Auto Claims
Policyholders Can Engage with Insurers from the Scene of an Accident to Expedite Claims, While Insurers Benefit from Reduced Costs and Improved Customer
Service
Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today launched the Kofax
Mobile CaptureTM Auto Claims App. It is the most comprehensive First Notice of Loss (FNOL) smart process application for auto accident claims that enables
policyholders to use cameras in mobile devices to capture documents and images at the scene of an accident, and instantly initiate a claim with their insurer.
The mobile app leverages Kofax’s market leading smart capture software to provide the highest level of accuracy for data and its context in an automated
manner, thereby accelerating the claims process, reducing costs and exceptions, and improving customer service. Kofax will be demonstrating the new app at
the Kofax Mobile Insurance Executive Roundtable on February 28 in Chicago.
Ellen Carney, senior analyst serving eBusiness & Channel Strategy Professionals at Forrester Research, Inc., wrote in a September 2012 report titled The Future
of Insurance is Mobile that "…Insurers have fewer customer interactions than many other industries. Mobile delivers content when it’s most needed in a context
that’s most relevant, leading to additional sales and more loyal customers. Mobility offers insurance companies the opportunity to increase efficiency, reduce
claims costs, and stem premium leakage.”
“The Kofax Mobile Capture Auto Claims App addresses the evolving needs of insurers and insureds where mobility is most pervasive,” commented Drew Hyatt,
senior vice president of Mobile Applications at Kofax. “Insurers now have a new channel into the claims management process that offers the highest quality
images, accelerates the process and reduces manual errors and costs. Additionally, at a time when a policyholder is nervous, scared and possibly frustrated,
they can rest assured that their insurer is capturing the information needed to provide them the highest level of service and resolve their claim rapidly. We are
talking with several national auto insurers who have great interest in these benefits.”
Benefits for Insurers
Kofax Mobile Capture Auto Claims App extends existing claims processes directly to the customer via their mobile device, enabling them to submit relevant
documents and photos in support of the claim while ensuring that information is not retained on the mobile device to avoid the risk of sensitive data being
accessed. It also allows the insurer to quickly respond or request additional documentation related to the claim.
Once information is submitted via the mobile app, the Kofax Mobile Platform™ automatically initiates the claim using data extracted from the documents captured
by the insured. This significantly accelerates the claims process and ensures that all the information is provided in a timely and accurate manner, while reducing
costs. The platform can also be used by insurers to create other apps such as mobile quotes.
Benefits for Policyholders
Kofax Mobile Capture Auto Claims App provides a self-service channel for customers to submit auto accident claims. It allows policyholders using cameras in
mobile devices to capture a driver’s license, license plate, proof of insurance, accident reports, citations and other pertinent documents from the scene of the
accident, or wherever convenient, to initiate a claim instantly.
Kofax Mobile Capture for Auto Claims App leverages the Kofax Mobile Capture Driver’s License solution which delivers best in class performance and accuracy
for driver’s licenses from all 50 states. Users simply take a picture of the front of the driver’s license, and the Kofax Mobile Platform extracts all the critical fields,
including data contained in the two-dimensional barcodes on 42 states’ driver’s licenses. Reading barcodes provides added security, accuracy and speed, and
sets a new standard in the mobile capture industry.
Policyholders are also offered more visibility into the status of their claim by being able to see the documents required and the stage of the claim from the app on
their mobile device. By having visibility into the status of their claim, customers make fewer inquiries to their insurer and experience greater satisfaction.
Insurers interested in seeing a live demo of the Kofax Mobile Capture Auto Claims App can attend the Kofax Mobile Insurance Executive Roundtable on
February 28 in Chicago or Kofax’s Financial Services Forum at Transform on March 11 in San Diego. For other sales inquiries, please contact Kofax online or by
phone at +1-949-727-1733.
www.softwaremag.com
Kofax - 2/21/2013
Kofax to Present at 25th Annual ROTH Conference
Kofax plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that chief
executive officer Reynolds C. Bish will present to investors at the 25th Annual ROTH Conference on March 18 at 9:00 a.m. Pacific Time at the Ritz-Carlton in
Laguna Niguel, California. The presentation will be followed by a question and answer session.
One-on-one meetings with Mr. Bish can be scheduled through ROTH Capital Partners.
www.softwaremag.com
Kofax - 2/20/2013
Kofax Automates Accounts Payable Processes for Major Global Agricultural Products Manufacturer
Kofax Selected for its Ability to Tightly Integrate with Market Leading ERP Systems
Kofax plc, a leading provider of smart process applications for the business critical First Mile™ of customer interactions, announced that a major global agricultural
products manufacturer invested approximately $1 million in Kofax software and services to automate its accounts payable processes.
The customer will use Kofax software to automate the processing of more than 300,000 invoices annually. A key requirement for the customer was the ability to
integrate with both SAP and IBM Maximo ERP systems. Kofax was selected for a host of stand-out capabilities including: pre-built, real-time integration with SAP;
out-of-the-box best practice workflows; industry leading document and data capture; advanced cash management analytics; and flexibility to accommodate
multiple ERP integrations.
The Hackett Group, a global strategic business advisory and operations improvement consulting firm, stated in its white paper, The Case for Invoice Capture:
Transform Accounts Payable with These 5 Simple Truths, “The recent development of enhanced invoice recognition and data capture solutions, such as
invoice capture, is a breakthrough in purchase to pay automation. Supplying a 56 percent cost advantage over paper-based invoice processing, invoice
capture enables organizations to raise productivity, improve invoice match rates, take more early-pay discounts and achieve greater spend visibility.”
“Hundreds of global companies have entrusted their invoice and AP automation needs to Kofax,” said Howard Dratler, executive vice president of Field
Operations at Kofax. “Our solutions help customers streamline operations, increase productivity, and achieve best-in-class AP performance.”
Kofax MarkView for AP 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 ERP integration, a self-service supplier portal and an AP process optimization
dashboard. The first and only application of its kind, MarkView 8.0 now extends the solution with mobile capabilities for iPhone and Android devices. Integration
with Kofax Mobile Capture™ (KMC) enables users inside and outside the enterprise gain secure access to information and capabilities required for processing
invoices with full AP process security standards and speeds processing of invoices and receipts.
Kofax MarkView Advisor is the industry's first real time financial process performance application that enables organizations to achieve world class efficiency and
effectiveness in their AP processing activity. Designed specifically for finance executives, Kofax MarkView Advisor enables finance managers to strategically
manage and optimize finance processes by providing an integrated perspective on AP operations — from comprehensive overviews to detailed activities
summaries — that synthesize both process and transactional data. And, it combines real time process performance intelligence with the ability to immediately
intervene, when necessary, to resolve process issues impacting departmental performance.
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, and 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 e-Transactions is an add-on application for Kofax Transformation Modules that automates the electronic delivery of documents to a business process via
secure email, removing the need for printing, mailing, scanning and data entry. Kofax e-Transactions allows enterprises to eliminate paper as quickly as possible,
potentially at its source, and provides the most cost effective and easy-to-manage mechanism for on-ramping business-related content into a business process
as it is generated.
www.softwaremag.com
Kofax - 2/5/2013
Kofax Receives United States Patent for Determining Data Validity
Technology Reverse Matches Data Extracted from Documents with Systems of Record; Ensures Accuracy and Validity
Kofax plc, a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today reported it has been issued patent
number 8,345,981 by the US Patent and Trademark Office. The patent covers technology that determines the validity of data extracted from documents by
reverse matching the extracted data with information contained in an organization’s systems of record, such as an ERP system, and corrects erroneous or
suspicious extracted data, thus ensuring its accuracy. This is accomplished in a fully automated manner, which reduces manual, labor intensive work and
speeds processing. The technology was invented to address the error-prone and process delaying challenges facing organizations with large volumes of
business transaction documents, including purchase orders, invoices and receiving information.
“Transactional documents are mainly designed for human readability. They are received in both paper and electronic formats and the layout and language within
the documents differ vastly between parties, which makes the reverse matching capability extremely beneficial for ensuring accuracy and processing speed,”
stated Anthony Macciola, chief technology officer at Kofax. “The technology embodied in this patent exemplifies Kofax’s commitment to continually innovate and
develop smart solutions that drive business value to customers.”
The technology encompassed within this patent is currently being used within Kofax Transformation ModulesTM for its ability to locate and match line items
within invoices used in accounts payable automation solutions. Potential future applications of the patented technology could include, for example, explanation
of benefits (EOBs) forms.
Kofax has 18 issued US patents and 13 issued foreign patents relating to digital image quality, data capture capabilities, and business process technologies. It
also has 37 patent applications pending worldwide.
www.softwaremag.com
Kofax - 1/29/2013
Customers Grow Their Businesses With Kofax Capture Enabled BPM Solutions
Software Streamlines Operations, Reduces Costs and Improves Customer Service
Kofax® plc, 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
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.
www.softwaremag.com
Kofax - 1/22/2013
Kofax Revolutionizes the Digital Mailroom with Increased Capabilities and Process Analytics
New Kofax Mailroom Automation Solution Improves Customer Engagements
Kofax® plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today launched Kofax Mailroom Automation. It is the first
digital mailroom solution to provide complete visibility into incoming documents and information via process analytics and visualization dashboards that enable
organizations to track, review and modify information at any point in the business process. Critical customer-facing and other applications can now be closely
monitored for better control, resulting in accelerated processing, increased responsiveness and a better customer experience.
“As a leading provider of solutions in the outsourcing of strategic business processes and comprehensive document processing services, Swiss Post Solutions
(SPS) supports companies transitioning to digitalization. The new Kofax Mailroom Automation solution is a great fit for SPS, given that our customers have a
need for complete visibility and control,” commented Alex Valkenberg, chief executive officer, Production Services at Swiss Post Solutions. “Offering this solution
to our customers will help them further accelerate business processes and improve their bottom line.”
Holly Muscolino, research director, Hardcopy Peripherals at IDC, stated in the IDC Workbook: Assessing Stakeholder Engagement for Effectiveness and
Efficiency, “An organization must put into place a system of engagement that directs interactions between the stakeholder and the company, and the system
must be directly integrated with critical business process. The system must enable the organization to accurately extract critical data from documents with
minimal or no stakeholder intervention. It must be able to consistently perfect documents and data before they are entered into the appropriate systems of record
for high-value (and high-cost) decision-making processes.”
Automated digital mailrooms are used in a wide variety of industries, such as banking, insurance, government, and business process outsourcing (BPO). BPOs,
third-party firms whose services include the secure management of critical business functions such as invoice processing and image based document storage,
use these to ingest and process incoming mail for their customers. Documents in paper or electronic formats are first captured, digitally classified and separated,
and then data is extracted according to business rules established by the customer. The extracted information is then validated to ensure its accuracy and
validity before being distributed to customer workflows and processes.
For example, an insured driver can initiate a claim process by submitting the related documents to their automobile insurance provider. These may actually be
received by a BPO providing outsourced mailroom processing for the insurer. The documentation is then captured and processed. If any of the documents or
information therein is missing, Kofax Mailroom Automation automatically alerts the insured to submit the required information, which can be accomplished on
paper or via fax, email, Kofax Web Capture or Kofax Mobile Capture. A line-of-business employee, such as a claims adjustor, is also alerted to the missing
content to assist in resolving any discrepancies. These capabilities provide visibility into the status of the claims process from the moment a claim form is
submitted at the Point of Origination™ until it is passed to a claim adjudication and payment system for final resolution. The customer and claims adjustor have
increased control over the process, an increased ability to collaborate in resolving exceptions, and a clearer idea of when the claim will be resolved for better
customer service.
“Automated mailrooms can deliver an ROI in less than 18 months by eliminating a significant portion of the manual labor costs associated with normal mailroom
processes,” said Martyn Christian, chief marketing officer at Kofax. “Kofax Mailroom Automation transforms the traditional digital mailroom by combining BPM,
dynamic case management, process analytics and visualization dashboards with our proven, industry-leading capture solutions to provide organizations with the
most scalable, flexible, accurate and secure mailroom capabilities.”
www.softwaremag.com
Kofax - 1/17/2013
Business Process Outsourcer Drives Growth with Kofax Mortgage Processing Solution
Software to Process up to 20 Million Pages Daily, 1 Billion Images Annually
Kofax® plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a leading business
process outsourcer providing services to the real estate, mortgage and financial industries has invested more than $1 million in a Kofax solution that will help
drive business growth and accommodate a significantly increased volume in mortgage applications.
The customer, one of the largest servicers of subprime mortgages in the U.S., will use Kofax Capture™, Kofax Transformation Modules™ and Kofax Monitor™ to
capture and perfect information from up to 20 million pages daily. Once captured, relevant information will be automatically classified and extracted, and then
delivered to the appropriate process, eliminating the errors and delays associated with manual document separation and input. Processing delays can be
especially costly in the subprime mortgage industry where applications must be processed within a 60 day period to meet compliance standards and avoid fines.
By optimizing operational processes, the customer can service more clients and potentially double its volumes in one year.
“Financial services and related organizations that invest in improving the speed of their document capture and processing capture information 53 percent faster
and spend 83 percent less per document,” said Nathaniel Rowe, research analyst at Aberdeen Group. “Multiply that over tens of millions of pages daily
and you’ll see the kind of operational savings that can drive major growth initiatives.”
“By removing manual document preparation, Kofax mortgage processing solutions accelerate critical processes and reduce the time it takes to approve
mortgage applications,” said Howard Dratler, executive vice president of Field Operations at Kofax. “Mortgage service providers can become more responsive to
the banks they serve and close more business, faster.”
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 Monitor™ provides real time monitoring and performance capabilities to ensure the operational health of the entire Kofax software suite. It monitors the
system’s components, including scanners supporting Kofax VRS, and its business service viability, providing real time access to operational information so
immediate corrective action is taken.
www.softwaremag.com
Kofax - 1/8/2013
Kofax Takes Industry's Most Secure, Comprehensive AP Automation Solution Mobile
MarkView 8.0 Accelerates Invoice and Receipt Processing with Mobile Devices
Kofax plc, a leading provider of Capture Enabled BPM™ business process management) solutions, today announced the launch of Kofax MarkView for Accounts
Payable 8.0, the first fully secure mobile solution for the automated capture and processing of accounts payable (AP) information. Kofax MarkView 8.0
significantly accelerates processes and optimizes cash management by enabling customers to use the cameras in mobile devices such as smart phones and
tablets to capture, view, manage and approve information from receipts and invoices from anywhere, at any time, within a secure chain-of-custody that includes
AP processes and workflows.
Kofax MarkView® for Accounts Payable is a comprehensive, capture enabled financial process automation application for AP and other functions. It automates
the receipt and capture of paper and electronic invoices, extracts relevant data from that content, perfects it and then manages the information into workflows
for routing transactions through exception handling and approval processes. Kofax MarkView leverages Kofax Mobile Capture, which allows mobile devices to
become viable tools for information capture and automation solutions. It helps prevent fraud by providing complete chain-of-custody assurances so that only
authorized users can access and submit content to relevant systems and processes. Once captured, an image cannot be altered or tampered with and does not
remain on the mobile device.
“Mobility … applications will change business processes radically over the next five years,” stated Craig Le Clair and Alan Weintraub in the Forrester Research, Inc
report, The Forrester Wave™: Multichannel Capture, Q3 2012. “The mobile device will initiate a high percentage of transactions and will be used to complete the
transaction in real time. Straight-through transactions enhance user experience and improve process efficiency.”
“Kofax MarkView for Accounts Payable addresses the most critical accounting functions facing organizations today – confirming, approving and paying invoices,”
said Martyn Christian, chief marketing officer at Kofax. “Secure mobile functionality puts AP review and approval capabilities directly in the hands of the user,
wherever located, which significantly speeds processes and provides better cash management. The benefits of a more timely and interactive mobile AP solution
are apparent and invaluable.”
www.softwaremag.com
Kofax - 1/3/2013
Kofax to Present at 15th Annual Needham Growth Conference
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that chief executive officer Reynolds C.
Bish will present to investors at the 15th Annual Needham Growth Conference on January 17 at 12:45 P.M. ET at the New York Palace Hotel in New York City.
The presentation will be followed by a Q-and-A session. One-on-one meetings with Mr. Bish can be scheduled through Needham & Company. To access a live
webcast and a webcast replay with accompanying slides of the presentation, visit kofax.com/investors/presentations.php.
www.softwaremag.com
Kofax - 12/18/2012
Global Bank Reduces Compliance Burden with Kofax Solution Software to Process Up to 1 Million Pages Annually
Kofax® plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that one of the world’s largest global
banks has invested more than $275,000 in a Kofax solution to streamline document capture and ease regulatory compliance in its U.S. branch.
The customer will use Kofax CaptureTM, Kofax Transformation ModulesTM and Kofax MonitorTM to automatically capture, perfect and classify incoming
information from more than one million pages of documents annually. The information will then be validated to ensure compliance standards before being
delivered into the customer’s SharePoint repository for easy access by employees. Tracing and auditing information as it moves through an organization protects
banks against the costly regulatory fines associated with missing, incomplete, expired or inaccurate information. Automation accelerates the capture and
processing of this information, enabling banks to increase efficiency, reduce costs and streamline document management processes.
“Organizations in document-centric industries like banking, healthcare and insurance have been using information capture to manage their increasing
workloads,” said Nathaniel Rowe, research analyst at the Aberdeen Group. “Banks deployed the most aggressive plans for document management, and as a
result showed the largest performance gains year-over-year, with more than 15 percent increases in time-to-information, data visibility and data discoverability.
Banks also reported costs to capture documents that were 50 percent lower than other organizations.”
“Meeting ever tightening compliance standards is an ongoing challenge for financial institutions,” said Howard Dratler, executive vice president of field
operations at Kofax. “By automating information capture with a Kofax solution, banks ease the compliance burden by establishing a clear chain of custody from
the Point of OriginationTM, where it first touches the enterprise, through to final archiving.”
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 Monitor™ provides real-time monitoring and performance capabilities to ensure the operational health of the entire Kofax software suite. It monitors the
system’s components, including scanners supporting Kofax VRS, and its business service viability, providing real-time access to operational information so
immediate corrective action is taken.
www.softwaremag.com
Kofax - 12/4/2012
Transform 2013 to Highlight Rapidly Emerging Trends Driving the Evolution of Capture and BPM Solutions
Kofax’s Global End User and Partner Event Registration and Awards Nominations Now Open
Kofax® plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced registration is open for Transform 2013, its
premier global event for existing and prospective end users and partners. The annual conference will be held at the Hilton San Diego Bayfront Hotel from March
11-13. The agenda and other information, including early registration fee offerings, can be found at kofax.com/transform.
Transform, which attracts more than 700 line of business and IT executives from information-intensive industries such as financial services, insurance,
government and healthcare, offers more than 50 keynote presentations; educational sessions based on best practice case studies and solutions; industry-
specific discussion forums and networking opportunities designed to help attendees increase efficiency, reduce costs and improve customer service. In
response to the rapidly emerging trends driving the evolution of capture and BPM solutions, Transform will offer multiple sessions on how to leverage the
explosion of mobile devices with Kofax Mobile Capture™ at the Point of Origination™ to gain competitive advantage and thereby better manage and grow
operations.
“Transform consistently delivers practical, insightful, thought-leading content delivered by foremost experts in information capture and process automation,” said
John Mancini, president of the Association for Information and Image Management (AIIM). “Attendees will learn real world best practices for using capture
enabled BPM to deliver transformative change to their enterprises.”
Nominations for the Transform 2013 Awards are also now open and may be submitted online at www.kofax.com/transform/awards.asp through January 18,
2013. The awards recognize 12 standout end users and partners who advance the use of capture enabled BPM through new and innovative implementations.
Past winners include: the Boeing Company, Spectrum Health Systems, RICOH and Hershey Technologies. Transform 2013 Award winners will be chosen by an
esteemed panel of industry experts including John Mancini; Ralph Gammon, publisher and editor of Document Imaging Report; and David Lewis, vice president
of Product Marketing at Kofax. Finalists will be announced in February and winners will be announced live at the Transform Awards Dinner on March 13, 2013.
www.softwaremag.com
Kofax - 10/30/2012
Kofax Optimizes Mortgage Processing for U.S. Lender
Software to Process 20 Million Loan Related Documents Annually
Kofax® plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a regional U.S. bank has invested
more than $500,000 in a Kofax mortgage loan processing solution.
The customer will streamline and automate its mortgage loan processes by using the Kofax solution to capture and perfect images from more than 20 million
mortgage-related documents it receives annually in both paper and electronic form. The Kofax solution will then extract critical information and trigger appropriate
business processes to reduce latency, which is both costly and common in the mortgage industry. In addition, the lender can improve its regulatory compliance
by providing clear audit trails from the Point of Origination™ to final archiving.
“Mortgage lenders must balance the benefits of accelerating loan approvals with managing risk,” said Howard Dratler, executive vice president of field
operations at Kofax. “Kofax solutions help to dramatically reduce the time and cost to close while enhancing the customer experience.”
www.softwaremag.com
Kofax - 10/22/2012
Kofax Launches Industry’s First Mobile Capture App for Mortgage Lenders
Dramatically Accelerates Loan Processing, Improves Customer Experience
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today launched the Kofax Mobile CaptureTM for Mortgage
app at the Mortgage Bankers Association’s 99th Annual Convention and Expo. The app leverages Kofax’s market-leading capture software to enable lenders,
brokers and borrowers to use cameras in smartphones and tablet computers to capture, perfect and extract relevant information from supporting documents and
deliver it directly into the appropriate loan processes. By capturing critical business information at the Point of Origination™, lenders can initiate application
processes, obtain trailing documents and resolve exceptions faster and with more accuracy, resulting in higher levels of customer satisfaction and increased
closing volume.
“Mobile capture is where the mortgage industry is headed, and it will transform the way lenders engage with customers,” said Mark Swift, vice president of Opus
product management at Mortgage Cadence. “We’ve seen ready adoption of electronic document management and mobile banking, making the integration of
mobile capture into mortgage loan processing the natural next step. The pervasiveness and agility of mobile devices can improve the way lenders engage with
customers.”
“Mobile lending holds the potential to produce results radically different from those of earlier initiatives in the broader context of mobile financial services and may
ultimately provide a significant sustainable revenue stream for the bank’s mobile financial services strategy,” stated Kristin Moyer, research director, Gartner, Inc.
“As refinancings continue and the housing industry rebounds, lenders face increased loan volumes,” said Reynolds C. Bish, chief executive officer at Kofax.
“Kofax Mobile Capture for Mortgage gives lenders the power to streamline costs, provide a better user experience, increase time to revenue and strengthen their
competitive advantage. We expect many U.S. lenders to incorporate mobile capture capabilities into their mortgage loan processes within the next 12 to 18
months.”
Kofax Mobile Capture for Mortgage makes it possible for a lender to bring the loan application process directly to the borrower at the Point of Origination by
enabling cameras in mobile devices to capture and perfect images of documents, photographs and data. A borrower can use Kofax Mobile Capture for
Mortgage to capture an image of their driver’s license, W2, paycheck stub and other supporting documents, and easily submit them to the lender. Critical
information is then extracted from the images, and delivered to relevant processes, allowing the lender to rapidly service, approve and close a loan. By using
mobile capture to accelerate processes, minimize latency, speed transactions and reduce processing costs, lenders can improve customer service and close
more business.
Kofax Mobile Capture for Mortgage is part of the comprehensive Kofax Mobile Platform, which enables cameras in mobile devices to become viable tools to
support information capture solutions. The Kofax Mobile Platform automatically captures, perfects and classifies incoming content. Key data elements are then
extracted and their accuracy validated before being delivered into processes and workflows that orchestrate the business rules controlling customer
engagements. Using the same patented technology as Kofax’s industry leading information capture software, the Kofax Mobile Platform helps enterprises reduce
processing costs and latency through intelligent automation, accelerate revenue by improving the agility and responsiveness of business processes to close
more business faster and ultimately improve customer service and satisfaction.
www.softwaremag.com
Kofax - 10/9/2012
Telecom Italia Selects Kofax to Improve Customer Service
Software to Optimize Customer Relationship Management Platform
Kofax® plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that Telecom Italia, a leading
global telecommunications provider, has invested more than $600,000 in a Kofax solution that will help optimize its customer relationship management (CRM)
platform.
Telecom Italia will use Kofax CaptureTM, Kofax Transformation ModulesTM and Kofax Communication Server to automatically capture and perfect business
critical content from inbound and outbound customer communications in both paper and electronic formats, extract relevant information and automatically decide
which business processes to send it to. With the Kofax solution, the company can engage its customers more effectively, gain competitive advantage and grow
its business while reducing costs and improving regulatory compliance.
“Telecommunications providers operate in a hyper-competitive environment where customer loyalty can change overnight,” said Howard Dratler, executive vice
president of field operations at Kofax. “Leading providers like Telecom Italia implement Kofax to ensure their employees have access to up-to-the-minute,
accurate information in order to optimize customer engagement.”
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 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 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.
The Kofax Communication Server enables the automated exchange of business critical information, linking both inbound and outbound services provided by
devices such as fax and phone systems, media types that include email, FoIP, SMS, MMS, voicemail and telex, applications such as ERP, CRM and Kofax
enterprise applications, and social collaboration tools.
www.softwaremag.com
Kofax - 10/2/2012
Kofax Streamlines Global Operations for the Netherlands’ Ministry of Foreign Affairs
AP Automation and Invoice Processing Solution Increases Productivity
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that the Ministry of Foreign Affairs for the
Netherlands has invested more than $700,000 in a Kofax solution that will automate and streamline critical functions in accounts payable (AP) and invoice
processing.
The ministry will use Kofax Capture™ and Kofax Transformation Modules™ to automate the capture, extraction and processing of information from more than 200
embassies around the world. Specifically, labor-intensive AP and invoice processing functions will be streamlined to increase productivity and reduce costs by
capturing and perfecting document images, automatically extracting relevant information and deciding which business processes to send it to. This will enable
staff to better understand and act on the information, and also free up resources to focus on higher value activities such as providing service to their
constituencies.
“Government agencies across the world are challenged by conflicting demands,” said Howard Dratler, executive vice president of field operations at Kofax.
“They are striving to provide constituents with more transparency and more responsive service, and do so with fewer resources. Automating critical processes
allows government agencies to be more efficient, reduce costs and ease the workload for their stretched staff.”
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.
www.softwaremag.com
Kofax - 9/24/2012
Kofax Recognized for Global Leadership and Corporate Responsibility
CEO Reynolds C. Bish Acclaimed for Business Leadership and Kofax Included in FTSE4Good Index
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that chief executive officer Reynolds C.
Bish was honored at the 2012 British American Business Awards (BABAs) on September 20 for his leadership in the Southern California business community. In
addition, the company announced it has been included in the FTSE4Good Index Series, a family of share indexes that identify companies that meet globally
recognized corporate responsibility standards.
The BABAs, hosted by the British American Business Council (BABC), recognize business leaders culled from Southern California’s vital and diverse industry
sectors. Honorees participated in a panel discussion moderated by Rick Reiff, executive editor of the Orange County Business Journal and host and producer of
the PBS program, “SoCal Insider,” during which they discussed the challenges and opportunities facing organizations that operate in today’s demanding global
economy.
“It’s a privilege to be included in the premier group of business leaders honored by the BABC,” said Mr. Bish. “It’s particularly gratifying in light of our listing on the
London Stock Exchange, large U.K. shareholder base and other strong ties to the U.K.”
“Our congratulations to Reynolds on this recognition,” said Dr. John R. Gibson, chairman of the BABC’s commerce committee. “Kofax is a prime example of a
Southern California company that personifies the spirit of innovation and leadership and has used it to create global impact.”
Kofax’s global presence has also been recognized by the investment community with its addition to the FTSE4Good index. Companies included in the index
have demonstrated they meet criteria in five categories: environmental management, human rights, supply chain labor standards, countering bribery and climate
change.
www.softwaremag.com
Kofax - 9/12/2012
Global Bank Leverages Kofax Solution to Improve Customer Satisfaction in Europe
Software to Accelerate the Processing of 20 Million Documents Annually
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a major global bank has invested an
additional $800,000 to implement a Kofax digital mailroom solution for its European operations.
The bank will implement Kofax CaptureTM, Kofax Transformation ModulesTM, Kofax VirtualReScan® Elite, Kofax Front Office ServerTM and Kofax MonitorTM
to capture 20 million paper and electronic documents in a centralized digital mailroom. Relevant information from those documents will then be automatically
classified, extracted and distributed into workflows that initiate critical business processes throughout European operations. With this solution, the customer can
reduce operational costs, increase processing speed, and be much more responsive to its customers.
“In today’s world, consumers desire instant gratification, and it’s very easy for consumers and businesses to change banks if they aren’t receiving the level of
service they expect,” said Howard Dratler, vice president of field operations for Kofax. “A Kofax digital mailroom helps financial institutions capture incoming
information more efficiently and accelerate the processing of new accounts, loans and other customer driven financial transactions, thus accelerating responses
to customers and improving service levels.”
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 VirtualReScan® (VRS) Elite is Kofax’s patented image enhancement and perfection software. Kofax VRS Elite reduces the time involved in manual
document preparation and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document
capture processes. High quality images are critical as they can significantly impact the success of downstream data extraction and retrieval needs.
Kofax Front Office Server (KFS) extends existing Kofax Capture business processes to customer facing employees seeking to initiate transactions, workflows
and capture processes at the earliest point of contact to leverage existing resources in remote or branch offices. This office automation solution reduces process
latency and eliminates the time and cost of shipping documents to centralized processing centers.
Kofax Monitor provides real time monitoring and performance capabilities to ensure the operational health of Kofax Capture, and advanced recognition and
communication systems. It monitors the system’s components, including scanners supporting Kofax VRS, and its business service viability, providing real time
access to operational information so immediate corrective action is taken.
www.softwaremag.com
Kofax - 9/5/2012
Mobile Capture Considered a “Game Changer” for Customer Focused Initiatives
AIIM Survey Asserts Mobile Capture’s Ability to Improve the Customer Experience and Accelerate Business Growth
Kofax® plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced the publication of research
demonstrating the potential for mobile capture to transform how organizations interact with their customers. Mobile capture is the ability to use cameras in mobile
devices to capture and perfect images of documents, automatically extract relevant information from those images and pass it into enterprise applications and
repositories.
The survey, conducted by the Association for Information and Image Management (AIIM), probed member enterprises about the adoption, benefits and
challenges related to mobile capture. Key findings revealed that 14 percent of respondents felt mobile capture is “a game changer,” with 32 percent considering
it “very valuable.”
In the report, “Top 10 Mobile Technologies for 2012 and 2013,” from independent research firm Gartner, Inc., vice president and distinguished analyst Nick
Jones stated: “Mobile and wireless technologies and applications offer a rare opportunity for disruptive innovation and differentiation. Organizations should
identify the key technologies that are likely to have a broad impact, and identify ways to exploit their potential in employee- and customer-facing applications.”
A wide range of industries including government, healthcare, manufacturing, banking, insurance and transportation can benefit from mobile capture applications
such as new account opening, claims processing, mortgage processing, accounts payable and others. Mobile capture enables the delivery of real-time services
while leveraging and optimizing investments in existing infrastructure and systems.
The AIIM respondents identified the biggest benefits of mobile capture to be minimized delays when initiating a process and reduced approval processing times.
In addition, nearly half of those surveyed indicated the ability to connect remote staff directly with back-office processes would improve productivity by 33
percent.
“Many critical business processes begin in a consumer’s home or in a field location,” said Martyn Christian, chief marketing officer at Kofax. “Kofax Mobile
Capture enables enterprises to capture information at those key points of origination to dramatically accelerate the transaction cycle. As a result, companies that
embrace mobile capture have the potential to significantly enhance the customer experience and achieve a distinct competitive advantage.”
Mobile capture represents a burgeoning market opportunity. The AIIM survey revealed that only 11 percent of organizations are using a mobile capture system
today. In addition, 28 percent expressed a desire to create tablet apps that capture information directly to back-office processes, but only one percent is
currently doing so.
www.softwaremag.com
Kofax - 8/14/2012
Leading Transportation Services Provider Expands Kofax Invoice and Accounts Payable Automation Solution
Software to Process 15 Million Documents Annually
Kofax plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a leading global provider of
transportation and logistics services has invested more than $850,000 to expand its existing Kofax solution to include invoice and accounts payable (AP)
automation.
The customer, whose services include international freight forwarding, highway brokerage, warehousing and distribution, and supply chain management
services, will expand its Kofax CaptureTM solution to include: Kofax Transformation Modules™, Kofax e-Transactions™, Kofax SupplierExpress™, Kofax MarkView
for Accounts Payable® and MarkView AP Advisor®. The Kofax platform will enable the customer to automate the processing of approximately 15 million
invoices, bills of lading, proof of delivery forms and other transportation related documents annually. By capturing information digitally and perfecting it, then
automatically extracting relevant information for business processes, the customer can reduce its operating costs and gain competitive advantage in an industry
where speed is paramount. The Kofax solution will be integrated with the customer’s existing IBM Lombardi, IBM Content Manager and SAP applications for
easy information access by employees regardless of their location.
“Transportation and logistics companies are in a race against time every day,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “By
automating accounts payable and invoice processing on a single platform, Kofax customers can significantly increase their processing speed, enabling better
business decisions faster with improved quality and compliance.”
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 e-Transactions (KeT) eliminates the need for the printing, mailing, scanning and entry of information from documents and forms by enabling the electronic
delivery and capture of documents from a sender to a receiver via secure email. Designed for enterprises wanting to migrate from paper to electronic based
processes, it can reduce labor costs, improve information quality and accelerate business processes without the cost and complexity of an electronic data
interchange (EDI).
Kofax MarkView for Accounts Payable 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 workflows for routing transactions
through exception handling and approval processes, significantly reducing cycle times and costs while optimizing process control and cash flow management.
Kofax SupplierExpress is an AP portal that automates routine supplier interactions including invoice submission and inquiries. Through supplier self-service, this
low cost, easy to adopt, pay-as-you-go solution reduces cost and errors and enhances AP automation payback. Kofax SupplierExpress is an option to Kofax
MarkView.
MarkView AP Advisor is an optional product to Kofax MarkView. It provides AP and Finance managers with real-time business process intelligence, plus the
ability to immediately intervene to optimize cash management and resolve process issues impacting AP performance and SLAs.
www.softwaremag.com
Kofax - 7/24/2012
Kofax Announces a Trading Update for its Fiscal Year Ended June 30, 2012
Results in Line with Expectations & Driven by Strong Q4 Software License Revenue Growth
Kofax plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announces an unaudited trading update for
its fiscal year ended June 30, 2012.
The Company ended the fiscal year with record total revenues in the range of $261 to $263 million and expects to report an EBITA of at least the $40.2 million
realized during the previous fiscal year, both of which are in line with Company expectations previously communicated to the financial community.
There have been no adverse changes in Kofax’s financial position since March 31, 2012, its cash generation has been in line with Company expectations and
its balance sheet remains strong, with no debt and $81 million of cash on hand at June 30, 2012.
Commenting on today’s announcement, Reynolds C. Bish, Chief Executive Officer, said: “Our fourth quarter produced strong results and allowed us to realize
record software license revenues and record total revenues on both a quarterly and fiscal year basis. Year over year, fourth quarter software license revenues
grew in the very high teens and total revenues grew in the mid teens. Software license revenues, service revenues and revenues in all geographic regions, our
core capture business and acquired businesses were equal to or greater than our expectations. Total revenues for the fiscal year grew in the high single digits
on an as reported basis and in the low single digits on an organic constant currency basis. We remain confident in our business and expect to provide an
outlook for the Company’s fiscal year ending June 30, 2013 on Monday, September 3, 2012.”
Mr. Bish and Jamie Arnold, Chief Financial Officer, will discuss this trading update and conduct a question and answer session via teleconference at 8:00 am UK
time / midnight Pacific time today. A telephonic replay will be available by 1:00 pm UK time / 5:00 am Pacific time today. These can be accessed using the
telephone numbers below:
Teleconference Replay Access Code
UK +44 (0) 1452 555 566 +44 (0) 1452 550 000 94765509 #
US 1-866-966-9439 1-866-247-4222 94765509 #
A transcript and MP3 recording of the call will be available in the investor relations section of the Company website on July 25.
The Company will announce its preliminary unaudited results for the fiscal year ended June 30, 2012 on Monday, September 3, 2012 before the opening of the
London Stock Exchange and conduct a presentation for financial analysts thereafter at 9:00 am UK time / 1:00 am Pacific time in the London offices of FTI
Consulting. That presentation will be web cast and available for viewing in the investor relations section of the Company website later that day. Access details
for the webcast will be provided in advance of the same.
www.softwaremag.com
Kofax - 7/12/2012
Top 10 Global Banking Group Extends Its Use of Kofax Software
Over 140 Million Additional Pages Will be Processed Annually
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a top 10 global banking group
headquartered in Western Europe has extended its use of Kofax software. The value of the contract to Kofax exceeds $2 million.
The customer, one of the largest financial institutions in the world, will implement additional Kofax Capture™, Kofax Transformation Modules™ and Kofax Monitor™
licenses to enable the automatic capture, extraction and validation of information from more than 140 million additional incoming pages annually. The Kofax
solution will enable the customer to route the information to other enterprise software applications and repositories while decreasing processing times and
reducing operating costs across the enterprise.
“Large financial services organizations need true enterprise capture capabilities, and Kofax has a proven history of providing customers with the flexibility to
process any document, the scalability to process any volume of documents and the ability to route digital information to any enterprise application,” said Alan
Kerr, Executive Vice President of Field Operations at Kofax.
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 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 Monitor™ provides real time monitoring and performance capabilities to ensure the operational health of Kofax Capture, and advanced recognition and
communication systems. It monitors the system’s components, including scanners supporting Kofax VRS Elite™, and its business service viability, providing real
time access to operational information so immediate corrective action is taken.
www.softwaremag.com
Kofax - 7/10/2012
Kofax Launches Cloud Based SaaS Business Process Management Software Offering
Kofax TotalAgility Hosted on Windows Azure Can be Provisioned Within Minutes
Microsoft Worldwide Partner Conference 2012
Kofax plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announces the launch of Kofax TotalAgility™
6.0, its leading BPM and dynamic case management software. Kofax TotalAgility 6.0 is available both as a cloud based Software-as-a-Service (SaaS)
subscription offering hosted on Windows Azure and under a perpetual license model for on premise deployments.
Kofax TotalAgility is BPM and dynamic case management software that drives significant benefits by streamlining the processing of critical information in a more
efficient, productive and consistent manner, allowing users to be more responsive to their constituents, provide better service levels, gain competitive advantage
and grow their organizations while also reducing costs and improving regulatory compliance. Kofax TotalAgility as a cloud based SaaS subscription offering
allows users to avoid significant capital expenditures and other on premise deployment costs while offering immediate access to the software. This should allow
large corporations and government agencies with capital expenditure constraints and small and medium sized businesses lacking the technical resources to
support an on premise deployment to nonetheless realize these benefits.
“As enterprises adopt BPM and seek to expand processes directly to include their customers and partners, a strategy for deployment off premises via
SaaS/Cloud ensures that organizations can respond to increased demand quickly and cost effectively,” said Janelle Hill, VP and Distinguished Analyst for BPM
at Gartner, Inc.
TotalAgility 6.0 has been also been enhanced to accelerate deployments through an intuitive process design and execution experience. TotalAgility Workspace
and TotalAgility Builder are now completely browser based, making it much easier for users to design, deploy and operate these solutions. Multiple form factors
are also now supported, delivering better user experiences to mobile device users.
“Kofax continues to demonstrate its commitment to the Microsoft community with TotalAgility 6, the first BPM and case management platform hosted on Windows
Azure,” said Kim Akers, general manager for ISV partners at Microsoft Corp. “Working together with Microsoft, Kofax can focus on expanding its capture-enabled
BPM solution to a broader range of customers.”
“By offering Kofax TotalAgility as a cloud based SaaS solution, we’ve effectively freed customers from capital expenditure and IT resource constraints and
provided complete BPM and dynamic case management deployment flexibility so they can better grow their businesses,” said Martyn Christian, Chief Marketing
Officer at Kofax.
To see a live demonstration of TotalAgility, visit Kofax at Microsoft World Partner Conference in Toronto on July 10-12 in booth #428.
To learn more about capture enabled BPM, attend these presentations at that same event:
“Capture Enabled BPM: Business-Critical SharePoint: Step One”
Wednesday, July 11, 1:30 PM ET
“Kofax TotalAgility 6.0: Managing Business Processes on the Azure Windows Platform”
Thursday, July 12, 2:15 PM ET
Both will be at booth M3 of the Microsoft Future of Productivity Theater.
www.softwaremag.com
Kofax - 7/3/2012
U.S. Government Agency Selects Kofax for Large Scale, Nationwide Capture Project
Software to Process over One Billion Documents Annually
Kofax plc, a leading provider of Capture Enabled BPMTM (business process management) solutions, today announced that an agency of the U.S. government
has selected Kofax for a large scale, nationwide capture project. The value of the contract to Kofax is in the mid seven figure dollar amount.
The customer will implement Kofax CaptureTM, Kofax Transformation ModulesTM, Kofax Front Office ServerTM, Kofax MonitorTM, Kofax Communication
ServerTM and Kofax TotalAgilityTM to automate the capture and processing of more than one billion documents annually. The Kofax solution will enable the
customer to process and then archive the resulting images and data for easy access by employees and other constituents.
“Such a significant transaction shows that major organizations recognize the value provided by Capture Enabled BPM solutions,” said Alan Kerr, Executive Vice
President of Field Operations at Kofax. “Our solutions leverage the secure, automated processing of documents to reduce costs and paper, enabling our
customers to become more efficient and improve service to their constituents while delivering measurable ROI to the organization.”
Kofax CaptureTM 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 ModulesTM (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 Front Office ServerTM extends existing Kofax Capture business processes to customer facing employees seeking to initiate transactions, workflows and
capture processes at the earliest point of contact to leverage existing resources in remote or branch offices. This office automation solution reduces process
latency and eliminates the time and cost of shipping documents to centralized processing centers.
The Kofax Communication ServerTM (KCS) enables the automated exchange of business critical information, linking both inbound and outbound services
provided by devices such as fax and phone systems, media types that include email, FoIP, SMS, MMS, voicemail and telex, applications such as ERP, CRM
and Kofax enterprise applications, and social collaboration tools.
Kofax MonitorTM provides real time monitoring and performance capabilities to ensure the operational health of Kofax Capture, and advanced recognition and
communication systems. It monitors the system’s components, including scanners supporting Kofax VRS, and its business service viability, providing real time
access to operational information so immediate corrective action is taken.
Kofax TotalAgility™ provides a BPM and Dynamic Case Management platform that enables greater organizational agility and significant organizational gains
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.
www.softwaremag.com
Kofax - 6/26/2012
Automotive Parts Manufacturer Selects Kofax for Invoice and AP Automation
Software to Process 300,000 Invoices Annually
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a global automotive parts manufacturer
has selected Kofax for its invoice and AP automation solution. The value of the contract to Kofax exceeds $570,000.
The customer, a leading manufacturer and supplier of components for the automotive engine industry, will implement Kofax Capture™, Kofax Transformation
Modules™, Kofax MarkView®, MarkView Advisor™, Kofax SupplierExpress™ and Kofax e-Transactions™ to automate the processing of approximately 300,000
invoices it receives in XML format via email annually. The Kofax software will enable the customer to capture, classify, separate, extract and validate data from
the invoices and route the resulting digital information to its SAP application for accelerated processing and reduced latency.
“Manufacturing companies have a multitude of invoices coming in from diverse suppliers and are able to benefit, quickly and measurably, from investing in an
invoice and AP automation solution that provides a single, unified platform for the automated capture, classification and extraction of information from invoices,”
said Alan Kerr, Executive Vice President of Field Operations at Kofax.
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 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 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 workflows for routing transactions through
exception handling and approval processes, significantly reducing cycle times and costs while optimizing process control and cash flow management.
MarkView AP Advisor is an optional product to Kofax MarkView. It provides AP and finance managers with real-time business process intelligence, plus the
ability to immediately intervene to optimize cash management and resolve process issues impacting AP performance and SLAs.
Kofax SupplierExpress is an AP portal that automates routine supplier interactions including invoice submission and inquiries. Through supplier self-service, this
low cost, easy to adopt, pay-as-you-go solution reduces cost and errors and enhances AP automation payback. Kofax SupplierExpress is an option to Kofax
MarkView.
Kofax e-Transactions (KeT) eliminates the need for the printing, mailing, scanning and entry of information from documents and forms by enabling the electronic
delivery and capture of documents from a sender to a receiver via secure email. Designed for enterprises wanting to migrate from paper to electronic based
processes, it can reduce labor costs, improve information quality and accelerate business processes without the cost and complexity of an electronic data
interchange (EDI).
www.softwaremag.com
Kofax - 6/19/2012
Kofax Augments Mobile Capture Strategy with Pioneering Industry Veteran
Drew Hyatt Brings Extensive Mobile Sales and Marketing Experience
Kofax plc, a leading provider of Capture Enabled BPMTM (business process management) solutions, today announced that Drew Hyatt has joined the Company
as Senior Vice President of Mobile Applications to drive its mobile capture strategy and sales efforts. Mr. Hyatt started on June 18 and works out of Kofax’s
operating headquarters in Irvine, Calif.
Mr. Hyatt most recently worked at Mitek Systems, Inc., where he served as its Senior Vice President of Sales, Product Management and Business Development
for approximately two years. Prior to that, he held a number of executive positions in product management and sales leadership roles in the financial services
industry at HNC Software, Digital Insight and other companies.
“The mobile capture industry is growing exponentially,” said Mr. Hyatt. “New and existing customers are taking note of Kofax Mobile Capture™ and the Kofax Point
of Origination™ strategy, making this an exciting time to join the Company and work with technology that is shaping the future of business.”
The Kofax Point of Origination strategy leverages a combined portfolio of Kofax products, including Kofax Mobile Capture, to help organizations better engage
with their customers and initiate business processes at the Point of Origination where face-to-face interactions actually occur, thereby increasing responsiveness
improving service. In a recent survey by the Association of Information and Image Management (AIIM) "Process Revolution: Moving Your Business from Paper
to PCs to Tablets," 75 percent of respondents considered mobile technologies to be extremely important to customer related processes, and 45 percent of
respondents believed mobile technologies would improve the speed of responsiveness to customers by at least three times.
“Drew’s depth of experience in mobile technologies and the financial services market will be a major benefit to Kofax as we invest in and drive revenues in these
important markets,” said Alan Kerr, Executive Vice President of Field Operations at Kofax.
www.softwaremag.com
Kofax - 6/12/2012
Leading Security Company Expands Kofax Solution
Software to Process 900,000 Invoices and Other Documents Annually
Kofax plc, a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a leading provider of security and
related monitoring services for homes and businesses in North America will expand its solution to include accounts payable automation. The value of the
contract to Kofax exceeds $450,000.
The customer will 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. The expanded solution will enable the customer to capture,
classify and extract data from the documents and route the resulting digital information to its Oracle ERP application for reduced latency and easy access by
employees.
“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 Vice President of Field Operations at Kofax.
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 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 workflows for routing transactions through
exception handling and approval processes, significantly reducing cycle times and costs while optimizing process control and cash flow management.
Kofax VirtualReScan (VRS) Elite is Kofax’s patented image enhancement and perfection software. Kofax VRS Elite reduces the time involved in manual
document preparation and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document
capture processes. High quality images are critical as they can significantly impact the success of downstream data extraction and retrieval needs.
www.softwaremag.com
Kofax - 6/5/2012
Kofax and Alfresco Enter into Technology Alliance
Integrated Solution to Provide Customers with Measurable ROI
Kofax plc, the leading provider of capture enabled business process management (BPM) solutions, today announced that it has entered into a technology
alliance with Alfresco, a leading provider of open source enterprise content management (ECM) systems.
Kofax’s capture enabled BPM solutions capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and
cost effective manner, enabling customers to be more responsive to their constituents, gain competitive advantage and better grow their businesses. Alfresco
provides a low cost, open source alternative to traditional proprietary ECM systems. The technology alliance will offer joint customers the opportunity to benefit
from a complete information management platform that delivers better information quality, greater efficiency, reduced costs and a stronger competitive advantage
across the enterprise for a lower total cost of ownership.
“Kofax and Alfresco have numerous mutual customers eager to increase the ROI from their existing infrastructures by leveraging the ability to capture data and
documents from any source, transform it into actionable information and share it across the organization in an organized, protected and cost-effective manner,”
said John Powell, Chief Executive Officer at Alfresco.
“By using an integrated Kofax-Alfresco platform, customers can benefit from the improved productivity and efficiency provided by capture enabled BPM, coupled
with the simplicity of open source ECM,” said Jim Vickers, Senior Vice President, OEM and Partner Strategy at Kofax.
Through its Technology Alliance Program, Kofax collaborates with complementary software, hardware, consulting and value added reseller (VAR) companies to
deliver customers comprehensive capture enabled BPM solutions that provide an ROI through the capture, customization and delivery of information across the
enterprise. Kofax enjoys strategic, collaborative technology alliances with more than 30 industry leaders such as Microsoft, Oracle, IBM, HP, Ricoh, SAP and
Fujitsu.
www.softwaremag.com
Kofax - 5/18/2012
Kofax Announces Share Purchases by Its Employee Share Trust
Shares to Be Used for Employee Benefit Programs
Kofax plc, a leading provider of capture enabled business process management (BPM) solutions, announces that the Kofax Employee Share Trust (the Trust)
purchased a total of 734,345 shares of Kofax in the open market at an average price of 244.34 pence per share on May 11, 14 and 15 for a total purchase
price of approximately $3.0 million.
Following these purchases, 4,156,337 shares are held by the Trust. Kofax does not intend to fund additional purchases by the Trust during the remainder of
calendar year 2012.
The executive directors of the Company and employees discharging managerial responsibilities are within the class of potential beneficiaries under the Trust and
are deemed to have a non-beneficial interest in these shares, but none of these persons have acquired a beneficial interest in such shares.
www.softwaremag.com
Kofax - 4/26/2012
Kofax to Present at Jefferies and JMP Securities Investor Conferences
Live Webcast Will Take Place May 8
Jefferies Global Technology, Internet, Media & Telecom Conference 2012
Kofax plc, a leading provider of capture enabled business process management (BPM) solutions, today announced it will present to investors at two upcoming
conferences in May: the Jefferies’ 2012 Global TMT Conference in New York and the JMP Securities Research Conference in San Francisco.
Reynolds C. Bish, Chief Executive Officer, will present at the Jefferies conference on May 8 at 10:00 AM EDT. A live webcast and webcast replay with the
accompanying slides of the presentation will be available on the Kofax website at: http://www.kofax.com/ir/presentations.asp for 90 days following the event.
The presentation will be followed by a breakout session and individual one-on-one meetings can be arranged through Jefferies.
On May 14 at 4:00 PM PDT, Mr. Bish will present at the JMP Securities Research Conference. The presentation will be followed by a breakout session, and
individual one-on-one meetings can be arranged through JMP Securities.
www.softwaremag.com
Kofax - 4/24/2012
Healthcare Providers Choose Kofax to Reduce Costs, Improve Service to Patients
Recent Contracts Deliver More than $2 Million of Revenue to Kofax
Kofax plc, a leading provider of capture enabled business process management (BPM) solutions, today announced that sales of Kofax solutions to healthcare
providers continue to grow and gain momentum, with orders from multiple new customers exceeding $2 million in revenue.
Kofax solutions enable healthcare providers to benefit from automated solutions that capture patient, service and insurance information, transform it into
actionable information and route it to enterprise applications and repositories in an efficient, secure and auditable manner.
Examples of recent healthcare solution orders include:
A leading U.S. healthcare provider of nonprofit healthcare plans selected Kofax for its accounts payable automation solution. The customer will implement Kofax
Capture, Kofax Transformation Modules, Kofax Communication Server, Kofax Front Office Server and Kofax VRS Elite to automate the processing of
approximately 7 million invoices it receives annually. The value of the contract to Kofax exceeds $1.5 million.
A leading U.S. operator of inpatient and outpatient rehabilitation hospitals, clinics and home health agencies in more than 25 states will implement Kofax Capture
to capture, index and archive more than 6 million medical records, patient forms and other documents it receives annually for improved efficiency and easy
access by employees. The value of the contract to Kofax exceeds $350,000.
“Kofax healthcare customers are minimizing paper based processes through automation,” said Alan Kerr, Executive Vice President of Field Operations at Kofax.
“This reduces the time, effort and cost associated with manual tasks and improves service to patients, enabling healthcare organizations to manage costs while
simultaneously improving the quality of patient care.”
www.softwaremag.com
Kofax - 4/17/2012
Kofax to Announce Financial Results for the Quarter and Nine Months Ended March 31, 2012 on May 2, 2012
Kofax plc, a leading provider of capture enabled business process management (BPM) solutions, today announced it will publish its financial results for the
quarter and nine months ended March 31, 2012 at 7:00 a.m. UK time on Wednesday, May 2, 2012.
Chief Executive Officer Reynolds C. Bish and Chief Financial Officer Jamie Arnold will review the results and conduct a question and answer session via
teleconference at 8:00 a.m. UK time on May 2. This can be accessed using the telephone numbers below:
Live Call Replay Access Code
U.K. +44 (0) 1452 555 566 +44 (0) 1452 55 00 00 70796232#
U.S. 1-866-966-9439 1-866-247-4222 70796232#
The telephonic replay will be available by 1:00 p.m. UK time on May 2. A transcript and MP3 recording of the call will be available in the investor relations
section of the Company website by Monday, May 7.
www.softwaremag.com
Kofax - 4/12/2012
Kofax Point of Origination Strategy Expands Reach of Capture Enabled Business Process Management
Market Vision to Help Drive Product Development and Marketing Initiatives
Kofax plc, a leading provider of capture enabled business process management (BPM) solutions, today announced the launch of the Kofax Point of Origination™
strategy, which will accelerate the migration of capture from centralized, back office environments to the “point of origination” where customer interactions
actually occur in order to reduce process latency and improve customer service.
The Point of Origination strategy leverages a combined portfolio of Kofax products, including Kofax Mobile Capture, Kofax Front Office Server and Kofax
DotImage Enterprise. These allow organizations to deploy capture capabilities where they best serve the needs of their business by enabling customers, partners
and employees to use smartphones and tablet computers, desktop scanners, multi-function peripherals (MFPs) and internet portals to initiate business processes
sooner and better serve their constituencies.
The benefits of the Kofax Point of Origination strategy can be demonstrated through several use cases. For example, a potential banking customer could use a
smartphone to enter and “scan” the information and documents necessary to initiate a new account opening process. An auto insurance customer could similarly
initiate a claim within minutes of the occurrence of an accident. Truck drivers could similarly “scan” proof of delivery documents and immediately submit that
evidence to downstream tracking and billing processes. In each example, process latency is reduced, exceptions can be resolved faster and customer service
is improved.
The Point of Origination strategy is one of three pillars driving product development and marketing initiatives at Kofax. The guiding principles of “touchless
processing” to minimize human intervention throughout a business process, and “enterprise ready” to ensure compliance and interoperability with standard IT
infrastructure and applications, complete the three pillars.
“Much of today’s business environment is shaped by the way in which organizations interact with their customers, making customer satisfaction and retention
necessary for maintaining competitive advantage,” said Martyn Christian, Chief Marketing Officer at Kofax. “By providing a capture enabled BPM solution based
on the Point of Origination strategy, Kofax customers can improve customer service and ultimately deliver ROI across the entire organization.”
Kofax solutions based on the Point of Origination strategy enable organizations to proactively capture information whether from a customer’s home, local branch
office, or field representative using a smartphone or mobile device. Point of Origination solutions increase productivity and efficiency while minimizing costs due
to reduced manual intervention, faster processes and improved accuracy.
www.softwaremag.com
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