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Kofax land major new $1m deal

Wednesday 20th February, 2013

A major global agricultural products manufacturer has 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.

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 organisations to raise productivity, improve invoice match rates, take more early-pay discounts and achieve greater spend visibility.”

Howard Dratler, executive vice president of Field Operations at Kofax said:“Hundreds of global companies have entrusted their invoice and AP automation needs to Kofax.”

He added: “Our solutions help customers streamline operations, increase productivity, and achieve best-in-class AP performance.”