General DescriptionCustomers today demand ease of use, self-service, short response times, collaboration, and visibility into the process. And all this anywhere, anytime and through any device. However, information-based interactions such as filling out a claim, applying for a mortgage or admitting a patient are still labor intensive, slow and prone to errors. This is because the systems that make up the backbone of many companies (systems of record such as ERP, ECM, BPM and CRM) were designed to manage a business efficiently, not to offer a high level of interactive self-service, speed, visibility, collaboration, or adaptability.
Smart process applications (SPAs) are a new category of software that helps meet the challenge generated by the first interactions with the client or First Mile. They support business activities that are labor intensive, highly variable, little structured and subject to constant change. Smart process applications provide an essential link between systems of record and systems of interaction, i.e., the way in which customers interact with an organization. These systems of interaction include face-to-face interactions at branches, web portals, mobile applications, and social networks.
Kofax solutions optimize business processes in a wide range of vertical industries and horizontal applications
Solutions for your industry
As the financial sector recovers after a turbulent period, banks are adapting to a changed market that now rewards the cost control and risk management while still offering new opportunities for growth. The leaders of the banking sector are also learning to attract a new generation of customers. These are tech-savvy consumers who expect and demand better service and convenience, including easy access to the web and mobile communication channels. This is the reason why banks are modernizing their critical business processes with Kofax enterprise capture solutions. Now you have the power to offer higher levels of service and efficiency, starting with opening accounts without complications.
Drive new business with exceptional customer serviceSpend more quality time with customers by eliminating tasks related to document management and validation, and data entry, which are labor intensive. Delight your customers with ultra fast account opening processes thanks to contactless signup forms and verification documents.
Develop a solid regulatory compliance platformSystematically track data and documents from the moment they enter your organization until their final filing, allowing for efficient audits.
Implement efficient document validation and disposal practices that are compliant with applicable laws and industry regulations.
Increase efficiency and reduce operating costsEliminate delays thanks to the direct release of document processing immediately after receiving them.
Increase productivity by processing more documents with the same or fewer resources.
Business process outsourcing (BPO) solutions
The best invoicing and accounts payable indicators are the reward for those who never stop automating
Welcome to our resources page for finance professionals. Kofax's solutions for invoice and accounts payable processing automation streamline the process of invoice capture to increase processing speed and reduce the costs generated by data entry. Our tools allow you to leverage best practices workflows to launch review, coding and approval invoice processes, which in turn provides a quick return on investment. Discover how our customers achieve the best indicators in their industry and improve service levels to achieve these advantages:
Optimized Treasury management and accounts payable performance management in real time
Get the most out of prompt payment discounts and avoid penalties due to delays in payment. Get visibility into the accounts payable process to make sure it complies with the key performance indicators (KPIs) and service-level agreements (SLAs).
Improvements in data quality and accuracy
Validation of all invoices as they are captured, so approval processes are implemented without delay, and improvement of business decisions through the provision of high-quality data on suppliers.
Increase in processing speed and reduction in processing costs
Automated capture of paper and electronic invoices as soon as they are received. Elimination of delays generated by data entry through the use of automatic optical character recognition. Automatic launch of invoice approval workflows for their proper coding and approval, allowing customers to make payments on time. Reduction of data entry costs thanks to automated recognition and validation of invoice description details. The investment is recouped in less than 12 months.
Optimization of visibility and improved control
Conversion of all invoices into electronic files and data in standard formats, which can be accessed by any authorized person (or even several people at the same time) from their computer's desktop at any time. Implementation of a formal, auditable process to capture invoices, regardless of format or content, and implementation of security measures and storage policies to reduce the risk of non-compliance with applicable rules and regulations.