Kofax Automates Accounts Payable Processes for Major Global Agricultural Products Manufacturer

Chineham Park occupier, 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 (£647,752) 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.”