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Inter-American Development Bank Selects Kofax for Enterprise Capture Solution

24 Nov, 2010

Inter-American Development Bank Selects Kofax for Enterprise Capture Solution

IRVINE, CA (Nov. 2010)- Kofax , a leading provider of document driven business process automation solutions, today announced it will provide an enterprise capture solution to Inter-American Development Bank (IDB), a leading provider of development financing in Latin America and the Caribbean.

IDB will implement Kofax Capture and Kofax Transformation Modules to process over three million customer agreements, records, correspondence and other financial documents it receives annually. The documents, many of which are written in Spanish, will be scanned and the resulting images automatically separated and classified prior to the critical business information being extracted. Images and information will then be routed to a repository for easy access and downstream business processes, resulting in greater operational efficiency that will enable the organization to optimize staff resources and accelerate processes.

“Strategic investments in enterprise document capture provide a significant ROI for financial services firms looking to streamline the workload associated with paper intensive processes,” said Alan Kerr, Executive Vice President of Field Operations at Kofax. “These solutions can reduce the cost and errors generated by manual tasks, freeing up valuable resources to be used more effectively in other areas that enhance customer service.”

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 operation.

Kofax Transformation Modules adds document and form classification, page separation, comprehensive data extraction and validation capabilities to Kofax Capture and provides robust scan-to-process applications. By automating what were previously labor intensive, error prone and time consuming tasks, it can significantly reduce labor costs, improve information quality and accelerate business processes.

About Kofax
Kofax is a leading provider of document driven business process automation solutions. For more than 20 years, Kofax has provided award winning solutions that streamline the flow of information throughout an organization by managing the capture, transformation and exchange of business critical information arising in paper, fax and electronic formats in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in financial services, government, business process outsourcing, healthcare, supply chain and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 700 authorized partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit www.kofax.com.

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