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Kofax Unveils New Electronic Invoice Processing Solution

22 Oct, 2008

Kofax Unveils New Electronic Invoice Processing Solution

p>Basingstoke, England (October 2008) - Kofax, the leading provider of Intelligent Capture & Exchange solutions, today announced the launch of Kofax e-Transactions, which adds electronic invoice processing capabilities to Kofax solutions and thereby enables organizations to process all incoming invoices – whether they arrive in electronic or paper form. Easy-to-use and deploy, e-Transactions integrates seamlessly with Kofax Capture and Transformation Modules to offer the world’s most advanced solutions to automate invoice processing in accounts payable departments.

Providing a simple and efficient way to reduce time-consuming and costly manual paper-processing, Kofax e-Transactions captures and encrypts print files or imported data in standard text, image and extensible markup language (XML) file formats. The resulting electronic information is then collected and delivered to Kofax Transformation Modules for classification, data extraction and data perfection.

The software eliminates the need to print, mail, receive and process paper-based invoices and other documents, thereby significantly reducing otherwise manual labor processes and costs, improving the accuracy of the related data and accelerating processing times. This enables better accounts payable management to ensure that all application terms, conditions and discounts are fully utilized.

Kofax e-Transactions is already being successfully deployed at several early adopters. One example is Oakwood Worldwide, a leading global corporate housing and serviced apartment provider, which has integrated the new technology as part of its existing Kofax invoice processing solution.

Kofax e-Transactions is available now. For more information about this or other Kofax products, visit www.kofax.com.

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