IRVINE, Calif.--(EON: Enhanced Online News)--Kofax plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a leading financial services firm provider in the U.K. invested more than $550,000 in Kofax software to process more than five million documents per year. The implementation is expected to dramatically reduce operating costs while reducing document processing times by 70%.
“This customer had three specific goals – saving time, saving money, and more efficiently processing a massive volume of mission critical documents”
The organization invested in Kofax Capture™, Kofax Virtual ReScan® (VRS) Elite, and Kofax Transformation Modules™ to capture and process a wide range of financial documents such as mortgage applications, trailing documents, bank statements, tax and compliance forms and identification documents. Kofax’s software enables the organization to automatically classify documents and extract content needed to drive downstream business processes, which will significantly reduce the labor intensive, manual work that would otherwise be necessary.
“This customer had three specific goals – saving time, saving money, and more efficiently processing a massive volume of mission critical documents,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “After an extensive evaluation of multiple vendors, they selected Kofax because we offer proven scalability, the widest set of capabilities, the best strategic road map and the lowest level of risk.”
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 data center.
Kofax VRS Elite is Kofax’s patented image enhancement and perfection software. Kofax VRS Elite reduces the time involved in manual document preparation and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document capture processes. High quality images are critical as they can significantly impact the success of downstream data extraction and retrieval needs.
Kofax Transformation Modules adds document classification, page separation, data extraction and validation capabilities to Kofax Capture to drive robust capture-to-process applications. By automating what were previously labor intensive, error prone and time consuming tasks, Kofax Transformation Modules can significantly reduce labor costs, improve information quality and accelerate business processes.
For additional information, please contact Kofax online or by phone at +1-949-727-1733.
Kofax® plc (LSE: KFX) is a leading provider of innovative smart capture and process automation software and solutions for the business critical First Mile of customer interactions. These begin with an organization’s systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization’s customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.
© 2013 Kofax, plc. Kofax and Kofax Virtual ReScan are registered trademarks and First Mile, Kofax Capture and Kofax Transformation Modules are trademarks of Kofax, plc.