Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, announced a new release of the MarkView Financial Suite, a comprehensive set of capture enabled financial process automation solutions on a single platform that automate accounts payable and other processes.
Release 6.5 is the first release following the acquisition of 170 Systems by Kofax during September 2009 and fully integrates Kofax's industry leading capture software to create a complete end-to-end financial process automation solution. This enables the automated receipt and capture of paper and electronic documents, extraction and perfection of the data and workflows for routing transactions through exception handling and approvals on one unified platform.
"Release 6.5 is designed to help customers realize lower costs by providing a single, consistent end-to-end process for handling all paper and electronic invoices," said Jim Nicol, Executive Vice President of Products at Kofax. "This new release reflects our commitment to best leverage assets from the 170 Systems acquisition to deliver a financial process automation platform that is simple to deploy and use while reducing a customer's total cost of ownership."
"As a champion of the E-Payables AXIS Report, Kofax solutions should be strongly considered by all A/P departments contemplating an A/P transformation/automation project," said Andrew Bartolini, Vice President of Global Supply Management Research at Aberdeen.
Full Kofax Capture Integration
MarkView 6.5 features full integration of Kofax capture software that streamlines the transformation of business documents into structured electronic information. This includes the business rules, knowledgebases and learn-by-example technologies for invoice recognition, classification and extraction that results in improved data quality, reduced processing costs and fewer exceptions. For example, invoices without a corresponding purchase order can be automatically routed for approval without the need for manual, time consuming processes.
Integration of Kofax e-Transactions
With the integration of Kofax e-Transactions, users can also take advantage of a single platform for the processing of both paper and electronic invoices. This means that all relevant invoice data can be captured during the invoice print process, extracted, encrypted and then delivered to MarkView approval workflows for automated validation and approval.
Simultaneous Support for Oracle and SAP and Expanded SAP Integration
Release 6.5 supports both Oracle and SAP simultaneously, thereby delivering improved service to customers with either ERP system via a single financial process automation platform. The release has also passed certification for SAP ArchiveLink integrated with SAP NetWeaver 7.00, which further strengthens Kofax's commitment to provide robust integration between Kofax MarkView and SAP products.
Support for Windows 7 and Internet Explorer 8
The new release also adds support for Windows 7 and Internet Explorer 8. This allows users to run MarkView using the latest Microsoft operating system and browser platforms, further enhancing access and ease of use.
New Language Support
MarkView 6.5 expands its global market access by adding support for new languages. Along with French and German, the release now supports Italian, Spanish and Portuguese for both Oracle and SAP environments.
About Kofax
Kofax plc (LSE: KFX) is the 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. For more information, visit www.kofax.com.
