Kofax introduces advanced Invoice Processing solution

Kofax has launched a new advanced invoice processing solution based on its TotalAgility platform, dubbed IP Agility, which automates the receipt of invoices already in an electronic format, paper invoice scanning, classification, data extraction, perfection and export to ERP and accounting systems.

“Leveraging our leading financial process automation expertise and TotalAgility platform for digital transformation, we’ve created an innovative solution that eliminates inefficiencies in invoice processing,” said Reynolds C. Bish, Chief Executive Officer of Kofax.

“IP Agility promotes rapid time to value, and helps redefine the experience, delivering dramatic improvements in productivity while reducing costs.”

IP Agility offers:

  • Data validation and automatic purchase order (PO) line item matching - Data validation is enhanced by fuzzy logic, improving extraction results and automating more accurate PO line item matching.
  • Support for global organizations  - Global organizations and shared services centres can process invoices from many countries and in different currencies using a single instance of IP Agility, and configure the solution by individual business unit with multi-lingual support.
  • Automatic receipt of any type of invoice - Invoices are processed automatically regardless of how they are received – by email, fax, paper, PDF files or xml.
  • Highly scalable solution  - IP Agility is highly configurable, addressing the most complex, high volume invoice capture and processing requirements.
  • Business system integration - IP Agility easily interfaces with most ERP and accounting systems, including SAP and Oracle E-Business Suite.
  • Reporting and analytics - Reports and intuitive dashboards deliver comprehensive views of processing steps as well as detailed metrics to empower better financial decision-making.
Business Solution: