Kofax Introduces Advanced Invoice Processing Solution to Digitally Transform Accounts Payable Operations
Built on the Kofax TotalAgility Platform, IP Agility Dramatically Improves Productivity While Reducing Costs
Irvine, CA, August 30, 2017 – Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, today announced the availability of Kofax IP Agility™. IP Agility is an advanced invoice processing solution built on the Kofax TotalAgility® digital transformation platform.
As a comprehensive invoice processing solution, IP Agility solves problems caused by time consuming, labor intensive manual data entry and the resulting lack of visibility into invoices being processed. Leveraging Kofax’s best-in-breed financial process automation expertise, IP Agility automates the receipt of invoices already in an electronic format, paper invoice scanning, classification, data extraction, perfection and export to ERP and accounting systems, empowering the enterprise with deep insight throughout the process. 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 centers 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.
According to Ardent Partners1, “Automation can have a truly transformative effect on the AP process by removing paper and its associated manual activities from the invoicing process. This allows for deeper process visibility as well as greater control and insight related to financial and operational data.”
“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.
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