Corporate Social Responsibility
During the financial year 2010, we have further improved our profile as a socially responsible company through the rollout of a number of initiatives. The Company’s executive management is responsible for the continued implementation and monitoring of the Company’s compliance in all matters of corporate social responsibility. In addition, the Company’s corporate social responsibility risks and compliance are regularly reviewed by the Board of Directors with the assistance of the Company’s executive management.
EMPLOYEES
During the year, we continued to implement a series of new human resources policies and procedures. In addition, the Company conducted management training sessions worldwide to further develop consistent and professional management practices. As at June 30, 2010 the Company employed 1,150 professionals in 37 countries, making us a leader in our field in terms of global coverage and the ability to serve customers both on an enterprise level as well as locally. We believe that this is a key strength of the Company. The skills and experience of the people working for us are the most important factors supporting this competitive advantage. To successfully exploit all the opportunities we have and cope with rapidly changing markets and the challenging economic environment, it is crucial to continuously attract, retain and develop talented employees. Therefore, maintaining good relations with our employees is a high priority at all levels of the organisation.
Kofax has been highly successful in attracting high calibre professionals and in developing the Company’s talent. James Arnold, Jr. was hired in June 2010 as the Company’s Chief Financial Officer and Martyn Christian in July 2010 as its Chief Marketing Officer, both of whom possess extensive executive management experience in the enterprise software market. In addition, the Company continued to hire new sales executives to greatly enhance its selling capabilities in the enterprise software market. These hires are part of a series of successful initiatives to further enhance the Company’s market position and revenue growth.
The Company’s communications with its employees are a high priority. We regularly inform all employees about market developments, changes in our business, and product and strategy updates. We hold quarterly all-employee meetings, formal and informal employee briefings, and management and sales conferences to update and obtain feedback from employees on all aspects of the business. We make use of Company email, webcasts and intranet sites to provide information and news. “This Week at Kofax,” a weekly newsletter, gives all employees a cohesive, up-to-date look at the latest news from throughout the organisation.
OUR CUSTOMERS, SUPPLIERS AND BUSINESS PARTNERS
No company can thrive without a satisfied and growing base of customers, suppliers and business partners. During the last year we continued to furnish our business partners and end user customers with quality products and services which allow them to increase their competitiveness in their respective fields. The Company regularly consults with its customers, suppliers and business partners as to how to improve its business.
COMMUNITY
The Company is dedicated to giving back to the communities in which it conducts its business. During the financial year 2010 the Company therefore donated funds to poverty assistance and literacy programs. In addition, the Company implemented a Corporate Donation and Employee Matching Program, whereby the Company matches donations made by employees to specifically designated and reputable charitable organizations.
HEALTH AND SAFETY
The Company recognises its health and safety duties under the Health and Safety at Work Act 1974 and the Management of Health and Safety at Work Regulations 1999 as well as applicable local laws and regulations, and as a result continued to further implement its health and safety policy during the financial year 2010. Pursuant to this policy, the Company is committed to ensuring, as far as is reasonably practicable, the health and safety and welfare at work of its employees, consultants, subcontractors and visitors to its facilities. The Company takes as a high priority the provision and maintenance of work systems that ensure employees are safe and without risk to health, and the provision of appropriate information, instruction and supervision as necessary to ensure the health and safety at work of all employees, consultants, subcontractors and visitors.
ENVIRONMENT
The Company is committed to assessing and minimising its potential impact on the environment and improving its environmental performance, and as a result continued to implement its Company wide environmental policy during the financial year 2010. The Company integrates environmental concerns into relevant business decisions in a cost efficient manner. In doing so, the Company promotes environmental awareness among its employees. The Company further takes complaints about any breach of its environmental policy seriously, and shall act to promptly correct any such breaches. The Company’s environmental policy is available on the Company’s web site at www.kofax.com/ir.
EQUAL OPPORTUNITY
Kofax is committed to providing a work environment that is free from unlawful discrimination and harassment in any form. It is the Company’s policy to comply with all applicable laws that provide equal opportunity in employment for all persons and to prohibit unlawful discrimination in employment. This policy applies in full force to all Company employees around the world, consistent with local laws and regulations.
CODE OF ETHICS
During the financial year 2010, the Company adopted a Code of Ethics to ensure that the Company continues its strong record of responsible business practices and ethical conduct by its employees. New online training and compliance programs are being implemented, requiring the active participation of all employees worldwide. The Company’s Code of Ethics is available on the Company’s web site at www.kofax.com/ir.
FUTURE INITIATIVES
The Company plans to further strengthen its profile as a corporate citizen during the next financial year and to better position itself to serve the needs of its customers and business partners. The Company also plans to implement more consistent processes, policies and procedures on a global basis.
September 20, 2010
