AP is a difficult process to tame, yet well worth the effort. The reasons for investing in Accounts Payable automation are compelling and in this paper we will make them clear.
Presented by American Banker – Previously controlled by a group of very large brands that held a considerable competitive advantage, the foreclosure crisis has opened up more opportunities for all banks to capture market share.
The city of Amsterdam has launched a pioneering e-government initiative that allows citizens to apply for financial incentives and subsidies online. By replacing disjointed, paper-based processes with a centralized and digitized approach to managing subsidy applications, the municipal government has saved millions of Euros and can deliver a much more responsive, consistent service to citizens.
Koppens Developments transformed accounts payable into a highly efficient, automated function by working with Data Capture Experts to deploy Kofax® TotalAgility™.
W.R. Grace and Company replaced a home grown system with Kofax solutions for greater integration with SAP and to optimize AP processes worldwide. Since implementation, the chemicals giant has reduced cost per invoice from more than $7 to $1.50 in Asia and Europe, and from $5 to $2.25 in the U.S.
This bank used Kofax® Kapow™ to automate data-gathering processes linked to Customer Due Diligence (CDD) and Know-Your-Customer (KYC) checks. Today, the bank can now complete data-collection tasks that once took roughly 15 minutes in under 90 seconds on average, saving thousands of person-hours a week.
Spanish professional services company Grupo EULEN has transformed manual and disjointed accounts payable processes into a centralized, ef cient function. With a solution from Kofax, the Group has digitized and automated the processing of over 200,000 invoices payable per year, freeing up time that employees can devote to more value-added business activities.
Capita Group Plc, a FTSE top 50 company, is the UK's largest business process outsourcing (BPO) and professional services company, with annual revenues of £2.7 billion. Capita Group's existing purchase-to-pay (P2P) processes were labour-intensive, requiring significant manual keying and re-keying of inbound paper invoices into SAP.
Siemens implemented Kofax Perceptive Intelligent CaptureTM to increase automation of its high-volume accounts payable operations.
This South African bank is disrupting the market with an innovative mobile app for onboarding customers, driven by Kofax capture technology. By enabling customers to apply for an account on the go—without having to visit a branch—the bank has increased new account openings by 50 percent, growing market share and boosting financial inclusion.
This global insurer used Kofax solutions to develop a mobile app that allows corporate plan members to submit their insurance claims, find the nearest clinic and compare treatment costs—anywhere, anytime. The new solution cuts claims processing time by 50% on average, and will give the company a valuable competitive advantage in a crowded insurance market.
This bank is making it quicker and easier for customers to open new accounts and apply for credit products with Kofax TotalAgility®.