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As a Champion on the E-Payables AXIS, Kofax should be strongly considered by all A/P departments contemplating an A/P transformation / automation project.

Building a case - E-payables Benefits

  • Lower invoice (and payment) processing costs
  • Faster invoice processing cycle times
  • More early-pay discounts; fewer late payments
  • Fewer payment errors, lower levels of fraud
  • Superior process and data visibility
  • Better staff efficiency

Billentis"In the midst of the current global recession, finance and other enterprise executives have intensified their focus on cost containment and the optimization of working capital. The Accounts Payable (A/P) department is uniquely positioned to support these objectives. Unfortunately, the average A/P department lacks the automation, executive focus, and general business alignment needed to effectively do so. In fact, the manual, paper-based processes, in place in a majority of A/P departments, are eroding the bottom-line of large and mid-market enterprises to the order of millions of dollars each year. While A/P automation offers compelling transaction cost savings and other strategic benefits, only one-third of all enterprises have any significant level of automation in place. Opportunities abound."

The e-Payables AXIS

Kofax Achieves the Highest Score When Evaluated on Market Readiness & Value Delivered to Current Customers

The Aberdeen E-Payables AXIS report is especially relevant to enterprises planning to automate existing manual A/P systems.  Kofax (representing the combined capabilities of Kofax and newly acquired 170 Systems) achieved the highest total score (99) in this evaluation of leading systems. As a CHAMPION vendor,  Kofax has demonstrated superior proficiency in delivering both real value as well as the ability to serve and support its installed user base.

80% of all invoices are still paper, and manual checks are used for approximately 60% of all payments.  As enterprises evaluate their current A/P processes the impact of A/P deficiencies become more apparent. These include:

  • Inadequate technology
  • Lack of centralization of oversight
  • Lack of process visibility.

Watch it now!: February 18 webinar Accounts Payable Automation: Choose or Lose in partnership with Aberdeen Group
To learn more about Kofax solutions for AP automation or contact us for a personalized demo.

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