The role of the Accounts Payable department is dramatically changing in many companies – they are no longer simply responsible for processing invoices and reconciling accounts, but are now tasked with contract and policy compliance, reporting and analysis, all of which increase the workload of skilled knowledge workers.  To deal with this, AP departments are looking for effective and reliable ways to automate their back-office administrative tasks such as invoice processing.

The answer is Kofax Transformation Modules

Kofax Transformation Modules, in combination with Kofax Capture and Kofax e-Transactions, provides your Accounts Payable department with the ability to capture paper or electronic invoices at a remote or central site, extract all the necessary information automatically and match it to purchase order data, enabling automatic booking of invoices in the world's leading ERP systems, including SAP and Oracle Financials.

The result: complete control over your AP process.

Kofax Transformation Modules lie at the very heart of invoice automation. They provide a powerful but easy-to-maintain solution for automatically extracting invoice data and validating it against business rules and PO data.

Kofax is a world leader in invoice extraction technologies.  Now, AP departments of all sizes can benefit from our expertise through Kofax Transformation Modules.

Benefits

• Complete control over the AP process. Kofax solutions provide a controlled framework for capturing invoice data and delivering it quickly into a secure repository. Powerful data validation capabilities ensure that the data is accurate.
• Increased productivity. By automating back-office administrative tasks like invoice processing and PO matching, AP staff can focus on more strategic and value-adding tasks such as contract and policy compliance, reporting and analysis.
• Increased processing speed. Automatic extraction means invoice data is available within minutes of receipt, allowing better management of cash at hand and capitalization on preferred vendor relationships and vendor discounts.
• Reduced processing costs. Aberdeen reports that the actual cost of processing an invoice from receipt to payment can be as high as $80.  Automating invoice extraction and matching can reduce this by 50%.

With Kofax Transformation Modules,
AP departments achieve:

• Automatic booking of invoices. Kofax Transformation Modules hook directly into PO data to enable matching as part of the capture process.  The mobile phone provider Debitel achieved a 90% automatic booking of invoices in SAP without any manual intervention.
• High levels of invoice extraction from Day 1. Learn-by-example technology automatically learns how to extract data from invoices of any format with a high degree of accuracy.  The result is a quick-to-configure and easy-to-maintain solution that handles all your invoices.
• Automatic improvement of performance on-the-fly. Unique on-line learning capabilities automatically update the system's knowledgebase as it runs.  As more invoices are processed, more data can be extracted automatically, leading to a greater return on investment.
• Clean and valid data. Extensive validation options help the solution deliver clean data into the ERP system, reducing costly processing exceptions downstream.