What’s New in Kofax AP Automation

Your business is always evolving and along with it, your accounts payable automation needs are too. At Kofax, our AP automation solutions are also advancing to serve you better — enabling you to work smarter, supporting you on a global scale, and helping you do more in the cloud. Read on to see what’s new across the Kofax AP Automation portfolio.

Before we jump into new features, you should know we’re renaming Kofax ReadSoft Online™ to Kofax AP Essentials™. It’s the same industry-leading SaaS AP automation solution our customers depend on, just with a new name. Along with the new name, we’re making several enhancements to AP Essentials , AP Agility and Invoice Portal solutions.

Let’s start with a closer look at what’s new in AP Essentials Release 10.4

• Cost savings for the accounts receivable function through expanded document intelligence capabilities that capture, verify and validate incoming PO data.
• Better extraction results with administrators now able to lock the learning process for specific suppliers. This prevents operator errors or occasional irregular documents from degrading your stored learning data.
• More support for your global business, with Indonesia, Singapore and the Philippines added to our extensive list of supported country-specific invoice formats.
• Increased productivity through smart workflows that enable quicker and more efficient exception handling.
• More insights through a touch-rate dashboard that allows you to more seamlessly measure the degree to which your invoices are being processed without exception.
• Continuing ERP ecosystem support, with testing and recertification of our integrations with CoupaLink and Oracle NetSuite, as well as a new connector for SAP S/4 HANA ES.

AP Essentials is a great invoice automation solution that can quickly and easily be implemented as a service, while still providing all the features your business needs.

If your company has or plans to embark on workflow automation initiatives across the enterprise, also consider AP Agility, with its ability to orchestrate complex accounts payable workflows and integrate into multiple ERP and business systems environments.

New features in AP Agility Release 2.5

• Expanded extraction capabilities for the large number of customers doing business in China. QR codes are now extracted on Chinese VAT invoices, along with the Payee, Reviewer and Drawer fields, and the Remarks section.

• Improved company code detection, based on a preferred address (Bill-to, Ship-to, etc.) and learning from previous corrections.

• More efficient workflows through simplified processing of invoices that relate to one-time vendors, along with additional exception handling for PO and Non-PO invoices.

• New ERP ecosystem support with a connector for SAP S/4 HANA EX.

Invoice Portal, our SaaS e-invoicing automation solution, also offers new capabilities including expanded PEPPOL regional support for Germany and Australia-New Zealand, and support for two-factor authentication.

Finally, supporting the complete Kofax AP automation portfolio, we recently expanded our cloud capabilities with data centers in Australia and Europe. These facilities provide greater compliance with data residency requirements.

You can see we’re continuously adding new capabilities across our AP Automation portfolio. Be sure to check our blogs and product portfolio webpage for future updates.