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50%

Faster Invoice Processing

30%

Cost-Avoidance on Extra AP Personnel

Releases

Time for Value-Added Activities

With invoice volumes growing year-on-year, the accounts payable (AP) department at high-tech optics manufacturer Meopta found itself buried in time-consuming manual work. Using Kofax TotalAgility, Meopta automated its invoice approval workflow: boosting efficiency, cutting approval times in half and avoiding a 30 percent increase in AP headcount.

"Prior to the digitization initiative, our AP team was planning on hiring additional personnel to handle the year-on-year growth in invoice volumes. Thanks to Kofax TotalAgility, our existing team can process more than 40,000 invoices per year with capacity to spare—avoiding a 30 percent increase in AP costs."

Radim Klasek, CIO

Products

Kofax TotalAgility

Focus

Digital transformation
Accounts Payable (AP) digitization
Business process automation
Straight-through processing

About Company

Headquartered in Prerov in the Czech Republic, Meopta is an international company with a rich tradition of developing, manufacturing and assembling world class optical, opto-mechanical and opto-electronic products. Employing 2,200 people, Meopta operates manufacturing facilities in the Czech Republic and the United States.

WWW.MEOPTA.COM

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