While processing and paying invoices is routine, struggles remain with the process itself – high-volume data entry, frequent discrepancies between buyers and sellers, complex control processes and burdensome audit requirements. Kofax meets these challenges with advanced data capture that reduces invoice data entry 70-90% and can simultaneously identify and help resolve PO, price or vendor issues.
Our multi-channel capture and automated workflow capabilities enforces common business rules across your organization, recording all transactions for audit and compliance purposes. This helps cut labor costs by up to 50% and shortens processing times so your company can capture more early payment discounts, resulting in potentially millions of dollars in savings.
Introducing Kofax AP Agility
Built on the Kofax TotalAgility® digital transformation platform, Kofax AP Agility™ is an AP automation solution that supports single or multiple ERPs. AP Agility combines Kofax Invoice Processing Agility™ (capture), process management, ERP integration and analytics to address the entire AP automation process.
With 3.9x as many invoices able to be processed, and 63% more invoices processing as straight-through process (STP), the efficiency via automation is clear. The reduction in processing costs is equally compelling, with automated solutions providing a 51% cost savings per invoice transaction
Improving the efficiency of your invoice processing is just the start for a best-in-class AP department. When optimized productivity is matched with information visibility and analytics, AP has the tools to transform into a business intelligence powerhouse.