Automating the accounts payable process has various advantages for a company. As all the repetitive and mundane tasks are automated, the finance managers can focus on the core financial activities and leave the rest to the automation.
Kofax has announced that the company has won four new customers, who have chosen the company’s Kofax MarkView for Accounts Payable product. Collectively, these customers will be processing more than one billion invoices annually and the total value of the sales is $2.4 million.
Kofax MarkView for Accounts Payable has the ability to automate the capture and processing of invoices. This brings in enhanced efficiency and reduction in cost. The solution works well with Oracle (News - Alert) e-Business financial systems too and this factor played a major role in its selection by these companies.
Kofax MarkView for Accounts Payable is ideal for AP and other functions. It’s a capture-enabled financial process automation application. It saves the time by automating the invoice process extracts relevant data from that content. This information is then sent through workflows for routing transactions through exception handling and approval processes.
Kofax MarkView also provides information capture ability along with best practice workflows for discrepancy processing, resolution and accounting details. MarkView 8.0 now comes equipped with mobile abilities for iPhone and Android (News - Alert) devices, too. This enhances responsiveness of line of business employees and executives.
“Companies across the globe use Kofax technology to improve operational efficiency and better manage overhead expenses,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “Kofax is the accounts payable automation solution provider of choice for thousands of diverse companies, and as these recent customer wins demonstrate, the demand for this market-leading solution continues to grow.”
Recently, the MarkView software assisted a U.S.-based security services company to automate and streamline its accounts payable (AP) operations in Latin America. The application will help the security solutions company to capture, extract and process data.
Edited by Ryan Sartor