Kofax Limited a provider of smart process applications that help improve the “first mile” of customer interactions has released a new version of its Kofax AP Agility smart process application (SPA) that is based on the company’s TotalAgility platform.
Grant Johnson, chief marketing officer at Kofax said, “AP Agility is a compelling solution that addresses the end-to-end procure-to-pay process, giving chief financial and procurement officers the much needed visibility and insight necessary to better control their company’s spend.”
According to officials this new solution will enhance accounting processes as it features advanced analytics capabilities. This will help business users to assess the effectiveness of their accounts payable processes and also measure staff productivity levels. As it is a cloud-based offering, the solution can be deployed quickly without making new hardware investments.
Users will also be able to view the status of invoices that are being processed and assess spend management details in addition to being able to view available discounts and late payments. They can assess supplier activity, examine invoice volumes and expenditures and identify duplicate invoices and approval violations.
AP Agility’s best practice accounts payable capabilities accept invoices in different formats, such as paper and in the form of electronic invoices, faxes, E-mails, Web portal submissions and as XML and EDI data streams. The solution can extract business critical invoice data and validate it against ERP system data. Plus, organizations can leverage the configurable matching rules to accommodate inevitable exceptions that may arise while processing invoices, purchase orders and receipts.
Flexibility has also been a prime consideration as a pre-built framework helps users to integrate with any on premise or cloud based accounting or ERP system. The solution ensures out-of-the-box integration with Microsoft (News - Alert) Dynamics AX. As Kofax notes, the new capabilities will enable companies to enhance their competitiveness and productivity by ensuring on time payment of invoices, better management of cash and the elimination of operational bottlenecks.
Recently Kofax unveiled a new mobile app for gift card balance inquiries based on the Kofax Mobile Capture Platform. The first of its kind, this new mobile app allows consumers to check the balance remaining on a gift card via their smartphones and enables card issuers to use mobile engagement to drive greater customer loyalty and revenue.
Edited by Peter Bernstein