|By Business Wire||
|May 28, 2014 03:00 AM EDT||
Kofax® Limited (NASDAQ:KFX) (LSE:KFX), a leading provider of smart process applications for the business critical First MileTM of customer interactions, today announced that a global industrial products installation and maintenance service provider has selected Kofax Mobile CaptureTM Platform to capture, submit and process employee expense receipts via mobile devices.
The service provider, a subsidiary of a Global 100 company, is using Kofax Mobile Capture Platform to ensure its global field team can capture high quality expense receipt images in a timely manner by using the camera on their mobile devices. The solution automatically compresses images into small file sizes that are more efficient for transmission, submission, processing and archive purposes. The customer estimates that 1,500 employees will use the solution to improve productivity, giving them the ability to submit expense receipts any time of day from anywhere in the world.
According to the research report Travel and Expense Management 20141 by PayStream Advisors, mobile capture is the most used feature of an automated expense management system. In addition, the report states, “One finding that should be of particular interest to organizations with a high level of employee mobility … the difference between processing fully automated and manual reports was calculated to be $12.58. Considering close to 10% of respondents also reported processing more than 5,000 expense reports per month – this can be a six-figure difference in costs and therefore, a huge opportunity for savings.”
“Good corporate stewardship requires a continuous, proactive search for ways to improve operational efficiency and achieve cost savings,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “By using Kofax Mobile Capture Platform, this service provider can free its field personnel from tedious manual expense reporting, allowing them to focus more time on customers and growing revenues.”
Kofax Mobile Capture Platform turns smartphones into information capture devices with more dynamic apps that meet users where they are, when they want to be engaged and on their preferred channel. With Kofax Mobile Capture Platform, organizations can improve and accelerate transactions across all lines of business while driving greater revenue.
The sale was comprised of approximately $250,000 in software license revenue, $45,000 in maintenance services and $45,000 in professional services and closed in the quarter ending March 31, 2014.
Kofax is a leading provider of smart process applications for the business critical First Mile of customer interactions. These begin with an organization’s systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization’s customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.
1 Travel and Expense Management 2014, Technology Insight Report, © PayStream Advisors
© 2014 Kofax Limited. Kofax is a registered trademark and First Mile and Mobile Capture are trademarks of Kofax Limited.