Lower Operating Costs Combined with Improved Cash Management and Vendor Relationships Drive ROI
Irvine, CA, December 20, 2017 – Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, today announced the successful deployment of a Kofax accounts payable automation solution at a top-selling global beverage company’s shared services center. The unit delivers finance, accounting, business process management and supply chain services to the business, processing approximately 360,000 invoices annually.
By consolidating systems and processes for 23 different accounting and finance departments into a single location and leveraging ReadSoft Process Director™, ReadSoft Supplier Portal™ and ReadSoft Web Portal for SAP environments, this organization realized significant increases in productivity, material cost savings, more efficient cash management and better vendor relationships through the digital transformation of its accounts payable processes.
- ReadSoft Process Director provides comprehensive multichannel capture, data extraction and perfection, adjudication and posting capabilities for all invoices entering the company’s SAP ERP system, applying standardized processes and more consistent, timely results.
- ReadSoft Supplier Portal allows the organization’s suppliers to submit and gain insight to the status of their invoices being processed.
- ReadSoft Web Portal provides the company’s internal teams with a comprehensive view of all invoices being processed and the automated workflows being executed, which prompt them to handle exceptions within the web portal.
“By implementing our solution, this global organization is able to do more with less, doubling productivity in the process,” said Reynolds C. Bish, Chief Executive Officer of Kofax. “And they’re creating a better experience for their vendors – a win-win brought about by the digital transformation of a once time consuming and expensive process.”
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Kofax is a leading provider of software to simplify and transform the First Mile™ of business. By capturing information and automating information-intensive processes, Kofax helps improve customer engagement, greatly reduce operating costs and increase competitiveness and profitability for more than 20,000 customers in financial services, insurance, government, healthcare, supply chain and other markets. Kofax delivers its information capture, robotic process automation, financial process automation and customer onboarding solutions through its direct sales and service organization, and a global network of more than 1,000 authorized partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific.