Kurzfassung: Software to Automate the Processing of Eight Million Documents Annually IRVINE, Calif.--(BUSINESS WIRE)-- Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, today announced it will provide TNK-BP, a ...

[Kofax - 22.02.2011] TNK-BP Selects Kofax’s Invoice Processing Solution


Software to Automate the Processing of Eight Million Documents Annually

IRVINE, Calif.--(BUSINESS WIRE)-- Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, today announced it will provide TNK-BP, a global oil company based in Russia, with an invoice processing solution. The value of the contract to Kofax exceeds $400,000.

TNK-BP, one of the top 10 privately held oil companies in the world in terms of crude oil production, will implement Kofax Capture, Kofax Transformation Modules and Kofax Front Office Server to scan and process approximately eight million invoices, contracts and other financial documents received annually at 20 corporate sites. By enabling TNK-BP to automatically classify these documents and process the invoices, the Kofax solution will help reduce costs, accelerate invoice approval and allow the company to take advantage of available payment terms. All documents will then be routed to a repository system for easy access by employees.

"Major natural resource and energy companies rely on a substantial amount of incoming documents from a wide variety of business partners to drive vital downstream business processes,” said Alan Kerr, Executive Vice President of Field Operations at Kofax. "By leveraging Kofax solutions, our customers are reducing costs while increasing efficiency and seeing a hard dollar, easily quantifiable return on investment in as little as 12 to 18 months.”

Kofax Capture accelerates business processes by scanning documents and forms, transforming them into accurate, retrievable digital information, and delivering the images and associated data into business process applications, databases and content management systems. Kofax Capture is flexible and scalable, enabling customers to define where and how documents are captured, whether in a home office, remote branch or data center.

Kofax Transformation Modules (KTM) automates document classification, information extraction and validation for large and medium enterprises facing manual, error prone or expensive process for managing large volumes of paper and electronic documents. Using intelligent recognition technology, KTM increases speed, reduces costs and increases visibility to accurately extract the most information from all types of documents and deliver rapid ROI.

Kofax Front Office Server extends existing Kofax Capture business processes to customer facing employees seeking to initiate transactions, workflows and capture processes at the earliest point of contact to leverage existing resources in remote or branch offices. This office automation solution reduces process latency and eliminates the time and cost of shipping documents to centralized processing centers.

About Kofax

Kofax plc (LSE: KFX) is the leading provider of document driven business process automation solutions. For more than 20 years, Kofax has provided award winning solutions that streamline the flow of information throughout an organization by managing the capture, transformation and exchange of business critical information arising in paper, fax and electronic formats in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in financial services, government, business process outsourcing, healthcare, supply chain and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 700 authorized partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit www.kofax.com.

"Kofax” is a registered trademark in the US, the EU and other regions. All other trademarks and registered trademarks are the property of their respective owners.


Contacts
Kofax plc
Investor Contact:
Jamie Arnold
Chief Financial Officer
+1 949-783-1473
jamie.arnold@kofax.com
or
Media Contact:
Rob Jensen
Senior Director, Corporate Communications
+1 949-783-1295
rob.jensen@kofax.com