New Intelligent Automation Offering Provides Flexible Deployment and Licensing Options
Irvine, CA – Feb. 11, 2020 – Kofax®, a leading supplier of Intelligent Automation software to digitally transform end-to-end business operations, today announces its industry-leading accounts payable solution, AP Agility, is now available as a cloud-hosted SaaS offering. Kofax AP Agility Cloud™ combines the power of AI-driven capture, approval and exception workflows, automated general ledger coding, and analytics, delivering all the benefits of AP Agility to accounts payable departments seeking cloud-based solutions.
“Organizations are increasingly turning to Kofax and our market leading Intelligent Automation solutions to digitally transform their accounts payable finance operation,” says Reynolds C. Bish, Chief Executive Officer at Kofax. “By delivering AP automation as a service, AP Agility Cloud provides customers greater corporate agility as they strive to remain competitive and win out in a rapidly evolving business environment.”
Kofax AP Agility Cloud is purpose-built to help companies reduce costs, improve processing times, enhance compliance through automated controls and elevate data quality across the entire accounts payable landscape. Hosted on Microsoft Azure, which reduces the need for onsite IT infrastructure, customers launch and scale quickly. Customers also realize cost savings through lower initial startup and maintenance costs while giving secure access to users anywhere in the world from any desktop, tablet or smartphone.
According to Gartner, “by 2024, 60% of all new midsize core financial management application projects, and 30% of large and global ones, will be public cloud implementations.”
Many companies today suffer from the high cost of invoice processing and an inability to manage supplier relationships, payments, invoicing requirements, and business spend with suppliers. AP Agility Cloud addresses these challenges by meeting the needs of growing organizations with flexible deployment and licensing options – including perpetual or term, on-premise, private cloud or public cloud. Initially available in the United States, Kofax will be provisioning additional data centers in Europe and Asia Pacific this year.
AP Agility Cloud highlights include:
- Multichannel Invoice Processing Powered by AI-Driven Capture. AP Agility Cloud pulls invoice data from any source and lets users customize the specifications such as user interface, profiles, invoice formats and classification, and more. Advanced AI-driven capture takes the data far beyond basic OCR to recognize, identify and extract more text and data than any other capture solution.
- Comprehensive AP and ERP integrations. AP Agility Cloud supports market-leading ERP systems and payables environments, while also providing frameworks for fast and easy integration to any ERP platform organizations use.
- Fully extensible best practice workflows. Full invoice management, compliant processing and analytics for rich reporting on invoice processing, supplier performance, and business spend management.
- Ability to transform other financial processes. AP Agility Cloud is built on Kofax TotalAgility®, and part of the Kofax Intelligent Automation platform – a suite of capabilities enabling organizations to achieve enterprise-wide digital transformation, improve competitive agility and customer experience, and drive operational efficiencies. The platform offers a variety of capabilities, from cognitive capture and process orchestration to Robotic Process Automation, analytics, mobility and engagement.
1Gartner “Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises,” John Van Decker, et al, 13 May 2019