Smart process applications provider Kofax announced this week that a global engineering firm chose to use various Kofax technologies to automate the capture and processing of invoices, as well as provide advanced analytics to monitor and meet internal key performance indicators (KPIs).
While the engineering firm was not named, it estimates it will achieve a 25 percent cost savings by not outsourcing, according to a Kofax release. Additionally, the business was able to provide invoice processing in-house, which helped manage and control costs. Moreover, the Kofax systems improved the quality and security of the data captured and reduced processing times.
“Outsourcing business processes such as accounts payable can be cost effective if the outsourcer is using a highly scalable, accurate and automated solution like we provide,” Howard Dratler, executive vice president of field operations at Kofax, said in a statement. “In this case, the customer found the benefits of using Kofax in-house far outweighed those of the outsourced service. The engineering firm, which has over 100,000 employees, is now looking to expand its Kofax solution with mobile expense claims capabilities.”
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