Sales of MarkView for Accounts Payable Automation Continue to Grow with Increasing Momentum

IRVINE, Calif. -- (BUSINESS WIRE) -- Kofax plc (LSE: KFX), a leading provider of capture enabled business process management (BPM) solutions, today announced that sales of MarkView for Accounts Payable automation solutions continue to grow with increasing momentum, with contracts from multiple new customers exceeding $5 million in revenue.

Examples of recent MarkView for Accounts payable orders include:

• A major branch of North American government, which will be implementing MarkView for Accounts Payable, Kofax Capture, Kofax Transformation Modules and Kofax e-Transactions to automate the processing of approximately 500,000 invoices and other financial documents it receives annually. The Kofax solution will enable the customer to consolidate the processing of invoices taking place at 20 remote offices into a single shared services center. The value of the contract exceeds $800,000.
• A leading biopharmaceutical customer, who will be implementing MarkView for Accounts Payable to automate the processing of the 100,000 invoices and other financial documents it receives annually. With the Kofax solution, the customer replaces Saperion as its invoice processing solution, leveraging the ability to route data from each invoice to its Oracle EBS application for easy access by employees. The value of the contract exceeds $700,000.
• A leading provider of health insurance products and services in the United States, which will be implementing MarkView for Accounts Payable, Kofax Capture, Kofax Transformation Modules and Kofax e-Transactions to automate the processing of approximately 250,000 invoices, expense receipts, check requests, W-9 forms and other accounts payable related documents received annually, allowing the company to capture, classify and extract content to accelerate processing before routing the resulting digital information to an Oracle ERP application. The value of the contract exceeds $700,000.

“We continue to enjoy outstanding momentum with our MarkView product line,” said Martyn Christian, Chief Marketing Officer at Kofax. “The size and frequency of these contracts prove that customers are seeing the value of MarkView for Accounts Payable in accelerating invoice processing and delivering a measurable ROI to their organizations. As a comprehensive AP automation solution, MarkView for Accounts Payable reduces costs and errors, increases visibility and processing speeds, strengthens internal controls and optimizes cash management.”

MarkView for Accounts Payable is a comprehensive, capture enabled financial process automation solution for accounts payable automation. It automates the receipt and capture of paper and electronic invoices, performs data extraction and perfection and manages workflows for routing transactions through exception handling and approval processes, significantly reducing cycle times and costs while optimizing process control and cash management.

About Kofax

Kofax plc (LSE: KFX) is a leading provider of capture enabled business process management (BPM) solutions. For 25 years, Kofax has provided award winning solutions that manage the capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in banking, insurance, government, business process outsourcing and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 800 authorized partners in more than 70 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.