Kofax RPA for Accounts Payable

Kofax Robotic Process Automation (RPA), also known as Kapow, is an easy-to-use platform that allows you to quickly set up software robots to replace manual tasks, decisions, and activities. When applied in Accounts Payable, Kofax RPA can automate manual tasks and processes around new vendor setup, invoice exceptions, and payment processing. Accounts Payable Automation with Kofax RPA reduces costs, delays, and errors.

Quinn Huntsman:

Well hello everyone. Welcome to another Webinar Wednesday with RPI Consultants. Today we are going to be discussing accounts payable automation with Kofax RPA, which stands for robotic process automation, formerly known as Kapow, and how it can extend beyond your typical invoice processing solution.

A few housekeeping items here before we get started. First, I want to let you know that this presentation will be recorded and posted online. Additionally, there will be an opportunity later on in the presentation for you to ask questions, so if you do have questions or any future webinar ideas, be sure to let us know at that time.

So before we get started, to tell you a little bit about ourselves, my name is Quinn Huntsman. I’m a business analyst here on the CPA team here in Kansas City, Missouri. I have a background in administration and troubleshooting for perceptive content and the other products that come along with that from Hyland as well as I am a certified technical solutions specialist for Kofax’s RPA product that we’ll be talking about today. For a fun fact about me, I’m a huge Queen fan.

Bryant Bell:

Great, thanks Quinn. My name is Bryant Bell, and I am the Senior Director of Product Marketing at Kofax. I have about 20 years of enterprise content and data product marketing and management experience. I’ve worked at companies such as EMC, Adobe, Documentum, and also OpenText. Now I work at Kofax.

Some of the areas that I’ve had concentration with in my career are governance risk and compliance, legal, document automation, machine learning and predictive analytics. And a fun fact about myself is that I have actually sailed a sailboat to Cuba, and I actually did that on purpose, and it was a fantastic, fantastic trip. So thank you, Quinn.

Quinn Huntsman:

All right, on the agenda today, to get started, we’re going to tell you about Kofax, about RPI Consultants, then we’ll get into the bulk of the presentation to discuss accounts payable automation for invoice processing, and then get a big more granular in how RPA can apply to that. Once we’re done with all of that, there will be an opportunity for you to ask questions and then a summary.

Bryant Bell:

Okay. Great. So, a little bit about Kofax. Some of you have heard of us, some of you may not have, but just to give you a little bit of history about Kofax. Kofax as a software company has been around for over 25 years, and we really started in imaging and data capture. It goes back to our name. There’s fax in the name and that goes back 25 years or more but we have evolved in the last 25 years to really be a software and solutions company that is really looking at how we can help companies transform their business.

We have evolved our capture and imaging into what we call Cognitive Capture and that’s really adding in tools that go past just imaging and tools such as machine learning, that allow the capture technology to actually recognize those types of documents, classify them, and then also pull information out of them. We’ve also had and have for a long time had the ability to do mobile capture. The ability to use our technology to capture checks, capture invoices with a smartphone or really any digital capture device. We also have advanced analytics that we provide and we also have process orchestration which is a product that we call Kofax TotalAgility.

In process orchestration is really process automation for long term or very complex processes. What we’re going to be talking about today is going to be robotic process automation and that’s another area that we provide. But if you look at all these four areas, I mean five, areas of competency that Kofax provides, we re