Kofax Solutions for Accounts Payable

Learn how to utilize Kofax Capture, Kofax Transformation Module, and Kofax Total Agility to transform your AP process from manual data entry to automated data entry through the use of the most advanced OCR technology. All of this integrated with Perceptive Content or your ERP for a smooth AP process.

Geoff:
Hey good morning or afternoon depending on where you are. This is Geoff Lilienfeld with RPI Consultants. I am one of the partners at RPI and also manage our Imaging, Strategy and Technical Services practice. That is primarily consisting of Perceptive Content, Perceptive Intelligent Capture, as well as Kofax, KTM, Kofax Capture and soon to be Kofax Total Agility. With me is Mike Friel. Mike Friel is a Kofax KTM, KTA and Capture expert as well that we work with, with quite a few engagements. Just to give you a little bit of an overview as to what it is we’ll be doing here, we’re going to talk a about Kofax and how it relates accounts payable. Then we’re going to jump into a live demo that Mike is going to perform. Quick background on RPI, we got our start back in 1999 as experts in the procure to pay lifecycle space. As it stands currently, RPI is kind of focused into two groups. One group being Lawson. There’s about 60 to 65 Lawson consultants. The second group is the one I manage which is that Imaging Strategy and Technical Services.

Again, Perceptive Kofax. We’ve been working with Perceptive for 16 years now and Lawson for 12 years. Again, start being AP shared service centers but of course the imaging space has evolved quite a bit. With our focus on imaging, we really focus on two things. Or two core fields. One being the actual content, that’s where Perceptive Content/ImageNow comes into play. The second being Intelligent Capture. That’s the OCR piece that we’re going to be talking about today. The two main players in this space, there’s Perceptive Intelligent Capture and Kofax KTM. Depending on your various business needs, each one has a role and a good time to leverage them. Perceptive Intelligent Capture is highly customizable and requires or can have a lot of custom backend coding. For extremely complex projects, Perceptive Intelligent Capture can be a great fit. Kofax KTM is a great solution for processing forms and invoices, structured data as well as invoices. It comes with a great user interface and is very easy to train and to just keep up and running and learning invoices. We’ll show you that.

There’s a few benefits of going into AP automation. Of course, when we think about OCR, one of the main things that we think about is data entry. Not having to manually key in a whole ton of data. Once we get things from OCR, we can get into an approval workflow. Rather than having to carry invoices all over the place, we can actually have invoices automatically route to the appropriate approvers. Be approved with a couple of clicks, and we know that the right people are approving every invoice. It also creates a nice audit trail. One of the things we look for especially looking over approvals is [inaudible 00:04:09].

Mike:
Geoff, I think we lost your audio.

Geoff:
I will switch over. Is that better?

Mike:
Much better.

Geoff:
Okay. One of the things that we can look for also is that straight through processing. We look for a three way match. Once we have that three way match, then we know okay, we don’t need to further look at this and we can cut the check and save a whole bunch of time there. Of course, there’s also taking advantage of payment terms so that we can get those discounts as well as the ability to retrieve documents easily later on. Keeping in mind that we can match documents together. If we have an