What’s New in Kofax ReadSoft Online?

Kofax ReadSoft Online is a cloud-based Accounts Payable automation solution that combines invoice capture, classification, data extraction and validation, and approval routing with built-in integration for most ERP and enterprise content management platforms. Built on Microsoft Cloud, implementations are generally quicker than on-premise solutions and do not require special IT infrastructure. ReadSoft Online standardizes processes across varied landscapes to reduce costs, minimize errors, boost productivity and improve supplier relations.

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Hello and welcome to another webinar. Wednesday. Today we are going to be talking about what’s new and Kofax ReadSoft Online, but before we do a few house cleaning items, first off, this webinar will be recorded and posted on our website and YouTube. We’re also going to send out a copy of this PowerPoint presentation to everyone that’s attended this meeting. If you have any questions during the presentation, please feel free to post those into the webinars screen to your right there and we’ll address those at the end.

And if you have any other ideas for future topics, we’d be happy to know. So other than that, let’s get started. So, we have a few other upcoming webinars that we want to make you guys aware of. We have one on Infor document management, IDM for CloudSuite that one…is going to be in December, December 11 and we’re also going to be talking about automation solutions for payroll. More specifically talking about how you can leverage different types of form technologies to kind of enhance and automate your payroll solutions. We have a few office hours coming up as well. We have one for perceptive experience coming up next week on November 15th and another one on ImageNow tasks in December that I’ll be presenting on.

So, getting started, a little bit about me. My name is Alex Lindsey. I’m a senior solutions architect here with RPI Consultants. I’ve been working with OCR and document management workflow technologies for over seven years, primarily with a focus in accounts payable and backend office processing. And I’m also a slightly, slightly bit of a master whiskey distiller. So, on our agenda today we’re going to basically do a little bit of an overview of Kofax ReadSoft Online.

We’ve got a previous presentation that we’ve done, just a generic one about ReadSoft Online and how it can kind of help you perform invoice processing a lot faster. But then we’re really going to jump into the new features that have come across more specifically in version 10.0 And some of the previous versions as well to kind of cover what’s new and what we find very exciting about the additions to ReadSoft Online. And then we’ll close it up with some summary and questions.

So first off, what is Kofax ReadSoft Online? It is an OCR platform and it is a SaaS-based cloud platform that allows you to process invoices very quickly. That’s kind of the high level, but when you really boil it down, it provides an end-to-end solution for you to basically manage your invoices from the point of capture to extracting data to validating that data, to send it through workflows and then to post to your accounting system or your ERP so you can pay your invoices faster.

There’s a lot of different ways to essentially capture your invoice documents. However, you’re doing it now, there’s a way for ReadSoft Online to kind of facilitate that. We like to use email quite a bit because it’s a more of a streamlined approach and you can tell your vendors to essentially just start emailing to one account and those invoices automatically go into the system to go through the OCR extraction process.

That extraction process essentially if you’re looking at a page, if you think about an ATM, when you put a check in and it reads that check and automatically knows what it is, that’s what ReadSoft Online is doing. So once that document gets over to the cloud environment, it’s g