Kofax Expands Capabilities of World's First Smart Process Application Development and Deployment Platform
Kofax® Limited (NASDAQ: KFX), a leading provider of software to simplify and transform the First Mile™ of customer engagement, today announced the availability of Kofax TotalAgility® 7.2. TotalAgility 7.2 is a significant advancement of the company's flagship product, and now offers the digital transaction management (DTM) capabilities needed to eliminate traditional paper based, information intensive processes involving people and documents in favor of completing such transactions in a purely digital manner.
Eliminating manual, paper based signature processes and replacing them with a complete digital solution not only improves operational efficiency - it also enriches and transforms the customer experience.
For example, most bank residential mortgage operations manually process numerous paper based documents contained within each mortgage application. The loan packages are typically delivered to a central location where each page of every document is manually scanned, inspected and validated before further processing and approval can occur. Paper based disclosure documents are printed and mailed, and once a mortgage application has been approved, paper based closing documents are printed and provided to a notary for execution in a face-to-face signing ceremony.
Kofax TotalAgility 7.2 can be used to streamline document scanning in a highly distributed manner, automatically extract and validate the documents' content and then initiate and execute downstream processes to speed mortgage application approvals in a more timely, compliant and efficient manner. It can also generate and email electronic disclosure documents and, once the mortgage application has been approved, closing documents to be electronically signed and returned. This automates the entire mortgage application, approval and closing processes in a purely digital manner.
In addition, TotalAgility's process intelligence can provide a robust dashboard view into all operational areas to monitor employee and system performance, accuracy and costs, providing real-time, actionable information for more timely and better decision making. Process intelligence can also ensure compliance, reduce risk, eliminate potential bottlenecks and enhance efficiency. All of these capabilities are unified within the TotalAgility platform.
"Digital Transaction Management is a new category of business application that is focused on helping enterprises manage their transactions in a fully digital manner," said Jim Lundy of Aragon Research. "It isn't a matter of ‘if' enterprises will go digital, it is when. Harnessing DTM as an approach to manage internal and external transactions is what is needed."
Key highlights of Kofax TotalAgility 7.2 include:
"TotalAgility is a groundbreaking product that is now redefining the Digital Transaction Management space, delivering an unparalleled combination of capabilities that enable businesses to excel in executing all phases of a business process," said Dave Caldeira, Senior Vice President, Product & Solution Marketing for Kofax. "Ultimately, this enables organizations to optimize customer engagement by providing an exceptional digital experience as well as the ability to continually streamline operations."
Kofax TotalAgility is the world's first smart process application development and deployment platform. TotalAgility provides an essential link between an organization's systems of engagement and systems of record to help increase responsiveness to customers, improve service levels and gain competitive advantage in order to better manage and grow businesses while greatly reducing operating costs.
Kofax is a leading provider of smart process applications to simplify and transform the First Mile™ of customer engagement. Success in the First Mile can dramatically improve the customer experience, greatly reduce operating costs and increase competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, supply chain, business process outsourcing and other markets. Kofax delivers these through its direct sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.