Vinade Reminder Notification

Much like the rest of the world, nowadays businesses in the Gulf region are under constant pressure to streamline their businesses and operate faster, reliably and more cost efficiently. The key to success lies in the ability to efficiently process information found in thousands and sometimes millions of documents which enter and leave a company each year. Information needs to be processed internally and then managed in the normal course of business operations. Given the fact that this flood of information is often met with a lengthy and error-prone manual process, the enormous potential for optimization is evident. The following article highlights how critical the automation of business processes are and how global businesses, including Abu Dhabi Gas Industries Ltd, GASCO, have benefited from solutions offered by the market leader Kofax. Optimization - A dynamic and critical process Every company defines it's business process according to how its products and services will be developed, purchased or offered in order to then present them profitably in the market. To put it another way - business processes describe the core business and largely determine success or failure. The optimization of these processes therefore plays a critical part in the ability to compete: the more automated, cost effective and error-free processes are executed, the cheaper and higher the quality of the products and services offered. Not only are business end users satisfied, but so are all people and entities involved in the value added process. With companies finding themselves in a constantly changing environment, it is not enough to just analyze the business processes once and take appropriate optimization measures. Global businesses are being forced to adapt to changing market conditions such intensifying competition and increasingly sophisticated and mature end-users, who require fast information on product and service portfolios. Businesses need to adapt to these changing conditions to gain a competitive advantage which they then need to maintain and expand. Business process optimization is not a static but a dynamic process, and all possible solutions should not only be a resolution to a current challenge, but should also represent possible future scenarios. As every business process is based on information, available in numerous formats and diverse mediums, any approach to business process optimisation will have to deal with the central issue of: How can one - by deploying the least effort and adopting the safest, fastest and easiest way - provide all people involved in the value added process with real-time, relevant information? And how can one make sure of this for the future? In other words how can all incoming information, irrespective of format, ideally be processed so that all in-house staff (Management, Marketing, Sales, Services and Back office functions, in particular Accounting) and external entities (suppliers, contractors, auditors and clients) have access to the data they currently require? In this context, the manual way of processing is ineffective. It is far too slow, costly and error-prone. It is just not possible to react and act upon the ever more restrictive legal requirements regarding the traceability and transparency of all business information, or deliver prompt responses to customer feedback. It takes too long to process incoming invoices, especially if you consider the risk of losing out on cash discounts and the effect on supplier relationships. Just the screening and routing of incoming post means having to dedicate valuable resources, which could be used for much more efficient, value-added tasks. However being able to optimize the processing of information or the automation of business processes is made difficult by one thing: About 80% of all business-relevant information is by nature unstructured. E-mails, various paper documents, phone calls, faxes and a variety of file formats provide a real challenge in terms of effectively carrying out classification, collection and forwarding of the information contained therein. Criteria for Choosing a Solution The current market offers an attractive portfolio of solutions for capturing information and automating business processes. Prior to making a decision to invest, you should examine a number of issues and questions. This will ensure that you are guaranteed the desired future results: What about the integration into heterogeneous, possibly changing enterprise infrastructures and backend systems? Is the proposed solution fast, easy to use and simple to implement in the current business environment? Has the potential supplier demonstrated successful results with the proposed solution in comparable environments? Can the provider give references? Does the potential supplier have close partnerships with manufacturers of ERP, ECM and workflow solutions and hardware vendors? Can concrete statements be made regarding the expected return on investment? Will qualified on-site assistance be guaranteed in the implementation and follow-up? How high, depending on the application area, are the recognition rates on structured, semi-and unstructured documents? Can the future demand for high flexibility and scalability (such as rising volumes or new information channels and media) be ensured? Is the potential supplier able to offer the necessary software, hardware as well as support and service as a single one stop shop? The Solution: Kofax Intelligent Capture & Exchange Thousands of companies and organizations have found the answers to the above questions in the Intelligent Capture & Exchange portfolio offered by Kofax. Over its long history Kofax has been able to peg the spot as market leader by combining its unique technology, close partnerships with all major manufacturers in the business process automation field, and through a series of strategic acquisitions. Kofax has a worldwide network of authorized and certified partners and offers its products and solutions as a complete, scalable system. Kofax can provide you with solutions to suit your individual business needs. From classical batch capture to powerful end to end transactional capture models able to capture, route and manage documents regardless of structure or format. The Kofax Intelligent Capture & Exchange portfolio includes standard-and award-winning products such as: Kofax Capture, accelerates business processes by collecting documents and forms, transforming them into accurate, retrievable information, and delivering it all into your business applications and databases. VirtualReScan (VRS), (VRS) is the de facto standard for improving scanning productivity, reducing document preparation and producing perfect scans. Kofax Transformation Modules, automates the process of document classification and data extraction. Kofax Document Exchange Server is a document-driven business process automation solution that decreases the cost, time, and effort required to handle documents. Kofax e-Transactions enables you to process all incoming invoices, whether they arrive electronically or on paper, through the same powerful Kofax Capture solution. Kofax Express, a simple All-In-One solution to batch scanning. Makes it easy for anyone to scan, organize and store documents, at speeds that make short work of batches big and small. Kofax Communication Server coordinates and performs the automated exchange of information by integrating inbound and outbound communication channels, it links to any device such as MFPs, Telephone, E-Mail, Fax, SMS, MMS, Voicemail and Telex. Every organisation has its own specific business processes and industry regulations. That is why Intelligent Capture & Exchange solutions from Kofax adapt to the unique needs of each organisation to streamline and accelerate its document-driven business processes: from claims processing for an insurance company, to proof-of-delivery for a logistics firm, to new account opening for a bank, to case management for a government agency, to invoice processing for almost any organisation. With the help of Intelligent Capture & Exchange, distributed capture processing models can implemented in both centralised as well as at many remote site. The deployment possibilities can range to real time capture of information at the point of contact, for example the advice counters in a bank. Intelligent Capture & Exchange at Work The best example of how companies around the world are utilising Kofax Intelligent Capture & Exchange products, solutions and services to their benefit is to look at concrete case studies, which have brought enormous ROI. Abu Dhabi Gas Industries Ltd (GASCO), one of the largest Oil and Gas producers in Abu Dhabi is using Intelligent Capture & Exchange to automate the processing of incoming mail at their headquarters as well as at several remote sites. ING-DiBa, Europe's largest direct Bank, is deploying Kofax for processing mortgages. The mortgages department processes around 70,000 different documents daily and is therefore able to greatly reduce costs and minimise cycle processing times. This results in an annual growth of 100% with a constant personal strain. Swiss Post International, a global division of Swiss Post, has processed over 6 million transportation documents, bills of lading, customs documents, invoices and customer correspondence per year with Intelligent Capture & Exchange. NARA, the official authority for managing all U.S. federal government documents is using Kofax Intelligent Capture & Exchange to automate the processing of millions of important documents belonging to U.S. citizens. Dexia Insurance, one of the leading Belgium Insurance companies, is capturing insurance documents with the support of Kofax Document Exchange Server. These documents are then available directly into the branches and enables key workers to combine the captured information with real time transactional business processes. Visit www.kofax.com and view our extensive portfolio of Case Studies, from all industry segments. They give a detailed insight into the use of Intelligent Capture & Exchange. Below you will also find an independent study by Nucleus Research on the ROI of such a solution. Calculable ROI Nucleus Research examined a Kofax solution for automated invoice processing, which was implemented by Corporate Express U.S. Inc., one of the country's largest B2B Office Supplier. Corporate Express had reached their limits with using the traditional manual process. Nucleus calculated the costs of software, hardware, consulting, personnel, and training over a 3-year period to quantify Corporate Express' total investment in Kofax Intelligent Capture & Exchange and counter-calculated all direct and indirect savings, including increased productivity of accounts payable processors and coordinators. These benefits have been quantified and calculated using the average fully loaded cost of employees and multiplied by a productivity correction factor to account for the inefficient transfer of time. The result was an ROI of 99% and a payback within 1.27 years. One Stop Shop: Kofax EMEA As well as employing over 1200 highly trained staff, one of Kofax's main competitive strengths is its global network of authorised partners, better known as Certified Solution Providers. Aside from its core Software & Solutions Business, Kofax has two other main business pillars, which give the company a very unique market position. Kofax manufactures OEM/POS Software, which includes VirtualReScan (VRS), an application which improves the quality of scanned documents. VRS is available in either an OEM version bundled with leading manufacturers scanner models or can be purchased separately. Kofax is also the largest value-add distributor for scanners and storage solutions in the EMEA region. This tripartite business model and accompanying solutions, available from one single source proves to be a true recipe for success for customers and a truly secure investment for the future of Kofax. For further details visit: www.kofax.com. About Kofax: Kofax plc (LSE: KFX) is the leading provider of Intelligent Capture & Exchange solutions, providing application software and OEM/POS software worldwide as well as hardware distribution in Europe, the Middle East and Africa. For more than 20 years, Kofax has provided award-winning solutions that automate document-driven business processes by managing the capture, transformation and exchange of business-critical information arising in paper, fax and electronic formats in a more accurate, timely and cost-effective manner. Kofax solutions provide a verifiable return on investment to thousands of customers in financial services, manufacturing, retail, government, healthcare, business process outsourcing and other markets. Kofax delivers these solutions through a global network of more than 1,200 authorized partners, and its own sales and service organizations in more than 60 countries throughout the Americas, EMEA and Asia Pacific.