Payment PlatformKofax AP Agility Digitally Transforms Accounts Payable Processes

Next-Generation Accounts Payable Automation Solution Enables Resiliency and Agility
FTB News Desk FTB News DeskApril 14, 20216 min

Kofax®, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces the latest version of Kofax AP Agility®, a world-class artificial intelligence (AI) powered solution providing organisations with the most comprehensive capabilities in the market to digitally transform accounts payable processes.

AP Agility provides robust document intelligence to unlock critical data within AP processes, workflow capabilities for managing inconsistencies and collaboration, and pre-built connectors that accelerate integration of Kofax software with procure-to-pay, financial accounting and ERP systems. Innovations in the latest release include support for new invoice formats, extended document intelligence capabilities, workflows, and expanded out-of-the-box integration to leading ERP systems such as SAP S/4HANA Cloud ES. In a market where agility is a competitive advantage, Kofax now also provides organisations with on-premises or SaaS deployment options.

“We see forward-leaning business leaders leverage automation to streamline time- and resource-intensive AP processes, and also as part of a broader enterprise focus on leveraging real-time data and intelligence to improve decision making,” says Kathleen Delaney, Chief Marketing Officer at Kofax. “AP Agility extends far beyond a transactional accounts payable automation solution; it provides data that supports business leaders in their efforts to enhance business continuity, improve cash management, and increase profitability.”

Today’s release of Kofax AP Agility includes capabilities such as:

  • Pre-Built ERP Connectors.New integration with SAP S/4HANA Cloud reduces time-to-value and reflects Kofax’s commitment to providing broad and deep coverage to commonly used best-of-breed systems. Kofax AP Agility now connects to ERP platforms from SAP, Oracle, Microsoft and Infor.
  • AP Document Intelligence. With the ability to recognise additional international invoice formats out-of-the-box, customers can now capture, digitise and extract key data from documents in any format via any channel in 30+ languages with purpose-built Al.
  • Exception and Approval Workflows. Kofax AP Agility includes powerful workflows for validation, matching, resolving inconsistencies, coding and approval of invoices. Users can also develop custom workflows based on organisational needs and policy.
  • Cloud Choice.Customers can flexibly deploy AP Agility on premise or their own private cloud, or as a SaaS offering. AP Agility Cloud simplifies and accelerates digital transformation journeys by streamlining automation implementations, operations, security and management without the hassle or added costs of IT infrastructure.

“The emergence of innovative AP automation technologies in recent years is radically altering the way business is done,” says Vansh Kukreja, Project Lead – Automation/AI at Zinnov. “As enterprises intensify their focus on optimising internal processes, we continue to see accelerated adoption of solutions—like AP Agility—that position accounts payable to move beyond a transactional past and showcase greater strategic value. Best-in-class organisations are already taking advantage of AP automation to process invoices 2.5 times faster, reduce invoice exception rates by 50 percent, and harness data to inform critical business decisions.”

Join us for the Kofax-Forrester webinar, Forged by Innovation: The New AP Function of the Future April 21 to learn about the evolving role of accounts payable and why it is a top priority for CFOs. Please also join us at the Kofax Accelerate two-day virtual conference in May to learn how Kofax solutions accelerate digital transformation journeys.

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FTB News Desk

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