Kofax New Intelligent Automation Platform and Marketplace
Kofax Launches Intelligent Automation Software Platform and Marketplace to Advance Future-Of-Work Initiatives for Hyper-Connected Enterprises Industry’s First Integrated, AI-Enabled Platform Ecosystem Automates End-To-End Business Operations at Scale
Kofax, a leading supplier of Intelligent Automation software to digitally transform end-to-end business operations, announced it has launched the industry’s first Intelligent Automation platform and marketplace, advancing future-of-work initiatives for hyper-connected enterprises. The AI-enabled platform and marketplace ecosystem automate end-to-end business operations at scale – allowing digitally transformed organizations to harness automation to make customer, supplier and employee interactions more productive and gratifying.
“Mitsubishi UFJ Financial Group’s (MUFG) Center of Excellence is leading intelligent automation efforts and driving digital transformation throughout our bank. We’ve empowered our business units to propose automation opportunities, and their daily workloads have been reduced significantly. Our employees are happier, more satisfied, and empowered all due to automation,” said Yoshiaki Nishita, Digital Transformation Division Director at MUFG. “Kofax’s Intelligent Automation platform has driven excitement, and more energy around further adoption and expansion of the program. In addition, our employee mindset is changing as well. They’re no longer concerned automation will replace them. They see it as an extension of themselves. Ultimately it’s become a fundamental shift in their thinking.”
In today’s digital ecosystem, the inability to fully integrate automation technology hinders the digital transformation ambitions of many organizations. Kofax solves this dilemma with an integrated AI-powered Intelligent Automation software platform that uses machine learning to transform unstructured and structured data into actionable information and insights. The platform’s embedded artificial intelligence enables automatic recognition of people and documents, an understanding of content within communications, and access of knowledge centers for better decision making.
“Kofax’s platform-centric approach to deliver interoperable Intelligent Automation technologies on one platform eliminates the friction and cost of managing multiple vendor technologies, procurements and vendor relationships,” said Chris Huff, Chief Strategy Officer at Kofax. “This accelerates time-to-value, increases ROI and lowers total cost of ownership of digital transformation initiatives.”
Specifically, the Kofax Intelligent Automation platform’s five key technologies include:
● Robotic Process Automation (RPA), to reliably automate routine, repetitive tasks
● Cognitive Capture, to ingest and understand any document and its information via any channel and format
● Process Orchestration, to drive successful outcomes by orchestrating multiple actions, people, software robots, policies and systems
● Advanced Analytics, to provide visibility, process intelligence and insight to customers, employees, robots and business partners
● Mobility and Engagement, to communicate and transact in efficient, effective and trusted ways with e-signature, facial recognition, multi-function printers and devices as well as on-demand communications
“Very few enterprises have industrialized their automation initiatives,” said Saurabh Gupta, Chief Strategy Officer at HFS Research. “Nearly 90 percent of these organizations want to get there in the next two to three years. Kofax has taken this opportunity head on with its Intelligent Automation platform strategy, which promises to address this industrialization.”
Kofax Introduces Free Intelligent Automation ‘Starter Pack’
Existing Kofax RPA, Kofax Capture and Kofax TotalAgility customers can register to receive a free Intelligent Automation “Starter Pack,” consisting of production licenses of Kofax RPA, process orchestration, cognitive capture, analytics, communications generation and e-signature products. The Starter Pack allows customers to test drive the Intelligent Automation platform and map their automation journey. This extends the value of their current investment in Kofax solutions with access to complementary technologies, helping them discover the potential of Intelligent Automation to transform information-intensive business operations – such as new customer onboarding, claims processing, financial process automation and more.
“If digital transformation’s the destination, companies have to be prepared for the journey –
intelligently automating end-to-end business operations at scale,” Huff added. “The Kofax Intelligent Automation platform eliminates the pain that can accompany this process, while delivering on the promise of digital transformation – helping organizations work like tomorrow – today.”
Kofax Marketplace Ecosystem Connects Companies with Pre-Built, Integrated Solutions
Launching in Q3 2019, Kofax’s marketplace ecosystem helps companies customize their automation journeys through a broad selection of solutions built on top of Kofax’s Intelligent Automation platform. The Kofax marketplace provides a venue for Kofax’s 20,000+ customers and global community of more than 650 business partners to develop pre-built, best-in-class, low-code RPA robots, connectors and solutions harnessing Kofax Intelligent Automation platform’s open architecture.
A small sampling of Kofax marketplace solutions include:
● A Kofax connector allowing customers to digitize handwriting as needed along a broader workflow using the Google Cloud Vision product
● A Kofax integration with Microsoft Bot Framework that includes pre-configured industry/vertical conversational AI use cases
● A Kofax connector enabling customers to route digitized information to Box folders based on Kofax AI-powered document classification capabilities.
“We’ve been delivering Kofax platform solutions to enterprise customers globally for 7+ years and are excited about the deliberate focus on a unified platform of capabilities moving forward,” said Carlos Latourrette, CEO at Latourrette Consulting. “We believe strongly in the marketplace and will be positioning a conversational AI + Kofax solution within it. We’ve had several customers ask for this integration and the marketplace will allow an even broader audience to learn about it, leverage it, and extend the Kofax Intelligent Automation platform with conversational AI.”