Kofax has provided Australian financial giant Suncorp with an enterprise capture solution worth over $A1.5 million.

The Suncorp group of companies offer a range of financial products and services in banking, general insurance, life insurance, superannuation and investment products across Australia and New Zealand. The Suncorp Group has around 16,000 employees and boasts over nine million customers.

In 2010 Suncorp implemented IBM’s FileNet platform for enterprise content management, and has now introduced Kofax capture to digitise loans processing. Other potential applications of document capture have been identified in human resources and invoice processing.

Suncorp is also utilising IBM Business Process Manager software.

The application went live in July 2011 to capture information from loan applications and deliver it to a FileNet-based workflow.

The digital transition will remove the need for as many as 5000 paper files to be handled by the loan processing staff at any one time.

“Whenever incoming documents drive business processes and transactions, companies can benefit from implementing a capture solution. Kofax software offers a unified enterprise capture platform that is highly reliable, secure and scalable,” said Martyn Christian, Chief Marketing Officer (CMO)  at Kofax.

“Reduced operating costs, increased productivity, accelerated business processes, better data quality and improved regulatory compliance efforts easily combine to provide a compelling, short term return on investment.”

Kofax Capture provides scan-to-archive capabilities by scanning documents and forms to create digital images, extracting index data for retrieval purposes and delivering the images and associated data to a variety of repositories and applications. Kofax Capture allows users to define where and how images are captured and indexed, whether in a home office, remote branch or back office data center.

Kofax Transformation Modules (KTM) adds document and form classification, page separation, challenging data extraction and validation capabilities to Kofax Capture and provides robust scan-to-process applications.

Kofax Virtual Rescan (VRS) is Kofax’s patented image enhancement and perfection software. VRS reduces the time involved in manual document preparation and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document capture processes. High quality images are critical as they can significantly impact the success of downstream data extraction and retrieval needs.