Kofax has announced a new release of Kofax AP Agility, a smart process application (SPA) built on the Kofax TotalAgility platform. This release adds best practice accounting processes and advanced analytics capabilities.

AP Agility’s advanced analytics enable business users to easily assess the effectiveness of their accounts payable processes, measure staff productivity levels, view the status of invoices being processed and assess spend management. Users can also view available discounts and late payments, assess supplier activity, invoice volumes and expenditures and identify duplicate invoices and approval violations.

AP Agility features a comprehensive range of best practice accounts payable capabilities for addressing customer requirements:

1. Accepts invoices in a variety of formats, including paper, electronic invoices, faxes, emails, web portal submissions and XML and EDI data streams
2. Extracts business critical invoice data and validates it against ERP system data
3. Provides configurable matching rules to reconcile the inevitable exceptions that occur between invoices, purchase orders and receipts
4. Includes a pre-built framework to integrate with any on premise or cloud based accounting or ERP system while offering out-of-the-box integration with Microsoft Dynamics AX

With the Microsoft Azure hosted SaaS cloud offering, users are now able to:

1. Deploy the solution without purchasing, installing, configuring or maintaining hardware or software
2. Meet line of business objectives through operating rather than capital expenditure budgets
3. Protect sensitive information and ensure business continuity using Microsoft Azure's cloud infrastructure and its secure and scalable environment

According to strategic consulting firm The Hackett Group, organizations with high levels of AP automation save 39% of invoice processing costs and enjoy 15-20% faster processing times compared to peer groups that use manual processes.1

Grant Johnson, Kofax’s Chief Marketing Officer, stated, “AP Agility is a compelling solution that addresses the end-to-end procure-to-pay process, giving chief financial and procurement officers the much needed visibility and insight necessary to better control their company’s spend. The cloud-based offering provides the added benefits of faster deployment without capital expenditures.“