Kofax has announced the launch of Kofax Transformation Modules (KTM)  6.0, an update to its solution to automatically classify, separate and extract content from documents such as contracts, leases, correspondence and application forms.

Designed to drive greater automation for information-intensive business processes,

KTM 6.0 offers the ability for users to "rubberband" the content to be extracted in a limited set of sample documents, and then use that knowledge and self-learning techniques that improve results over time to automatically locate and extract the desired information.

Using a lease as an example, this might include the lessor, lessee, execution date, start date, term, options to extend the lease, base rent, rent escalators, who is responsible for various maintenance and operating costs and other context dependent information. Organisations deploying KTM 6.0 can now automate the extraction of content that was previously only accessible through costly manual document review and data entry, and thereby gain greater visibility and control of this high value information.

“Traditional content extraction solutions are designed to automate the processing of a narrow set of documents, forcing organisations to deploy multiple point solutions, or accept substandard performance when processing other document types,” commented Martyn Christian, chief marketing officer at Kofax. 

“The new capabilities in Kofax Transformation Modules 6.0 were developed to specifically address a deep set of unmet business problems that demand document and information control and accuracy.”

KTM 6.0 also includes new capabilities to simplify the labour-intensive task of collecting and organising large volumes of unstructured documents for training purposes, thus further minimising setup and configuration times.