Kofax has announced a new release of Kofax Transformation Modules, which intelligently automates the classification, sorting and separation of paper and electronic documents, and then extracts and validates the accuracy of the information they contain.

Version 4.5 offers new invoice processing features and enhanced data validation capabilities in a single unified platform that increase ease of use and application flexibility.

“Kofax Transformation Modules 4.5 reflects our ongoing commitment to invest heavily in document driven business process automation applications such as invoice processing,” said Jim Nicol, Executive Vice President of Products at Kofax.

“This release significantly strengthens our solution, enabling organisations to process invoices more quickly, with increased accuracy and at lower costs. The new version is also consistent with our strategic focus to provide customers access to the most robust document driven business process automation solutions through one unified platform that are easy to deploy and use, even in the most complex distributed environments.”

Kofax Transformation Modules 4.5 include new features that simplify the process of identifying and extracting invoice information such as supplier details and line item data such as unit price, total price, discounts and applicable taxes.

This release also supports automatic matching with purchase orders, reducing the need for manual reviews and accelerating approval processes, which significantly reduces invoice processing times and enables accounts payable staff to focus on more complex exception handling tasks.

Version 4.5 offers thin client validation and verification capabilities that eliminate the need for local site software installations or downloads in distributed environments. This enables data validation tasks to be more easily distributed over multiple remote locations and administered in a less costly manner.