INNOVATION: Kofax Broadens Its Software Platform With Goal of Easing Transition to Digital
In today’s digital ecosystem, the challenges of fully making things autonomous can slow down the digital transformation that many organizations desire.
A company has launched an innovative platform to broaden its offerings to its enterprise customers regarding tasks that can be automated.
Kofax, with HQ in Irvine, launched an “intelligent automation” software platform
The AI-enabled platform automates end-to-end business operations at scale for those companies that have made the transition to digital.
The new platform broadens Kofax’s software capabilities.
This is “the culmination of a long term strategy we’ve pursued to extend beyond just “capture” – the legacy of our past – to providing more comprehensive, higher value solutions capable of better addressing our enterprise customers’ broader automation requirements – our vision for the future,” CEO Reynolds Bish told OC Startups Now.
That’s been accomplished through internal product development, as well as more than eight acquisitions to augment those efforts, Bish added.
The acquisition of Nuance Document Imaging in February was the most recent acquisition.
“Achieving (all) this has required foresight, perseverance and significant financial resources…and uniquely positions us to help our customers digitally transform their businesses to ‘work like tomorrow, today,” Bish said.
Kofax uses machine learning, a subset of AI, to change unstructured and structured data into information and insights.
The platform’s embedded AI enables automatic recognition of people and documents and an understanding of content within communications.
Specifically, Kofax’s 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
Kofax delivers its software through its direct sales and services organization and more than 650 indirect channel partners and integrators in more than 60 countries throughout the Americas, EMEA and Asia Pacific.
One of its clients is Mitsubishi UFJ Financial Group.