Covering Disruptive Technology Powering Business in The Digital Age

Written by: Muhammad Zulhusni, Journalist, AOPG

Kofax Accelerate 2021 focuses on market trends, use-cases, best practices, customer success stories, and technology demonstrations that will help enterprises fast-track their intelligent automation journeys.

Kicking off the keynote session was Reynolds C. Bish, Chief Executive Officer, Kofax, who talked about the future of digital workflow transformation.

Before discussing how Kofax enables organisations to make the most of their intelligent automation, he wanted to reflect upon what has happened at the company over the past few years. Reynolds shared how Kofax has worked with various companies in the past and was able to overcome the challenges the company face to this day. Also, Kofax successfully launched a number of solutions and expanded its cooperative selling relationships with a variety of technology alliances in 2020. Kofax showed that they had a successful track record of affecting positive change and improving the profitability of businesses.

Going into 2021, Kofax has set its target to enable their customers to “work like tomorrow-today” by digitally transforming their information-intensive workflows. What does that mean? Digitally transform your high-value business workflows and eliminate manual business processes – being able to do things smarter, faster, better and cheaper.

And to do that, the Kofax intelligent platform harnesses 6 key capabilities to drive customers end-to-end digital workflow automation:

• Cognitive Capture: Convert unstructured data locked in documents into structured assets containing actionable information.
• Artificial Intelligence: Extend your workforce by applying cognitive services to think, act upon and interpret data.
• Task Automation: Deliver end-to-end automation of time-consuming routine, repetitive and manual tasks with RPA.
• Workflows: Digitally transform high-volume, rules-driven, repeatable workflows by automating processes.
• Ecosystem: Deploy a network of technologies and services that operate within an open, integrated architecture.
• Integrations: Eliminate complexity and time needed to build and support integrations to connected systems.

The talk on intelligent automation continued with a survey that Daniel showed, which Kofax conducted back in January 2021, reflecting on the shift to intelligent automation. And the result showed that 20% of the survey respondents found it extremely valuable, 47% found it very valuable, 32% found it valuable, while 1% found it not valuable.

There are many reasons why digital workflow transformation is becoming the future of intelligent automation:

• Intelligent Automation delivers a compelling ROI:
  • Lower costs, more accurate information, faster processing & improved compliance.
  • A single platform that provides a lower TCO/faster ROI.
• Digital workflow transformation provides additional important & timely benefits:
  • Supports highly distributed workforces. Enhances the customer experience.
  • And increases business resilience.

Also present at the conference was Chris Huff, Chief Strategy Officer, Kofax, who discussed further Kofax’s view of the future of work and how digital transformation is the future of our generation.

Since 2018, Kofax has shifted from focusing on physical documents (tangible asset handling) to digital documents (intangible asset handling). This has allowed Kofax to create a tremendous amount of value for their customers as they are able to digitally transform not just indigestive documents but the insight generation and the designing of workflows from those documents.

“What excites me more than anything is that our customers are using Kofax for new use-cases that they never thought that they would turn to Kofax to help them solve. Things such as customer onboarding requiring mobile ID and verification through facial recognition, data migration from legacy to a modern system requiring unattended robotic process automation and connecting ERP to CRM requiring digital workflows all the way to securing documents within a workflow that includes multi-function devices using ControlSuite,” explained Chris.

Closing out the keynote session, according to Chris, when it comes to measuring Kofax’s success, it’s all about “Are we helping our customers digitally transform?” not “Are we helping our customers automate tasks?”

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