Kofax Delivers New Capabilities for Extracting Content from Unstructured Documents

  Kofax Delivers New Capabilities for Extracting Content from Unstructured
  Documents

    Software Drives Greater Automation for Information Intensive Business
                                  Processes

Transform 2013

Business Wire

IRVINE, Calif. -- March 12, 2013

Kofax® plc (LSE: KFX), a leading provider of smart process applications for
the business critical First Mile™ of customer interactions, today launched at
Transform 2013 Kofax Transformation Modules™ 6.0 (KTM). KTM 6.0 now offers a
comprehensive software solution for Touchless Processing™ that automatically
classifies, separates and extracts content from any document type, including
structured, semi-structured and unstructured documents, to drive even greater
automation for information intensive business processes.

KTM 6.0 delivers a new set of capabilities to automatically classify, separate
and extract content from unstructured documents such as contracts, leases and
other legal agreements, correspondence, medical reports and many others that
previously required knowledge workers laboriously review and manually key the
content to be extracted. The new capabilities allow 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. Organizations 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.

Shore Communications Research estimates that over $400 million is spent
annually in the financial services market simply to prepare unstructured
documents for back office applications. The healthcare industry is similarly
overwhelmed with unstructured documents, with the US Healthcare Index stating
that approximately 60 percent of the 1.2 billion clinical documents created
annually are in unstructured form, such as dictated notes or paper records.

“Traditional content extraction solutions are designed to automate the
processing of a narrow set of documents, forcing organizations 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 innovative new capabilities to simplify the labor
intensive task of collecting and organizing large volumes of unstructured
documents for training purposes, thus further minimizing setup and
configuration times. Organizations will benefit from the reduced time to
deployment, realizing lower total cost of ownership and a faster return on
investment.

“The design, configuration and deployment process for document transformation
solutions can be tedious, time consuming and often adds significant cost to a
project,” stated, Nuno Guerreiro, AP Director at Sonae, a Portuguese company
in the retail sector. “We needed capabilities and tools for an intuitive,
rapid, accurate project design, testing and deployment for processing
the1million documentswe receive on an annual basis.”

The new capabilities delivered in KTM 6.0 will enable organizations to develop
more document transformation applications in less time with lower upfront
investments, processing all types of documents for virtually any business
process. KTM 6.0 is ideal for organizations with applications or business
processes that require the accurate extraction of critical information from
large volumes and a variety of electronic or hard copy documents.

For additional information, please contact Kofax online or by phone at
+1-949-727-1733.

About Kofax

Kofax® plc (LSE: KFX) is a leading provider of innovative smart capture and
process automation software and solutions for the business critical First Mile
of customer interactions. These begin with an organization’s Systems of
Engagement, which generate real time, information intensive communications
from customers, and provide a fluid bridge to their Systems of Record, which
are typically large scale, rigid enterprise applications and repositories not
easily adapted to more contemporary technology. Success in the First Mile can
dramatically improve an organization’s customer experience and greatly reduce
operating costs, thus driving increased competitiveness, growth and
profitability. Kofax software and solutions provide a rapid return on
investment to more than 20,000 customers in banking, insurance, government,
healthcare, business process outsourcing and other markets. Kofax delivers
these through its own sales and service organization, and a global network of
more than 800 authorized partners in more than 75 countries throughout the
Americas, EMEA and Asia Pacific. For more information, visit kofax.com.

© 2013 Kofax, plc. “Kofax” is a registered trademark and “First Mile,”
"Touchless Processing," and “Kofax Transformation Modules” are trademarks of
Kofax, plc.

Contact:

Media Contact:
Kofax plc
Colleen Edwards
Vice President, Corporate Communications
+1-949-783-1582
colleen.edwards@kofax.com
or
Investor Contact:
MKR Group, Inc.
Charles Messman or Todd Kehrli
+1-323-468-2300
kfx@mkr-group.com
 
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