CMiC Creates Interface to Kofax Document Capture Solutions to Enhance Invoice Processing Solutions for the Construction Industry
[USPRwire, Mon Mar 08 2010] CMiC, the leader in providing software solutions for the construction industry, today announced it has joined the Kofax Technology Alliance Program (TAP) to offer enhanced invoicing processing solutions for the construction industry. Kofax is the leading provider of document driven business process automation solutions and the Kofax Technology Alliance Program provides an opportunity for software and technology vendors to leverage Kofax export connector capabilities to create enhanced solutions for mutual customers worldwide.
The CMiC Real Time Integration Adapter for Kofax integrates with the extensible Kofax Capture platform allowing companies to easily scan documents, extract vital project information (such as invoice amount, number and date), validate data by exception in the system, perform Open Database Connectivity (ODBC) lookups to CMiC tables to assist in extraction and to verify extracted data, and export images and metadata to CMiC Imaging and Workflow which then verifies the import and routes the document to the appropriate parties for approval. Customers can optionally upgrade from the base recognition engine to Kofax Transformation Modules (KTM) for intelligent automation of classification and extraction. The integrated solution reduces the need to enter invoices and documents manually, enhancing the accounts payable process, reducing the amount of paperwork typically associated with a construction project and leading to a boost in productivity.
"The CMiC Real Time Integration Adapter for Kofax allows Power Construction to use best of breed," said Pat Kenney, CIO of Power Construction. Power has been using the CMiC Real Time Integration Adapter for Kofax for approximately two years and has experienced measurable benefits and ROI. "Power saw four immediate benefits: increased productivity, enhanced accounts payable process management, improved cash flow and improved corporate compliance. The total cost savings to process each invoice is approximately 30 percent, and at roughly $35 per invoice for manual processing, this savings translates to $12 per invoice and $200,000 annually."
"We believe that the CMiC Real Time Integration Adapter for Kofax changes the way invoices are processed in the construction industry," said Bassem Hamdy, Vice President, Solutions, CMiC. "Construction projects are plagued by large stacks of paper that can be misplaced and are inefficient to transport from job site to the head office. The CMiC Real Time Integration Adapter for Kofax drastically reduces the amount of paper needed on a job, which helps companies become more environmentally responsible, whilst also increasing productivity and enhancing efficiency. As with our other recent partnerships with leading technology providers, the CMiC Real Time Integration Adapter for Kofax demonstrates that CMiC v10 is the most open and technologically flexible software solution available for the construction industry."
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