Prepress
170 Systems Announces Platinum Partner Status with Kofax
Monday 21. April 2008 - Company's End-to-End Financial Process Applications and Kofax's Intelligent Capture & Exchange Technology Adopted by Numerous Finance Organizations
170 Systems, a worldwide leader in automating finance processes, today announced that it has achieved Platinum Partner status with Kofax, a global leader of Intelligent Capture & Exchange solutions. The companies’ integrated solutions, comprising 170 MarkView Financial Suite for end-to-end financial process automation and Kofax Intelligent Capture & Exchange (which includes OCR technology), have been adopted by numerous organizations, including National Oilwell Varco, Black & Veatch, Exterran (formerly Hanover Compressor), Barrick Gold, JDSU, Citi and others. 170 Systems achieved Platinum status by implementing systems built to process more than 4.75 million pages in the last year.
170 Systems’ Platinum Partner status will enable the company to jointly develop marketing programs, product roadmaps, and to further optimize the manner in which the companies’ products work together.
“Integrating Kofax’s offering into 170 MarkView enables customers to leverage the benefits of OCR to manage invoice volume — which is still largely paper-based — and work with a single vendor to address the full spectrum of their invoice management challenges,” said Chris Scalia, 170 Systems’ Vice President of Professional Services and Strategic Partners. “Organizations looking for opportunities to reduce finance costs and improve efficiencies are deploying financial process automation solutions with their ERPs so that they can dedicate staff to more strategic projects, such as shared service centers and globalization initiatives.”
“In reaching Platinum Partner status in less than a year, 170 Systems has proven to be a valuable partner for Kofax and together our solutions are clearly addressing customers’ financial process automation needs,” said Mike Giove, Sr. Vice President, Americas Solutions Sales & Global Technology Sales of Kofax. “Since we first began working together, large firms processing hundreds of thousands of invoices annually have found Kofax’s Intelligent Capture & Exchange solutions with the 170 MarkView Financial Suite to be a winning combination.”
170 MarkView Financial Suite Integrated with Kofax’s OCR Technology
170 MarkView Financial Suite and the Kofax solution work together to handle organizations’ invoice volumes. 170 MarkView’s best practices specify centralized receipt of invoices, with scanning and ERP entry immediately upon receipt, followed by workflows for invoice review, discrepancy resolution, account coding and approval. With Kofax’s technology, Accounts Payable (AP) staff do not have to manually enter invoice data into the ERP system; after scanning, invoices enter the Kofax software, where the invoice data is extracted and, if the software detects any potential extraction errors, it flags them for review. The invoices then proceed through the standard 170 MarkView approval/exception management processes.