Smart process applications (SPAs) provider Kofax Ltd. has launched AP Agility, cloud-based accounts payable automation software. Available as a multi-tenant or dedicated Microsoft (MSFT) Azure hosted software-as-a-service (SaaS) subscription solution, AP Agility is built on the TotalAgility Cloud platform and is designed to help businesses streamline their end-to-end accounts payable operations.
"AP Agility is a compelling solution that addresses the end-to-end procure-to-pay process, giving chief financial and procurement officers the much needed visibility and insight necessary to better control their company's spend," Grant Johnson, Kofax's chief marketing officer, said in a prepared statement.
According to Kofax, AP Agility provides accounts payable analytics, and AP Agility users can:
- Accept invoices in numerous formats
- Assess expenditures, invoices and supplier activities
- Extract business critical invoice data and validate it against enterprise resource planning (ERP) system data
- Identify approval violations and duplicate invoices
- View available discounts and late payments
In addition, the AP Agility Microsoft Azure hosted SaaS cloud solution enables Kofax customers to:
- Deploy the solution without purchasing, installing, configuring or maintaining hardware or software
- Meet business objectives through operating budgets instead of capital expenditures
- Protect sensitive information and ensure business continuity
Strategic consulting firm The Hackett Group points out accounts payable automation can help businesses save time and money. Vin Kumar, associate principal of The Hackett Group's global business services practice, said he believes solutions like AP Agility can help businesses integrate analytics into their everyday operations.
"By capturing the benefits of analytics - from driving improved productivity through the on-time payment of invoices to the removal of bottlenecks and the ability to manage cash better - companies can gain an edge over their peers. Cloud-based solutions provide companies the flexibility to implement a solution that is scalable with a variable cost structure and to convert the investment into an operating expense," Kumar said, according to a press release.