Tungsten Automation (formerly Kofax) Strengths, Domain Expertise, and Key Differentiators
In early 2024, subsequent to the integration of Tungsten, Kofax underwent a rebranding initiative, now operating under the name Tungsten Automation. This updated nomenclature encapsulates the essence of its workflow automation software: resilient, dependable, and meticulously crafted to pioneer unprecedented innovation. This repositioning signifies its transition from a trailblazer in document capture to a globally recognized provider of intelligent, AI-driven workflow automation solutions.
This redefined identity further amplifies its Intelligent Document Processing (IDP) capabilities, enriching its suite of solutions, particularly in the realms of traditional invoice processing, e-invoicing, automated accounts payable processes, serverless print management, and document productivity.
Tungsten Automation (formerly Kofax) Recent Developments
In February 2024, Tungsten Automation introduced TotalAgility 8, the latest iteration of its flagship platform. This cutting-edge release incorporates new AI enhancements designed to empower organizations in achieving heightened agility and expedited returns on investment. These advancements fundamentally redefine approaches to solution development and customer engagement, concurrently bolstering back-office efficiency and fostering improved collaboration between humans and machines.
In February 2023, Kofax announced the latest iteration of TotalAgility—a sophisticated low-code Intelligent Automation Platform. TotalAgility 7.11 introduces several significant enhancements, including advanced Intelligent Document Processing (IDP), innovative low-code design features, and fortified DevSecOps capabilities. This latest release empowers businesses to effectively manage critical unstructured data, streamline automation adoption across developers and business users, and securely scale automation in cloud environments, particularly within distributed workforces. At the heart of the TotalAgility platform lies its AI-powered IDP technology, facilitating rapid extraction of unstructured data. TotalAgility revolutionizes content and data-centric workflows, servicing over 5 billion documents annually for organizations worldwide.
In May 2021, Kofax unveiled the latest iteration of Kofax ControlSuite—a fully integrated solution designed to automate and fortify document capture, print management, and mobile functionalities. ControlSuite amplifies Kofax's content-aware capture and print management capabilities, thereby unlocking the intrinsic value of content, heightening operational efficiency, and advancing overall productivity. Key enhancements include seamless cloud integrations, sophisticated analytics dashboards, and unified client experiences.
In June 2020, Kofax introduced its Trade Finance Solution on the Intelligent Automation platform, facilitating streamlined automation of end-to-end trade finance workflows. This innovative solution automates the processing of both physical and electronic trade transaction documents, empowering financial institutions to optimize efficiency, ensure regulatory compliance, and substantially reduce processing times. Furthermore, in March 2020, Kofax updated ControlSuite, seamlessly integrating it with Kofax TotalAgility. This enhanced integration furnishes ControlSuite users with comprehensive cognitive capture, transformation, and process automation capabilities.
Tungsten Automation (formerly Kofax) Mergers and Acquisitions (M&A) Activities
In June 2022, Kofax finalized its acquisition of Tungsten. This strategic union positions Kofax and Tungsten to deliver comprehensive support throughout various phases of organizations' e-Invoicing evolution. Leveraging their combined expertise, their cloud-based platform offers an array of solutions, including direct supplier onboarding, e-invoice exchange, interoperability, processing of scanned and OCR paper invoices, handling machine-readable PDF invoices, data extraction from PDFs, and facilitating payment processing.
In August 2021, Kofax successfully concluded the acquisition of Printix.net ApS, a leading provider of cloud-based SaaS print management software. Printix distinguishes itself through its innovative approach, empowering businesses of all sizes to circumvent the installation of traditional on-premise print management software and associated print servers. This enables organizations to access modern, secure print management functionalities without the burden of cumbersome infrastructure.
In June 2021, Kofax expanded its portfolio with the acquisition of PSIGEN Software, Inc. Specializing in document capture, content management, and workflow automation software and solutions, PSIGEN complements Kofax's offerings, further enhancing its capabilities in these domains.
Tungsten Automation (formerly Kofax) Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Tungsten Automation (formerly Kofax) applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Tungsten Automation (formerly Kofax) and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Kofax ControlSuite, Tungsten customers.
Tungsten Automation (formerly Kofax) Overview
15211 Laguna Canyon Rd
Irvine, CA, 92618-3146, United States
1 949-783-1000
https://www.tungstenautomation.com/
Ownership: - Thoma Bravo
Number of Employees: 2200
Functional Markets: Content Management, ERP Financial,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Tungsten Automation (formerly Kofax) Key Enterprise and Cloud Applications
Kofax ControlSuite, Tungsten
Tungsten Automation (formerly Kofax) Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Tungsten Automation (formerly Kofax) Revenue Breakdown By Type, $M:
Tungsten Automation (formerly Kofax) Enterprise Applications Revenues By Functional Markets, $M:
Tungsten Automation (formerly Kofax) Enterprise Applications Revenues By Verticals, $M:
Tungsten Automation (formerly Kofax) Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Tungsten Automation (formerly Kofax) Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Tungsten Automation (formerly Kofax) Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Tungsten Automation (formerly Kofax) Customers
No. of Tungsten Automation (formerly Kofax) Customers: 25000
No. of Tungsten Automation (formerly Kofax) Enterprise Applications Customers: 25000
No. of Tungsten Automation (formerly Kofax) Cloud Customers: x
No. of Tungsten Automation (formerly Kofax) Cloud Subscribers: x
The adoption of a new name also signifies its evolution into a globally recognized entity, with a workforce exceeding 2,200 professionals distributed across 32 countries. Furthermore, it maintains a robust global partner network committed to serving an extensive clientele exceeding 25,000 esteemed organizations across various sectors, including financial services, insurance, government, supply chain, business process outsourcing, and other industries. br> Notable among its clientele are esteemed organizations such as Maine Medical Center, Goldman Sachs, Anthem, Humana, Cummins, Kuehne + Nagel, ACS (Xerox), AEG, Ageas Insurance Limited, Alliander, Aqua America, Arkema Inc., Asante Health System, BNP Paribas, Banca Popolare di Milano, Bentall Kennedy, Bluebonnet Electric Cooperative, CHRISTUS Health, Capgemini Nederland B.V., alongside many others.
Tungsten Automation (formerly Kofax) Market Opportunities, M&A and Geo Expansions
Tungsten offers a comprehensive platform encompassing supplier onboarding, purchase order (PO) exchange, invoice processing, e-invoicing, compliance, and payment processing. Meanwhile, Kofax, through its invoice processing and Accounts Payable (AP) Automation portfolio, provides intelligent automation spanning over 40 country formats and more than 100 languages. This includes robust workflow capabilities and seamless integration with multiple Enterprise Resource Planning (ERP) systems, such as SAP, Oracle, Microsoft, and Infor. br> Together, Kofax and Tungsten are poised to assist organizations of varying maturity levels in their pursuit of true e-Invoicing. Leveraging a cloud-based platform, the integrated solution offers a suite of functionalities, including direct supplier onboarding, e-invoice exchange, interoperability, processing of scanned and OCR paper invoices, management of machine-readable PDF invoices, PDF data extraction, and payment processing. br> Tungsten boasts an impressive track record, handling invoices for 60 percent of the FTSE 100 and 68 percent of the Fortune 500 companies. It facilitates tax-compliant e-invoice submissions in 54 countries and processed transactions exceeding £220 billion last year alone. Notable clients include Caesars Entertainment, Computacenter, GlaxoSmithKline, Kraft Foods, Mohawk Industries, Mondelēz International, Procter & Gamble, Shaw Industries, Unilever, and the U.S. Federal Government.
Tungsten Automation (formerly Kofax) Risks and Challenges
The adoption of the name Tungsten Automation poses potential risks, including the loss of brand equity established by Kofax. Additionally, there is a risk of confusion among critical stakeholders, including clients, employees, and investors, potentially resulting in negative feedback from these groups. The challenge lies in navigating the resistance to change as individuals become accustomed to familiar brand identities in their interactions.
Tungsten Automation (formerly Kofax) Ecosystem, Partners, Resellers and SI
The Tungsten Automation Global Partner Program offers extensive cognitive capture, financial process automation, and digital transformation capabilities to partners worldwide. Within this partner ecosystem, participants provide cutting-edge solutions, services, support, hardware solutions, and the opportunity to embrace futuristic work methodologies today. With a network spanning over 90 countries, the Tungsten Automation Global Partner Program encompasses more than 850 partners.
Tungsten Automation (formerly Kofax) Cloud Infrastructure Insights
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- Tungsten Automation (formerly Kofax) Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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