Kofax Strengths, Domain Expertise, and Key Differentiators
Kofax is a supplier of software and solutions to automate and digitally transform human and information-intensive processes across front and back-office operations. These can dramatically improve customer engagement, greatly reduce operating costs, mitigate compliance risk and increase competitiveness, growth, and profitability. Its broad range of software and solutions can be deployed in the cloud or on-premise, and include robotic process automation, business process management, multichannel capture and other critically important capabilities.
Kofax Recent Developments
In May 2021, Kofax released the latest version of Kofax ControlSuite, a fully-integrated solution automating and securing world-class document capture, print management, and mobile capabilities. ControlSuite builds on Kofax’s market-leading content-aware capture and print management capabilities by unlocking content value, driving efficiency, and increasing productivity. A wide array of new capabilities and benefits include new cloud integrations, analytics dashboards, and new unified clients.
In June 2020, Kofax launched a new Trade Finance Solution. It is built on the Kofax Intelligent Automation platform accelerates end-to-end automation of trade finance workflows. The solution automates the processing of paper and electronic trade transaction documents, enabling banks and other financial institutions to improve efficiency, enhance compliance and reduce processing times.
In March 2020, updated Kofax ControlSuite. The updated solution provides seamless integration with Kofax TotalAgility, providing more comprehensive cognitive capture, transformation and process automation capabilities to ControlSuite users.
In May 2019, Kofax launched the industry's first Intelligent Automation platform and marketplace, advancing future-of-work initiatives for hyper-connected enterprises. The AI-enabled platform and marketplace ecosystem automate end-to-end business operations at scale allowing digitally transformed organizations to harness automation to make customer, supplier and employee interactions more productive and gratifying.
In May 2018, Fujitsu Limited and Kofax Japan have entered into a global sales partner agreement in Robotic Process Automation (RPA). This will enable the two companies to collaboratively conduct new market development activities. Fujitsu and Kofax are now offering RPA solutions in Japan, and will in the future steadily rollout globally. This partnership agreement allows Fujitsu and Kofax to collaboratively deploy Kapow RPA to support streamlined operations in various industries around the world.
Kofax Mergers and Acquisitions (M&A) Activities
In August 2021, Kofax acquired Printix.net ApS, a cloud-based SaaS print management software provider. Printix is a leading provider of cloud-based SaaS print management software that helps businesses of all sizes eliminate the need to install traditional on-premise print management software—with the related print servers—enabling the benefits of modern and secure print management functionality.
In June 2021, Kofax, a supplier of Intelligent Automation software for digital workflow transformation, acquired PSIGEN Software, Inc., a provider of document capture, content management and workflow automation software and solutions.
In February 2019, Kofax acquired Top Image Systems Ltd, a global innovator of on-premise and cloud-based applications that optimize content-driven business processes. TIS’ on-premise and cloud-based applications automatically capture, process and deliver content across enterprise applications, transforming information entering an organization into useful and accessible electronic data and delivering it, with minimal manual handling, to the relevant business system or person.
In November 2018, Kofax acquired Nuance Document Imaging (NDI), a division of Nuance Communications, Inc. NDI provides software to help organizations optimize their information-based capture and print processes from being labor-intensive, error-prone and costly, to becoming highly efficient, automated and secure. The company's products assist organizations in complying with information security policies and regulations, reducing risk and ensuring employees have complete control over documents and information.
Through the acquisition of Nuance's document imaging division, Kofax will drive customer value by adding key technologies, including cloud compatibility, scan-to-archive, scan-to-workflow, print management, and document security, to our end-to-end Intelligent Automation platform.
Kofax Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying 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 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 customers.
Kofax Overview
Ownership: - x
Number of Employees: 1900
Functional Markets: Analytics and BI, Collaboration, Content Management, CRM, EPM, ERP Financial, ERP Services and Operations Management, PPM, Procurement, SCM, PaaS,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K201, 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,
Kofax Key Enterprise and Cloud Applications
Kofax ControlSuite
Kofax Revenues, $M:
| Type/Year | 2020 | 2021 | 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.
Kofax Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Kofax Enterprise Applications Revenues By Functional Markets, $M:
Kofax Enterprise Applications Revenues By Verticals, $M:
Kofax Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Kofax Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Kofax Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Kofax Customers
No. of Kofax Customers: 25000
No. of Kofax Enterprise Applications Customers: 25000
No. of Kofax Cloud Customers: x
No. of Kofax Cloud Subscribers: x
Kofax software and solutions provide a rapid return on investment to more than 25,000 customers in financial services, insurance, government, supply chain, business process outsourcing, and other markets.
Among its customers are: Maine Medical Center, 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., and many others.
Kofax Market Opportunities, M&A and Geo Expansions
In 2020, Kofac launched AP Agility Cloud, a SaaS version of its accounts payable automation solution. Kofax AP Agility Cloud combines the power of AI-driven capture, three-way matching of invoices, purchase orders and receiving documents, approval and exception workflows, automated general ledger coding, and analytics – delivering all the benefits of AP Agility to accounts payable departments seeking a cloud-based solution.
Additionally, it launched TotalAgility Cloud, a SaaS version of its market-leading capture and automation solution. Kofax TotalAgility Cloud provides powerful cognitive capture as a service, automating capture from multiple channels and virtually all types of content.
In May 2019, Kofax launched the industry's first Intelligent Automation platform and marketplace, advancing future-of-work initiatives for hyper-connected enterprises. The AI-enabled platform and marketplace ecosystem automate end-to-end business operations at scale allowing digitally transformed organizations to harness automation to make customer, supplier and employee interactions more productive and gratifying.
Kofax, is a provider of software which simplifies and transforms the First Mile of business, recorded sales achievements for Kofax Kapow, its leading robotic process automation (RPA) software that mimics human actions to automate a wide range of manual, repetitive tasks and drive continuous improvement. With interest in RPA technology and demand for Kapow at an all-time high, Kofax has declared 2018 the Year of the Robot.
Furthermore, in August 2017, Kofax introduces advanced invoice processing solution to digitally transform accounts payable operations. IP Agility is an advanced invoice processing solution, built on the Kofax TotalAgility Platform, IP Agility dramatically improves productivity while reducing costs.
Kofax Risks and Challenges
Businesses automate just 25 to 40 percent of their workflow, and 88 percent of process mistakes are due to humans. The challenge is in creating the right mix of people and automation to drive productivity and identify improvements with process intelligence.
Kofax Ecosystem, Partners, Resellers and SI
In June 2020, Kofac partnered with Microsoft, to enhance cloud-based universal print solution with ControlSuite. When combined with Kofax ControlSuite, IT departments don’t need to dedicate time and resources to configure print servers and local devices, thus alleviating much of the print administration effort and expense.
In 2019, Kofax partnered with MetaSource, for success in helping clients achieve increased efficiency, growth and improved customer experience as a top reseller of Kofax intelligent automation solutions.
Kofax delivers its software and solutions through its direct sales and services organization and more than 650 indirect channel partners in more than 60 countries throughout the Americas, EMEA, and the Asia Pacific. Their direct sales and service employees focus their attention on large corporations and government entities, while their indirect channel allows us to better reach small and medium-sized organizations and departments of larger organizations. This hybrid go-to-market strategy allows them to penetrate a much broader portion of the market.
Kofax Cloud Infrastructure Insights
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- Kofax Public Cloud and Infrastructure (IaaS)
- Kofax Platform (PaaS)
- Kofax Application Delivery
- 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).
For additional information on our methodologies, here's the link:
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