Kofax®, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces it ranked No. 1 in IDC’s Worldwide Capture Applications Market Shares, 2019: Continued Transition to Cloud Services (Doc # US45393420, June 2020) report. This ranking is significant as capture is essential to convert structured and unstructured information into actionable data and key to successful digital workflow transformation.
“The ongoing development and scaling of digital transformation initiatives have been key factors in driving the renewed importance of capture technologies. Digital transformation initiatives have taken capture applications to the front office,” says Holly Muscolino, Research Vice President, Content and Process Strategies and the Future of Work at IDC. “Organizations seeking to digitally transform must be able to seamlessly capture structured and unstructured institutional data. Kofax’s dominant market share in the capture space, combined with its integrated automation approach, translates to a strong offering for organizations seeking to accelerate their automation journeys.”
The IDC study reports vendor market shares for capture in 2019. Of the $1.1 billion worldwide 2019 capture market, Kofax commanded a 33 percent share, more than twice that of any vendor within the space.
Capture is a well-known category but its importance has escalated as digital transformation initiatives accelerate the need to automate content-centric tasks and business processes. Examples include new account openings, invoice processing and accounts payable automation, citizen benefit enrollments, new employee onboarding, patient admissions and many other applications.
Kofax’s suite of low-code intelligent applications, advanced artificial intelligence, and robotic process automation (RPA) uniquely allows business users to deploy capture in the front or back office. With embedded natural language processing (NLP) and machine learning (ML) algorithms, customers can obtain document intelligence across front and back office workflows, without the need for complex coding or third-party solutions.
“Being ranked #1 in WW 2019 Capture market share in the IDC report comes at a particularly important time, as organizations globally are laser focused on digitally transforming mission-critical finance, customer and operational workflows to create elevated experiences for customers,” says Chris Huff, Chief Strategy Officer at Kofax. “Only Kofax combines a suite of low-code intelligent applications, advanced Artificial Intelligence and RPA for organizations to drive efficiency, growth and business resiliency.”
Kofax enables organizations to Work Like Tomorrow™—today. Kofax’s Intelligent Automation software platform helps organizations transform information-intensive business processes, reduce manual work and errors, minimize costs, and improve customer engagement. We combine RPA, cognitive capture, process orchestration, mobility and engagement, and analytics to ease implementations and deliver dramatic results that mitigate compliance risk and increase competitiveness, growth and profitability. For more information, visit kofax.com.
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