Kofax is efficient and beneficial
Anonymous | TrustRadius Reviewer
September 18, 2014

Kofax is efficient and beneficial

Score 9 out of 10
Vetted Review
Verified User
Review Source

Software Version

Kofax Capture

Modules Used

  • Accounts Payable, Accounts Receivable

Overall Satisfaction with Kofax

Kofax is used by all departments of the company. Accounts Payable, Accounts Receivable, and Contract Administration. By using Kofax, Accounts Payable is able to catalogue and sort all of checks and wire confirmations through different criteria and parameters. It can sort by vendor, by date, by type of document, and by source. At Accounts Receivable, it allows for quick and simple reconciliation of all bank deposits and it also recognizes payments by checks or wires from different clients and vendors. At contract administration, it is able to recognize through barcodes and through different algorithms where the documents belong depending on the type of document it has scanned.
  • Recognition of checks and it's backup
  • Recognition of bank deposit slip and checks that belong to that slip
  • Recognition of where a contract begins and where it ends
  • Improvement of number and date recognition in check stubs
  • Positive impact due to increased accounting efficiencies in filing AP and AR backup
  • Positive impact if company gets audited, as all files are easily retrievable based on criteria and filters
Kofax is quicker when searching mass amounts of documents and data. Any filters would bring up immediate information, whereas in Access the database is slower.
Cost of Kofax is high, however the cost to benefit scenarios always pay off.
Kofax is well suited for cataloguing massive amounts of paperwork from accounting and being able to filter it and place it in databases.