Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, announced a significant contract extension with a leading business process outsource (BPO) company in Australia. The value of the contract to Kofax is approximately $240,000.
To meet growing customer demand, the BPO will expand its use of Kofax Capture and Kofax VirtualReScan software to add six million images per year to its already large volume of documents captured and processed for its customers located throughout Australia. The firm was recently awarded a major contract with a leading health insurance provider in the country, and will leverage Kofax solutions to capture, classify and extract data from more than ten million invoices, claim forms, mail and related insurance documents the insurer receives annually. By expanding its use of Kofax software, the BPO will be able to meet the growing needs of its customers to streamline manual operations and reduce costs.
"Healthcare is a document and data intensive industry, and BPOs require solutions to help their clients reduce paper burdens, drive down business costs and concurrently meet privacy and regulatory requirements," said Alan Kerr, Kofax’s Executive Vice President of Field Operations. "Automating high volume, paper intensive medical insurance processing improves productivity and generates quicker return on investments for both BPOs and their clients, enabling healthcare providers and insurance organizations to focus on enhancing patient care and improving service."
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