Kofax Announces ``Ascent for Payables'' Modules for Document and Data Capture; New Content Management Solutions Accelerate and Verify Invoice Processing.

Business Editors/High-Tech Writers

AIIM 2003

IRVINE, Calif.--(BUSINESS WIRE)--April 7, 2003

Kofax announced "Ascent for Payables," a family of three new advanced forms modules for its Ascent document and data capture platform.

Ascent for Payables reduces invoice processing costs, help organizations secure early payment discounts and automatically match purchase orders to invoices.

Ascent for Payables applies form recognition and data extraction tools designed specifically for efficient invoice capture and processing, including application-specific business rules and logic. Ascent for Payables will also integrate simultaneously with ERP applications for immediate image-enabled workflow and with archival and retrieval systems for secure accounting records.

Kofax will offer Ascent for Payables in three versions to tailor the accounts payable solution to each organization's unique needs:

Ascent for Payables: Image

This entry-level solution quickly, efficiently and accurately populates an archival and retrieval system with key index data and images. It automatically extracts a predefined index value and releases the index and image to an archival system.

Ascent for Payables: Process

The mid-range option can capture additional fields for indexing and payment, use business rules and logic to validate captured data and release simultaneously to archive and ERP systems, delivering images and data to the rest of the accounts payable process.

Ascent for Payables: Match

The top-of-the-line solution will automatically match invoices with purchase orders, eliminating labor-intensive manual matching. Ascent for Payables: Match will also extract an unlimited number of data fields and includes robust, API-level integration with ERP systems, giving an organization's accounts payable team immediate access to data and images.

"This is the latest example of the power and flexibility of the Ascent platform to adapt to the precise needs of specific applications and business processes," said Kofax Vice President of Marketing Anthony Macciola. "Expect to see more Ascent-based products which have been optimized for other specific applications."

Availability and Pricing

Ascent for Payables is available now and will initially be sold directly by Kofax and integrated and supported by the Kofax Professional Services Group. As Kofax channel partners become Ascent for Payables certified, they will become the primary source for product, integration and support. Pricing begins at $15,000.

About Kofax

Kofax Image Products Inc. (www.kofax.com), a division of the DICOM Group plc, is a leading developer of application software and image processing products for the Electronic Data and Document Capture (EDC) market. EDC is essential to helping paper-intensive organizations economically, reliably and securely incorporate paper-based information into their electronic business processes.

Note to Editors: Ascent is a registered trademark of Kofax Image Products Inc. All other trademarks mentioned herein are the property of their respective owners.