Kofax

Kofax Ltd

Type	Public (NASDAQ)(LSE)
Industry	Computer software
Founded	1985 (Kofax) 1991 (DICOM)
Founders	David Silver, Dean Hough, Craig Bufton (1985)
Headquarters	Irvine, California United States (Operations)
Key people	Greg Lock, (Chairman) Reynolds C. Bish, (CEO)
Products	Document capture and Business Process Management
Revenue	$266.3 million (FY2013)[1]
Operating income	$46.3 million (FY2013)[1]
Net income	$16.5 million (FY2013)[1]
Number of employees	1,248 (2013)[1]
Website	www.kofax.com

Kofax Limited (NASDAQ and LSE: KFX) ) is a software provider based in Irvine, California. It produces applications that simplify information-intensive customer interactions. Kofax software provides image capture, process management and analytics capabilities that enable organizations to accept customer communications through multiple input paths such as by paper, fax or email.

Kofax software and solutions are used by more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. Kofax is a publicly traded company, listed on the NASDAQ and the London Stock Exchange.

History

The company was founded in 1985^[2] and was acquired by Dicom Group in 1999. It floated in the Alternative Investment Market in 1996 and was first listed on the London Stock Exchange in 1997.^[3] In January 2008, the parent company (formerly known as Dicom Group), changed its name to Kofax as part of a branding initiative.^[4] In May 2011 Kofax acquired Atalasoft Inc., a small software firm known primarily for its dotImage imaging toolkit, and in December 2011, Kofax acquired Singularity Limited, a provider of business process management (BPM) and case management software. In July 2013, Kofax acquired Kapow Software, a leading data integration software provider, and in December 2013, Kofax was first listed on the NASDAQ. In March 2014, Lexmark announced that it would acquire Kofax for roughly $1 billion.^[5]

The First Mile

The “First Mile” is a trademark of Kofax ^[6][7][8][9] and is a core element of the Kofax vision and tagline “To Make the First Mile™ of Business Smarter.” First Mile describes the initial information-intensive interactions customers have with an organization, such as loan applications, claims submissions, and new account openings, and the challenge of interacting with a business via multiple devices and methods of communication.^[10] These interactions can be time consuming, slow, and prone to error and can adversely affect a customer’s perception of a business, particularly during the initial stages of a transaction.^[11]

The company claims to make the “First Mile” of customer interactions better by providing software and technology applications – document capture, process management, dynamic case management, mobile applications and analytics software – that enable a business to provide an improved user experience by connecting an organization’s system of record (e.g., ERP, CRM and LOB systems) with its systems of engagement (e.g., email, fax, web portals, mobile devices).^[12][13][14]

History

Kofax established the First Mile trademark in 2013. It was created as part of the company’s strategy^[10][15] to provide “smart process applications”, an emerging category of application software^[16][17] defined by independent technology and market research company Forrester Research as a “new generation of packaged applications focused on human-centered business activities that are collaborative in nature, loosely structured, and subject to change yet are critical to the successful operation of any business or government enterprise.”^[11]

References

External links

• Official website
• Official Kofax LinkedIn page