Checking Out With Mobile Devices

— January 14, 2013

According to The Forrester Wave: Multichannel Capture, Q3 2012, a report by Forrester Research, business processes will radically change over the next five years. “The mobile device will initiate a high percentage of transactions and will be used to complete the transaction in real time. Straight-through transactions enhance user experience and improve process efficiency,” said Craig Le Clair and Alan Weintraub in the report.

Confirming, approving and paying invoices are the most critical accounting functions facing organizations today. When employees are mobile, it's even more crucial to streamline the process and put control in the hands of the end user, no matter where they are.

In response to the changing environment, Kofax, a provider of Capture Enabled BPM (business process management) solutions, has launched its MarkView for Accounts Payable 8.0, a secure mobile solution for the automated capture and processing of accounts payable (AP) information.

The new product is designed to accelerate processes and optimize cash management by enabling customers to use the cameras in mobile devices such as smartphones and tablets to capture, view, manage and approve information from receipts and invoices from anywhere, at any time, within a secure chain-of-custody that includes AP processes and workflows.

It automates the receipt and capture of paper and electronic invoices, extracts relevant data from that content, perfects it and then manages the information into workflows for routing transactions through exception handling and approval processes.

The app leverages Mobile Capture, which allows mobile devices to become viable tools for information capture and automation solutions. It also is designed to prevent fraud by providing complete chain-of-custody assurances so that only authorized users can access and submit content to relevant systems and processes. Once captured, an image cannot be altered or tampered with and does not remain on the mobile device.

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