Kofax, a provider of intelligent capture & exchange solutions, has announced it will provide a document capture solution to Europe’s financial services firm, serving retail, corporate and investment banking and insurance customers globally. The value of the contract to Kofax is approximately $350,000.
The company has said that it will use Kofax software to capture, classify, extract and perfect data from more than 2 million medical insurance documents, including medical records, clinical trial results, customer claims and contracts, received annually within its insurance division. The resulting data and images will then be exported into an IBM content management system for archive purposes. As a result, the organization expects to reduce manual processing tasks and realize cost savings through improved operational efficiency and increased data accuracy.
Alan Kerr, executive vice president of field operations at Kofax, said: Global financial services firms, which have such paper-intensive services as healthcare insurance, must deliver operational efficiency and ROI at every level of their organization in order to improve customer service and maintain their competitive advantage.
