Increase Efficiency and Cost Savings with Kofax ReadSoft Online

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It's the turnkey, SaaS-based solution for automating invoice processing in the cloud. See how ReadSoft Online automates invoice processing in this 3-minute demo. 

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Save Time with Best-in-Class Cognitive Capture for Invoices

Enjoy the labour reducing benefits of improved extraction rates, typically at 80% and as high as 95%. Adaptive, self-learning capabilities improve processing speed and precision over time as the application learns to locate invoice data.

 

Easily Automate Invoice Processing with Flexibility and Broad ERP integration

Choose from three ReadSoft Online Editions - Basic, Premium or Enterprise - to accommodate your invoice processing requirements, including capture, line item matching, approvals, general ledger coding and ERP integration. All editions integrate with market leaders in ERP and Pay-to-Procure, such as Microsoft D365 Business Central, Microsoft D365 Finance and Operations, Oracle NetSuite, and Coupa Spend Management, to ensure seamless and compliant invoice processing, from capture to posting for payment.


Kofax ReadSoft Online Benefits  tick

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Increased Data Accuracy 

Get more accurate financial data, reduced audit risks, and achieve better financial compliance. With Kofax ReadSoft Online, you can have total confidence in the quality of your data. All data is extracted using Kofax world-leading cognitive capture technology. Purchase Order (PO) based invoice line items can be validated against purchase orders and goods received. User assistance is provided for GL coding for non-PO invoices. 

Improved Invoice Cycle Times and Supplier Relationships

Faster rules-driven invoice processing for approvals and exception processing assures optimal cycle times and eliminates late-payment penalties and early payment discounts are increased. 

Flexible Pricing Options

Pricing is based on invoice and not page volume. Subscription or 'by the click' purchase options include monthly, annual or prepaid invoice volume for header/ footer, line item and workflow processing, with options for adding invoice image storage.

Analytics for Insight and Visibility

Pre-built dashboards enable you to quickly achieve insight into invoice activity for monitoring invoice status and exceptions; providing continuous feedback for optimising invoice processing. 

Reduced IT Requirements

Implementation is fast. Setup can be completed in hours and requires no hardware or software investments. There is no time consuming maintenance, upgrades or updates. You'll always have access the to the newest features and most up-to-date version of the solution. A dedicated cloud-services team monitors and optimises yours processing 24/7.

Intelligent Line Item Extraction

Integrated machine learning optimises line item extraction and improves as you processes each invoice. The result is highly efficient automated 2-way (invoice to purchase order) and 3-way (invoice to purchase order and goods delivered) line item matching.

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Approval Workflows and GL Coding

Configurable business rules-driven approval and exception workflows (including mobile), user assisted GL coding and image storage additional capabilities for implementing end-to-end invoice automation.

Analytics

Based on Kofax Insight™ Kofax ReadSoft Online analytics provides prebuilt dashboards for monitoring productivity and performance; and for identifying invoices approved, invoices due, invoices on hold and invoice exceptions.

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ERP Integration

Invoices are automatically posted in Microsoft NAV, Microsfot Dynamics 365 Business Central, Microsoft Dynamics 365 Finance and Operations, Oracle NetSuite, and Coupa. For other users an XML file containing invoice data and an invoice image is provided to facilitate integration.

Multi-Language and Currency Support

This truly multi-lingual solution supports a wide range of invoice origin and user interface languages (see data sheet) based on over 25 years of invoice processing experience globally.

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Support for Electronic Invoices

Whether XML or PDF files, increase your invoice extraction rate and reduce manual verification and correction with electronic data.

User-Friendly Interface

Modern HTML5-based user experience makes ReadSoft Online intuitive and simple to work with, requiring little to no specific classroom training.  

  

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Excel Import for Master and PO Data

Use Microsoft Excel to easily import supplier and master data and PO data into Kofax ReadSoft Online for validation and verification.

Multi-tenancy

Kofax ReadSoft Online is a true SaaS solution using a single instance of software to support multiple customers, or tenants; and provides the lowest cost on-boarding of suppliers available.

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Dedicated Cloud Operations Team

The solution is live 24/7 and monitored for optimised customer performance. Kofax ReadSoft Online is SOC2 compliant and benefits from the security, privacy and performance provided by Microsoft's Azure.

Get in touch with one of our Business Process Specialists who will work with you to clearly understand your requirements and identify a solution tailored to your business needs.

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