Posts tagged: 170 Systems

If you think you know Kofax – think again

Anne Valaitis
 Oct 27, 2009

Kofax recently wrapped up their annual conference – Transform 2009 in San Diego, California. With over 425 in attendance, this audience was a mixture of partners, vendors and end-users. Kofax, founded in 1985, has undergone nothing short of a complete overhaul in the last 18 months. Most changes are thanks to CEO, Reynolds Bish. Bish, former founder of Captiva, spent his first few months with the company identifying many areas in need of serious modification and then went about implementing this revolution of strategic business change.

One of the first major initiatives was to change the name — formerly DICOM group plc, to Kofax. Meant to eliminate confusion with the brands, and quite frankly bring about global synergy among the disparate business units (which according to Bish was sorely lacking), hence the Kofax name was adopted in February 2008.

Next, Bish set out to renovate the management team, making several changes to business unit heads and senior sales staff. The majority of these changes, according to Bish, were to bring experience and leadership to a company that was operating quite separate.

One of the most interesting announcements from Kofax came in September with the acquisition of 170 Systems. A leading provider of financial process automation software, the Markview suite of products provides invoice processing and workflow functionality.  This acquisition could provide a turnkey A/P solution from a single provider, Kofax.

It became clear that Kofax has been busy…Transform was an appropriate event theme this year. Companies that can demonstrate agility and flexibility will ultimately survive and prosper. Arguably an enormous task, not without consequence and fallout, Kofax has seemingly positioned themselves to address the market, and customer needs with product and services.

Kofax Corporate Mission – To be the leading provider of
document driven business process automation solutions

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