Kofax (LSE:DCM) today announced that Oakwood Worldwide, the leading global temporary housing and serviced apartment provider, has selected Kofax Intelligent Capture & Exchange as the foundation for its new solution to better automate the processing of the tens of thousands of utility bills it receives each month.
“Our previous system involved a heavy amount of manual processing for each utility bill,” said Brad Niemiec, manager of the national accounting process for Oakwood Worldwide. “Through our partnership with Western Office Systems and Kofax Professional Services, we were able to implement an effective solution to better automate how our accounting team processes the large volume of utility bills we receive each month. As a result, we have been able to reduce disconnects with our vendors and are positioned to support our projected annual growth of more than 20 percent without increasing full-time or temporary staff.”
Founded in 1960, Oakwood Worldwide’s client base is primarily Fortune 2,000 companies, but the company also serves a wide range of clients, including small-to-midsized businesses, entertainment executives and production companies, insurance companies, consulting firms, professional sports teams, and U.S. government and military personnel. At any time, in virtually any location, Oakwood can lease more than 25,000 temporary housing residences and furnished apartments worldwide.
Oakwood turned to local Kofax Certified Solutions Provider Western Office Systems to develop a custom solution to manage its high volume of utility bills that it receives each month. For each unit, Oakwood must manage and process multiple utility bills, including gas, water, electricity, Internet, cable and phone.
“Oakwood’s former accounts payable process was paper intensive and required a lot of human interaction,” said Ray Hughes, general manager, Western Office Systems. “The custom Kofax-based solution we developed for Oakwood has allowed them to support future business growth. It was a pleasure to work with Oakwood, and we look forward to helping other organizations better manage their utility bills with Kofax Intelligent Capture & Exchange.”
By utilizing Kofax Intelligent Capture & Exchange, Oakwood has been able to reduce the number of disconnects, currently at less than .05 percent of all utility services provided, and is now able to process 50 percent more transactions with Kofax Intelligent Capture & Exchange. In addition, Oakwood is now better positioned to support future growth and manage increased volumes of utility bills.
“Because of their format and length, utility bills pose a unique challenge for organizations to process in large volumes,” said Rob Klatell, chief executive officer of Kofax’s parent company, DICOM Group. “Kofax Intelligent Capture & Exchange offers a flexible, advanced solution that can easily recognize, classify and extract the many different lines of data found on utility bills to help organizations automate their accounts payable processes.”
About Kofax
Kofax, a division of DICOM Group plc (LSE:DCM.L), is a global leader of Intelligent Capture & Exchange solutions. Its leading edge capture and exchange technologies and solutions enable Business Process Automation by managing the transformation and exchange of business-critical information (residing in various formats such as paper, fax, electronic documents, e-mail, SMS) among people, applications and devices. Kofax products are widely used in finance, government, insurance, healthcare, and a broad range of companies and agencies that must capture critical business information from paper and electronic documents and forms.
About Oakwood Worldwide
Oakwood Worldwide is the global leader and most trusted provider of temporary furnished apartments. Whether traveling for business, leisure or when relocating, Oakwood has remained the international leader by consistently providing outstanding quality, reliability and value. Our focus and commitment to customer service makes us easy to do business with to fulfill your temporary housing needs.
Featuring an expansive portfolio of nearly 30,000 furnished and unfurnished residences in the most desired locations throughout North America, Europe and Asia, Oakwood offers a full spectrum of housing solutions virtually everywhere to meet the demands of today’s personal and business travelers. A global staff of more than 3,000 trained professionals, innovative technologies and unparalleled customer service has made Oakwood the premier choice in temporary housing solutions for nearly half a century. For more information, please visit www.Oakwood.com.
Kofax is a trademark or registered trademark of Kofax Image Products, Inc. All other trademarks and registered trademarks belong to their respective owners.
Contacts:
Michael Troncale, 949-727-1733, ext. 434
michael_troncale@kofax.com
