It hasn’t taken Lexmark long to start building on the Kofax acquisition. Last week it announced the release of Kofax Onboarding Agility, which is built on top of Kofax TotalAgility — the company's unified smart process application development and deployment platform.
Designed to reduce the time and complexity of onboarding new customers, Onboarding Agility is a framework, explained David Hultquist, VP of Industry Solutions Marketing at Lexmark.
He told CMSWire that this means it provides a set of software components that customers can use to build tailored applications. “We are not providing a ready-to-use, out-of-the-box application, but rather a set of software components that we think are far more powerful and useful,” he said.
Adding to its Strengths
Lexmark bought Kofax last March in what was estimated to be a $1 billion deal, based on share price at the time.
For anyone watching Lexmark’s development and what Kofax had to offer in terms of process automation, it was a perfect match.
Lexmark pushed into the enterprise content management space with the acquisition of Perceptive in 2010. But there were still some gaps it needed to fill.
Kofax had also been building up its capabilities and value through acquisitions. There was a number of notable buys, particularly Kapow, the data integration and analytics provider. It also built up its imaging software with the acquisition of Altasoft, and beefed up business process and cased management when it bought Singularity.
Kofax was the missing link for Lexmark. And it capitalized on the buy with Onboarding Agility.
Onboarding Agility provides reference templates, sample process workflows, configurable user interfaces, document learning sets, integration with third party applications, interactive customer communications and analytics dashboards.
Through end-to-end process automation, the company hopes to create enhanced customer experiences and engagement.
The purpose of the onboarding framework is to enable enterprises to build applications that will automate the first contact between organizations and customers. As Hultquist points out, in a mortgage application, for example, there are a huge number of documents and requests exchanged between the business and the customer.
Onboarding Agility pulls all the content needed to create a unified case file.
“We help a prospective customer apply for a relationship or a service. For enterprises, we help automate requests for certain required documents — say an ID card, driver's license or proof of income,” Hultquist said.
“So after capturing and verifying that information and using our information and business rules, we can provide anything from a straight through approval of an application to various exception handling routes of the workflow. We are automating the entire process."
In the future, Hultquist said Lexmark will be looking at exploiting the framework in conjunction with the Perceptive content management platform and related products like search and file sync and share. It also plans to apply the Onboarding Framework to other verticals, depending on demand and where the sales and marketing team can take it.