December 7, 2011: Kofax Plc has established itself as brand name in the capture centric business process management solutions. The organization has gained enough respect for its preciseness, time management as well as cost effectiveness. Their solutions provide their customers in banking, insurance, government and other sectors with a rapid return on investment. The company has a worldwide presence across 70 countries with a total of 800 authorized partners.
The latest news that is making headlines includes the acquisition of BPM vendor Singularity by Kofax. The acquisition is considered to be a significant step forward for the company as far as their expansion plans are considered in the capture based business process management segment.
Reynolds. C. Bish, Chief executive Officer of Kofax said in an official statement that the acquisition of Singularity will allow their customers in managing information by expanding their reach beyond capture in to the BPM market. He also added that they are excited to deliver more capabilities to the customers and the company welcomes the Singularity management team and employees to Kofax.
The acquisition of Singularity by Kofax is expected to provide the company with substantial benefits. Kofax is expected to significantly expand its market presence in the addressable market. It is expected that Kofax’s core capture market is to record a compound annual growth rate of 10% where as the BPM market is expected to annually grow by 12%.
The acquisition of Singularity is expected to give the company a significant revenue boost and thereby making it a market leader in its core Capture market as well as a leader in the BPM market. The company will now have the recognition of being the first of its kind to provide capture based BPM platform services.
The customers seems to be the greatest beneficiary since they will be able to achieve a lower total cost of ownership as well as a faster return on the investment by means of the capture enabled BPM platform. Customers can automate the capture process so that content can be fed to the enterprise applications as well as they can analyze knowledge to create intelligence out of captured information, thus helping in informed decision making.
It is expected that the unification of the Singularity as well as Kofax products provides a fully deployable ‘on premise’ by means of private clouds as well as public clouds. It is expected to allow the company to serve a wider range of customer buying preferences and thereby creating more revenue streams.
The acquisition of well recognized BPM vendor Singularity by Kofax that is a pioneer in capture business process management solutions is all set to generate more revenue as well as increase the reputation of Kofax in the international market.