Kofax captures PSIGEN – adds innovation-friendly tools

Intelligent document processing and workflow transformation vendor Kofax is extending its document capture, content management, and workflow automation capabilities with the acquisition of PSIGEN.

At the same time, California-based Kofax is rolling out a new version of its workflow orchestration engine with tools to make it easier for enterprises to innovate faster.

The PSIGEN acquisition extends Kofax’s customer and partner base and adds content management software and solutions to its product portfolio.

PSIGEN brings with it document capture and content management with specific applications – such as quote-to-cash, accounts payable, and accounts receivable. Kofax is reassuring customers those solutions will continue to be sold and developed. PSIGEN product – available on-premise and as SaaS – has primarily been sold through 800 authorized resellers and distributors to date.

Low-code extends support for citizen developers and faster innovation

The announcement of the acquisition coincides with the latest release of Kofax’s Intelligent Automation Platform – with a focus on more support for both professional and citizen developers.

Kofax delivers intelligent document processing and workflow capabilities which include cognitive capture, RPA, process orchestration, analytics, and mobile. Even with its range of capture-led capabilities, Kovax makes the cut in our recent RPA Snapshot, too.

Its ‘TotalAgility’ workflow orchestration engine (Exhibit 1) is central to its automation platform. This engine now features 50 low-code apps for document intelligence, process orchestration, and connected systems.

Exhibit 1: Kofax’s TotalAgility workflow orchestration engine is part of its workflow automation platform

Source: Kofax, 2021

Joining what is becoming a low-code tsunami toward citizen enablement, Kofax’s latest release recognizes the benefits of the low-code approach to empower rapid design and automation of business-critical workflows – within the constraints of IT governance.

It enables more of the business to join in through the application of tools, such as visual business rules, decision trees, and process flows.
Among the new features in Kofax TotalAgility are:

• An enhanced business rules engine allowing decision strategies to be executed using visual condition rules and the set-up of custom services without the need to code.
• More low-code support for cognitive capture. This enables professional developers to build advanced AI and capture models, allowing them to train the system and more effectively incorporate document intelligence.
• One-click document classification: This means citizen developers and business analysts can speed up how they visually train, identify and classify documents – with one click.
• Additional low-code integration options. These include OpenAPI and grouping of data, enabling data models to be defined either manually or with JavaScript Object Notation (JSON).

The Bottom Line: PSIGEN enhances Kofax’s ‘Kings of Capture’ claims

The acquisition of PSIGEN won’t shatter any illusions about Kofax. In business for 36 years now, Kofax has added to its capture capabilities – in a market where it already enjoyed a leading position. The move gives access to customers and partner networks offering some new routes to market.

The 50 low-code apps it has added to the latest release of its workflow orchestration engine is also par for the course for workflow and automation providers in 2021.

Both are wise moves – scaling and responding to the market without rocking the boat.