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If you’re looking to automate your invoicing process, you probably already have a list of solutions that can help you do it. Along with others, Kofax AP Agility Solution must be there in your sorted list of AP solutions. If yes, your research is right on track.
To start with, Kofax is a powerful invoice processing tool allowing smooth data extraction, data validation, and ERP integrations. But it is always good to have more choices before making a decision. So, what are Kofax’s AP Agility solution’s alternatives? Is Docsumo’s Automated AP solution one of the alternatives?
Let’s find out!
Is Docsumo an alternative to Kofax?
To answer that question, we’ll compare Docsumo’s Automated Accounts Payable API with Kofax AP Agility solution for certain parameters and will try to give you an honest and true opinion. We’ll compare both the solutions for:-
- Cost and trial
- Training and deployment compatibility
- Data extraction and validation features
- Integrations allowed
1. Cost and trial
Kofax offers a custom pricing for different sets of requirements based on the document type, layout, and number of documents scanned over a month. It can vary from 20 cents to $1 per document. To get the exact cost, contact the Kofax sales team. Kofax also offers you a generous free trial with which new customers can leverage Kofax Capture for up to 10,000 scanned or imported pages with no license or maintenance cost. Kofax Capture is designed for big enterprises which is reflected in their pricing model.
With Docsumo, you don’t need to make a huge investment. You can start with $2,000 for 10,000 documents/month. Docsumo offers live free demo and allows a 100 point credit which can be used to test the product. The advantage of Docsumo’s pricing model is that you can get started very quickly without investing a huge sum of money.
2. Training and deployment compatibility
Kofax offers online tutorial videos and documentations to help you get comfortable with the UI and workflow of the solution. Documo comes neck-to-neck to Kofax here. Docsumo provides plenty of online video tutorials along with documentation for users and developers. You can even book a free demo with us anytime and the team will walk you through the UI and workflow. Docsumo is currently a cloud-based SAAS solution compatible with any web-browser whereas Kofax works as both - an on-premise software and a browser based solution.
It requires minimum efforts to install Docsumo smoothly within your system whereas installation and integration of Kofax cannot be done without a system integrator.
3. Data extraction and validation
Since data extraction and validation are the core of invoice processing, Docsumo has left no stone unturned to perfect it. With the help of intelligent OCR and machine learning, Docsumo accurately extracts critical business information and verifies it against the master data records of supplier/vendor, purchase order and general ledger account information. Similar to Kofax, Docsumo lets you extract all the standard fields and line items from any invoice layout. Zone selection tool makes it easier to capture data in key-value pair form.
Kofax allows you the convenience to easily integrate it with different ERP solutions such as SAP, Oracle Peoplesoft, Microsoft Dynamics AX, and Lawson S3. Docsumo allows API and front end based integration with which the user can embed the frontend tool into their system and process the extracted data anywhere they want. Docsumo also comes with a Zapier integration, with which you can manipulate the extracted data in almost any system you want.
So, who's the winner?
Frankly speaking, there's no direct answer to this question as it depends on your use-case. Kofax Capture comes with some great features for large enterprises and Docsumo makes the experience of invoice processing smooth with its user-friendly UI and quick turnaround time. At this point, we'd recommend to give both, Kofax and Docsumo a shot and go for a free and decide for yourself which fits better in your operational settings.
Contact us today for a free demo!