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Reynolds C. Bish, CEO, Kofax

Reynolds C. Bish, CEO, Kofax. Corporat e Update & Vision. Making the First Mile™ of Business Smarter. 1. What Happened Since Last Year’s Transform?. Record fiscal year ended June 30, 2012 Software License Revenue: $117.3 million Total Revenues: $262.5 million

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Reynolds C. Bish, CEO, Kofax

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  1. Reynolds C. Bish, CEO, Kofax Corporate Update & Vision Making the First Mile™ of Business Smarter 1

  2. What Happened Since Last Year’s Transform? Record fiscal year ended June 30, 2012 • Software License Revenue: $117.3 million • Total Revenues: $262.5 million • Adjusted EBITDA: $48.5 million • Adjusted EBITDA Margin: 18.5% • Cash: $81.1 million • No debt / $40.0 million unused line of credit

  3. Four Years of Growth Software License Revenue – CAGR 7.9% Total Revenue – CAGR 15.6% Adjusted EBITDA – CAGR 39.2% Adjusted EBITDA Margin $000s

  4. Closed Two of the Largest Sales in the History of Kofax • $4.2 million in June 2012 to a US government agency • $4.8 million in February 2013 to a Western European national government agency • Both for large scale, nationwide capture projects for citizen benefits • And we added a record 2,348 new customers

  5. Continued to Invest in Innovation • Spent a record $33.5 million or 13% of our total revenues on R&D • We launched 11 new software releases & products, including • Kofax Mobile Capture • KMC App for Mortgage Processing • KMC App for Auto Claims • Kofax TotalAgility 6.0 – our first product as a perpetual license & as a hosted SaaS offering

  6. We Acquired Altosoft • Adds business intelligence & analytics for all our products • Provides more actionable information sooner • Process & data analytics, visualization, discovery & ETL capabilities • Rapid, no-coding development & near real time reporting • Available as a perpetual license & as a hosted SaaSoffering • Scott Opitz, CEO, and Alex Elkin, CTO are here…

  7. Forrester Published its First “Wave” for Multichannel Capture • Ranked Kofax a “Leader” & number one in all three categories • Current offering • Strategy • Market presence

  8. We Asked Forrester to Assess the Capture Market • Confirmed Kofax’s #1 leading 15% share of the capture market • Validated our market expansion & growth strategies • Found the capture market to be expanding & changing Electronic Content Transformation SPA Market MCC Market DCM Traditional Integration BPM Market Production On-demand Mobile Source: Forrester – August 2012

  9. What is a Smart Process Application? Support business processes that are • People intensive • Information intensive • Highly variable & unpredictable • Loosely structured & subject to change • Collaborative Source: Forrester – August 2012

  10. Kofax’s Smart Process Applications “Systems of Engagement” generate real time, information intensive interactions with customers “Systems of Record” - which are typically rigid, large scale enterprise applications & repositories Paper Provide an essential connection to… Faxes Digital ScannersMFPs / MFDs ERP / CRM / LOB Transform & Simplify the Business Critical “First Mile” of Customer Interactions Portals Results in an Optimized Customer Experience & Greatly Reduced Operating Costs Mobile Devices ECM & Records Mgmt. Databases & Other Archives Emails MS Office / PDF TIFF / JPEG Files IT & Telcom Infrastructure XML / EDIData Streams

  11. Challenges: Receives > 1,000 claims per day, > 240,000 per year 40,000 pages of paper & faxes / day Processing is labor intensive, slow, prone to errors & expensive Difficult to provide a responsive level of service Systems of Record can’t accommodate e-Business Workplace Safety & Insurance Board in Ontario, Canada Provides no fault workers compensation insurance for > 230,000 employers with > 4.5M employees. It’s the third largest group insurer in North America. • Expected Benefits: • Move to electronic input via mobile devices • Faster & more accurate processing via automation • Greatly reduced operating costs • Improved customer service • All without having touch their Systems of Record

  12. Kofax Products & Market Evolution

  13. Kofax’s Positioning & Messaging BPM Capture Dynamic Case Management Batch IMAGE Ad Hoc Capture Enabled BPM Production CONTENT Distributed SCANNING Front Office Web Point of OriginationTM Mobile

  14. Kofax’s Positioning & Messaging • Banking • New customer onboarding or account openings • Investment account transfers • Mortgage & loan applications • Wholesale & retail lockbox banking • Check truncation • “Trailing documents” • Healthcare • New patient onboarding • Claim submissions • Explanation of Benefits • “Trailing documents” • Insurance • New customer onboarding or applications • New policy quotes • Claim submissions • “Trailing” documents • Supply Chain • Invoices • Purchase requisitions & orders • Receiving documents • Proof of delivery • Waybills & airbills • Government • Citizen benefit enrollments • Claim submissions • License & permit applications & renewals • “Trailing” documents • Other Verticals • Construction – stage of completion for loan funding • Energy – real time production site reports • Telcom – new customer onboarding or account openings • Transportation – proof of delivery

  15. Our New Positioning & Messaging Vision To make the First Mile™ of business smarter To dramatically transform and simplify the business critical First Mile of customer interactions Mission Value Proposition In doing so, organizations can significantly increase their responsiveness to customers, provide a higher level of service, gain competitive advantage and better manage and grow their businesses while also greatly reducing operating costs. We combine market leading capture, process management, analytics and mobile capabilities to provide “smart process applications.” Smart process applications enable organizations to realize these benefits in a timely and cost effective manner while minimizing the need to modify existing enterprise applications and repositories. They provide an essential connection between an organization’s “systems of engagement” and “systems of record.” How do you do that?

  16. Kofax’s Market Expansion & Growth Opportunities $14.0 bn • That portion of the SPA market that plays to Kofax’s strengths in the “First Mile” of customer interactions 18% CAGR • Acquired Singularity in Dec 2011 to add BPM & DCM capabilities • A “Visionary” in Gartner’s “Magic Quadrant” for BPM • A “Leader” in Forrester’s “Wave” for Dynamic Case Management 59.7% CAGR $7.1 bn 14.6% CAGR • # 1 position in capture – 15% market share • The “Leader” in Forrester’s “Wave” for Multichannel Capture • 88% scan forms but 55% key the data 4.5% CAGR Sources: Gartner – April 2011, Forrester – August & December 2012 & AIIM – March 2012. Dollar amounts are software & maintenance at the end user level.

  17. Kofax’s Vertical SPAs Strategy

  18. Our Competitive Advantage • No one else has the comprehensive product set needed to effectively transform & simplify the business critical “First Mile” of customer interactions • Proven track record of providing SPAs • Global hybrid go-to-market model & reach

  19. Our Corporate Strategy • Maintain & enhance all of our software products • Aggressively invest in mobile & our vertical SPAs strategy • Leverage our offshore software development sites • Deliver organic revenue growth > than the market • Augment that growth with strategic acquisitions • Control costs to meet adjusted EBITDA objectives • Pursue a secondary listing on NASDAQ

  20. Thank You ! Our success is the direct result of your continuing support and trust.

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