Originally published on InContext, a Lexmark website.
Kofax from Lexmark was in San Francisco for OpenWorld 2016, Oracle’s annual conference and one of the largest meetings of Oracle customers. At booth #511 in Moscone South, we reimaginied financial processing in Oracle and showed off our broad range of automation solutions for Oracle E-Business Suite and PeopleSoft. With the combined technology innovations of Kofax, ReadSoft and Perceptive Software in one booth, we presented the most complete offering yet for end-to-end process automation.
There was so much happening at our booth and around the Moscone Center during the conference, and we captured a lot of it here in our live blog. Check out the photos, videos and information below for a look at all of the happenings from OpenWorld 2016.
Thursday, September 22, 8:00 a.m.
Oracle OpenWorld took over AT&T Park last night for a concert we won’t soon forget! Gwen Stefani and Sting rocked, while everyone enjoyed drinks and the ballpark snacks. It was a great way to end a great conference. Thank you to everyone who stopped by our booth, thank you to Oracle for hosting and a big thank you to San Francisco for the beautiful weather and backdrop this week. See you next year!
Wednesday, September 21, 2:00 p.m.
3 questions about automating financial processes in Oracle
We asked Sales Engineer Prem Vadlamudi about the top three questions he’s been asked while demonstrating AP automation at OpenWorld 2016. According to Prem, there’s been a lot of interest in Kofax MarkView for AP this week.
1. Does MarkView work with the latest version of Oracle E-Business Suite?
“Yes, MarkView works with the latest version of E-Business Suite. What’s great about MarkView, is it’s tightly integrated with it, but has a small footprint. This means, you’ll have a single source of truth for your information, yet when it comes time to upgrade Oracle there is very low risk because there aren’t many things you’ll need to change for MarkView.”
2. How can I get better visibility into our invoice processing?
“Kofax Analytics for MarkView offers dashboards and reports pre-built based on best practices to help you gain insight to optimize your invoice processing. The best example of this involves seeing where the process is breaking down leading to late fees and missed discounts.”
3. What’s new in the latest release of MarkView?
“Mobile approvals and mobile capture for invoice processing are some great new features in MarkView. The potential for increased efficiency is huge when users have approval capabilities on the road or at the airport.”
Wednesday, September 21, 12:00 p.m.
No matter how far along you are in automating purchase-to-pay and order-to-cash processes, there is still enormous potential for further cost savings and improved efficiency through the use of robotic process automation (RPA). During OpenWorld sessions this week, we’ve heard talk of exciting technology innovations in the cloud, through the Internet of Things, AI and now the use of intelligent software robots.
Using RPA, repetitive business processes can be handled across applications, portals, websites and virtually any data source in the same way a business user does them. This offers incredible opportunity across the financial supply chain from supplier network automation to a faster financial close process. One company has even used RPA to automate the process of gathering price comparisons from suppliers and sending quotes and invoices to customers. The best part of adding RPA to your financial process automations strategy is your ability to leverage your current investments in Oracle and other business systems.
Stop by booth #511 today and see RPA in action for yourself. You can read more about Robotic Process Automation, here.
Wednesday, September 21, 10:15 a.m.
We are helping OpenWorld attendees Reimagine Financial Processing in Oracle. Mike explains how Lexmark Enterprise Software solutions enable end-to-end financial processing.
Tuesday, September 20, 5:00 p.m.
We’ve had some great conversations today at the Kofax from Lexmark booth #511. A lot of people are inquiring about Kofax MarkView for Oracle E-Business Suite, and we’ve been showing them how easy it is to reduce cycle times, increase control and visibility, and enable mobile access for accounts payable. Finally, there’s no better way to end the day than spending time with colleagues at our booth Happy Hour.
Tuesday, September 20, 2:30 p.m.
This afternoon’s keynote kicked off with Dr. Vishal Sikka, CEO of Infosys, starting an interesting discussion around how technology is changing the world we live in – disrupting the way we do business, creating new challenges and opening up new opportunities to drive value throughout the organization.
The world around us is becoming increasingly connected. Everyday objects such as cars and smartphones seem more like computers these days, and virtual reality now offers new ways to interact with our information. With all of this change, famous American computer scientist Alan Kay, reminded us in a recorded message that we must keep learning and moving forward with innovation, so we can move on to invent or harness what’s next. “We’d all rather live in a future we can invent than one that’s an endless extension of the present,” Kay said.
Innovative companies are harnessing these advances in technology and connectivity and using them to improve the way they operate and serve their customers, while at the same time moving on to the next innovation.
This was a great reminder that we aren’t ever done. This week at OpenWorld we are asking our booth visitors to Reimagine Financial Processing in Oracle. Whether it’s through robotic process automation to automate manual tasks, or through the use of mobile to capture information from anywhere much faster, there are many ways to go further with process automation and many opportunities to innovate across finance and beyond.
Tuesday, September 20, 12:00 p.m.
One of the largest privately held corporations in the United States, Minneapolis-based Carlson needed to streamline AP operations to efficiently process 3.3 million invoices per year. They turned to MarkView for Accounts Payable from Kofax, seamlessly integrated with their Oracle system to automate the entire AP process. In addition to tripling their productivity, increasing accuracy and lowering audit costs, Carlson was able to recoup its investment in MarkView in less than one year. Stop by booth #511 to learn more about how they did it. Not at OpenWorld? Read their story, here.
Tuesday, September 20, 10:30 a.m.
How can you take back office automation further? Dennis explains how AP and AR benefit from robotic process automation.
Tuesday, September 20, 9:00 a.m.
What is end-to-end financial process automation? It’s about extending the value of your ERP to automate across purchase-to-pay, order-to-cash and record-to-report. A recent report from The Hacket Group explains how document process automation solutions are optimized for complex activities like invoice matching, shipping, and discount data making them an excellent fit for end-to-end processes throughout the financial supply chain.
Enhance your existing investment in Oracle E-Business Suite and PeopleSoft, automate any size operation, reduce manual processing, and improve controls and process visibility. Stop by booth 511 at OpenWorld this week and see our innovative solutions for end-to-end financial process automation and reimagine financial processing in Oracle.
Monday, September 19, 4:00 p.m.
We’re mixing and mingling this afternoon during Happy Hour in our booth! It’s is a great chance to unwind as we approach the end of our first day at OpenWorld. Solution experts have been on hand all day offering demonstrations of AP automation, robotic process automation and mobile solutions. Didn’t make it today? Don’t worry, demonstrations are available tomorrow and Wednesday, and there’s still time to catch happy hour at booth #511 tomorrow from 3:00 – 5:30 pm.
Monday, September 19, 2:30 pm
What’s happening at booth #511? Katie and DeAnne fill us in.
Monday, September 19, 1:00 p.m.
AP automation on your mind? It’s certainly a hot topic here at booth #511. Lexmark recently partnered with Shared Services Outsourcing Network (SSON) to collect survey responses from 181 Finance and Accounts Payable professionals about current capabilities and future plans for their AP departments. Not surprisingly, the findings highlight three major areas of focus for improvement in AP over the next 12 to 18 months: invoice processing time, workflow and visibility. In fact, 48% of those surveyed put faster invoice processing at the top of their list of priorities while nearly the same number (49%) plan to invest in or improve their workflow automation over the next year. When it comes to visibility, 40% of survey respondents would like to improve process visibility and 37% are planning to invest in an analytics solution to do just that in the next 12-18 months.
Kofax MarkView for AP automates the AP operations for organizations using Oracle E-Business Suite, reducing cycle times and enhancing process visibility. Stop by at OpenWorld and check it out. Read more about our survey findings here.
Monday, September 19, 10:15am
If you’re in San Francisco this week for OpenWorld, make sure you stop by booth #511. The next few days will be full of chances to win an Apple Watch, experience your own digital transformation with our caricature artist, and learn how to redefine financial processing with Oracle. We’re going to have a lot of fun this week, but we’re also here to demonstrate our powerful combination of capture, content, process, robotics, mobility and analytics software for end-to-end financial process automation.
Monday, September 19, 8:00 a.m.
We’re off to a great start! And, what an incredible set up around the Moscone Center. Last night, the General Manager of theData Center Group at Intel, Diane Bryant, and Oracle Chairman and Chief Technology Officer, Larry Ellison, kicked off Oracle OpenWorld 2016 at the Welcome Keynote. Diane discussed exciting innovations in enterprise solutions that harness the wealth of data made available today. According to Diane, all of this data means massive amounts of opportunity for organizations that can harness it through innovations such as AI. Technology innovations such as AI and robotics are transforming how business operates and enterprise IT should seize this opportunity. Later in the Welcome Keynote, Larry shared the vision for Oracle Cloud.