Kofax Ltd., an Irvine, Calif.-based provider of smart process applications for customer engagement software, has acquired Netherlands-based Aia Holding BV, a provider of customer communications management (CCM) software, for $19.5 million in cash. Kofaz said that it expects to complete the full integration of Aia by the end of its fiscal year on June 30, 2015.
Kofax’s smart process applications simplify what the company calls the “First Mile” of information of customer interactions. It combines capture, process management, analytics and mobile capabilities that enable organizations to increase their responsiveness to customers, provide better service, gain a competitive advantage and better grow their businesses while reducing operating costs. Kofax software and solutions are deployed by 20,000 customers in financial services, insurance, government, healthcare, supply chain, business process outsourcing, and other markets. Kofax delivers its solutions through direct sales and service organizations, and a global network of more than 800 authorized partners in more than 75 countries.
Aia’s CCM software helps organizations manage interactive and ad hoc customer correspondence both electronically and on paper, enabling them to address evolving needs faster and increase the effectiveness of their customer communications. The user-friendly, flexible and agile platform leverages data from other business applications, enabling organizations to create personalized, customer-driven letters, contracts and other documents with minimal IT effort. Aia software is used in more than 400 customer-focused organizations across the globe, including ABN Amro, Allianz, Legal & General, and LeasePlan.
Aia’s CCM software will be seamlessly integrated with its business process management (BPM) solution, Kofax TotalAgility, and will continue to be offered on a standalone basis. The addition of CCM to TotalAgility’s capture, process management, information integration, analytics, e-signature and mobile capabilities will significantly strengthen the value of Kofax’s smart process applications and their competitive differentiation and advantage.
Kofax notes that according Gartner estimates CCM software was a $910 million market in 2014 and expected to grow at a compound annual growth rate of 11 percent to $1.2 billion in 2017. Gartner attributes this growth to be driven by customer communications going digital, contextualized and consumed on demand via multiple channels, including the Web, mobile devices and social media.
"For years CCM has been pegged as a back-office operation that produces statements and bills. Now, customer experience demands have thrust CCM into a major software category supporting the growing and diverse content that enterprises must assemble and deliver to customers," said Forrester Research.
"The acquisition of Aia is a natural step forward in realizing our strategic vision for smart process applications,” said Reynolds Bish, CEO, Kofax, in a statement. “The need for a comprehensive, end-to-end customer engagement platform that handles content from any channel or device anywhere is becoming ubiquitous and urgent. Adding CCM to the Kofax TotalAgility platform will let organizations offer an even more compelling experience to their customers in the business critical First Mile. We’re very excited to welcome Aia to the Kofax family."