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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
Reynolds C. Bish, CEO, Kofax

Corporate Update & Vision

Making the First Mile™ of Business Smarter

1

what happened since last year s transform
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
four years of growth
Four Years of Growth

Software License Revenue – CAGR 7.9%

Total Revenue – CAGR 15.6%

Adjusted EBITDA – CAGR 39.2%

Adjusted EBITDA Margin

$000s

closed two of the largest sales in the history of kofax
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
continued to invest in innovation
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
we acquired altosoft
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…
forrester published its first wave for multichannel capture
Forrester Published its First “Wave” for Multichannel Capture
  • Ranked Kofax a “Leader” & number one in all three categories
    • Current offering
    • Strategy
    • Market presence
we asked forrester to assess the capture market
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

what is a smart process application
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

kofax s smart process applications
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

workplace safety insurance board in ontario canada

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
kofax s positioning messaging
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

kofax s positioning messaging1
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
our new positioning messaging
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?

kofax s market expansion growth opportunities
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.

our competitive advantage
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
our corporate strategy
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
thank you

Thank You !

Our success is the direct result of your continuing support and trust.