Global services company automates invoice processing with ReadSoft through agreement worth 460,000 USD

Regulatory News:

The U.S. based organization has selected ReadSoft’s SAP®-certified invoice automation solution to streamline its accounts payable operations and enable greater processing efficiencies across the enterprise. The agreement is worth 460,000 USD and was signed in the third quarter of 2013 and includes licenses, maintenance and services.

This leading services company suffers with a completely manual invoice process where invoices are scanned at regional offices and sent to its corporate headquarters as email attachments. Each day, AP clerks receive hundreds of invoices at various email inboxes, which are subsequently printed, hand-keyed into SAP and stored in file cabinets onsite. With such a paper-intensive invoice process in place, the company aimed to simplify its AP operation and eliminate duplicate work with an invoice automation solution seamlessly integrated into its SAP Enterprise Resource Planning (ERP) System. The organization deemed ReadSoft a reliable fit to meet its processing needs due to the AP automation market leader’s strong record of customer testimonials and successful end-user experiences with its SAP-certified invoice automation solution. With ReadSoft’s flexible solution seamlessly integrated into the customer’s SAP ERP system, the company looks forward to a more streamlined invoice process with greater visibility & control. "In this case, it is clear how decentralization, coupled with high-volumes of paper, can cause costs to stack up within companies’ back-office operations,” says Per Åkerberg, President and CEO of ReadSoft. "But with our strong North American automation implementation expertise, this company can maintain successful operations across remote locations with centralized, automated invoice processing functionality to run a smoother, more cost-effective AP process in the long-run.” Within this press release, ReadSoft’s customer in the transaction or co-operation is not mentioned by name. This is due to the fact that they have requested to remain anonymous. This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 3, 2013 at 10:00 CET.

About ReadSoft

ReadSoft is a leading global provider of software solutions for document process automation (http://www.readsoft.com/solutions/document-processing) in the cloud (http://www.readsoft.com/solutions/document-processing/capture-in-the-cloud)or on premise. ReadSoft is by far the world’s number one choice for invoice processing automation (http://www.readsoft.com/solutions/document-processing/invoice-processing), especially into business systems from SAP (http://www.readsoft.com/solutions/automation-for-sap) and Oracle (http://www.readsoft.com/solutions/automation-for-oracle). ReadSoft’s software enables companies to automate document processes such as accounts payable processing (http://www.readsoft.com/solutions/by-department/accounts-payable), and mailroom automation (http://www.readsoft.com/solutions/document-processing/mailroom-automation). Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 17 countries on six continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com

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