Multinational telecom company expands their use of ReadSoft Invoice automation software through agreement worth 490,000 EUR

Regulatory News:

As many other customers, this company started using ReadSoft’s AP automation software (http://www.readsoft.com/purchase-to-pay/accounts_payable.aspx) in a limited part of the group. After seeing the savings and business values that AP automation software brings, they have now decided to expand the solution to other parts of the business as well.

ReadSoft’s AP automation software receives incoming invoices regardless of whether they arrive on paper or in electronic form and extracts the information from them. This information is then used for automatically matching the invoices against purchase orders in the customer’s SAP® system. The AP automation solution also includes an electronic workflow for approving invoices.

"ReadSoft is very well equipped to cater for the needs of large, multinational corporations such as this customer,” comments Jan Andersson, President and CEO at ReadSoft. "Many of these companies first implement our AP automation software (http://www.readsoft.com/purchase-to-pay/accounts_payable.aspx) in one part of their organization and then expand the solution to other branches. It is rewarding to see that this customer feels confident enough to increase their investment in ReadSoft software and I am certain that they will continue to benefit from our solutions in other parts of the organization as well.”

This information is such that ReadSoft AB (publ) is to publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on December 27, 2010 at 4:00pm CET.

About ReadSoft

ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing (http://www.readsoft.com/purchase-to-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx), document sorting (http://www.readsoft.com/software-products/document-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx). ReadSoft is by far the world’s number one choice for automated invoice processing (http://www.readsoft.com/software-products.aspx), especially into business systems from SAP (http://www.readsoft.com/default/sap-solutions) and Oracle (http://www.readsoft.com/default/oracle-solutions). Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five 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 Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com (http://www.readsoft.com/).

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