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ReadSoft Signs Agreement with Global Aerospace Leader for Invoice Automation Worth over 420,000 USD

Dépèche transmise le 14 septembre 2011 par Business Wire

HELSINGBORG, Sweden--(BUSINESS WIRE)--Regulatory News:

“This strategy has proven successful time and again as over 6,500 companies have turned to ReadSoft to deliver substantial savings in time, money and manual routine work through automation.”

The North American-based organization has selected ReadSoft’s (STO:RSOFB) SAP®-certified invoice automation solution to streamline its accounts payable operations and enable greater processing efficiencies across the enterprise. The agreement is worth over 420,000 USD and was signed during the third quarter of 2011.

This world-leading manufacturing company sought to advance its accounts payable operations beyond the costly setbacks of labor-intensive manual processing. With high volumes of paper invoices, the accounts payable department routinely struggled to locate invoices throughout the payment cycle. These restraints made it difficult for the staff to track and process invoices and processing bottlenecks emerged, forcing the company to routinely miss out on early-payment discounts.

As the most complete invoice automation solution based on best practices, ReadSoft’s flexible, SAP-certified solution was deemed a reliable fit to meet the organization’s processing needs. With ReadSoft’s end-to-end invoice automation solution seamlessly integrated into the customer’s SAP system, the company can ultimately achieve faster and less expensive invoice processing and increased control of financial processes.

“In today’s competitive business environment, companies are re-focusing their attention on invoice processing to uncover hidden costs in their organizations,” says Jan Andersson, President and CEO of ReadSoft. “This strategy has proven successful time and again as over 6,500 companies have turned to ReadSoft to deliver substantial savings in time, money and manual routine work through automation.”

As follows of this press release, ReadSoft’s counterparty in the transaction or co-operation is not mentioned by name. This is due to that ReadSoft’s counterparty has required to be anonymous.

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 September 14, 2011 at 16:00 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 Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.

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