American biopharmaceutical company implements ReadSoft s SAP-certified solution to automate their purchase-to-pay process

American biopharmaceutical company CV Therapeutics sought out a
solution to increase the productivity of their SAP-based accounts
payable process. They purchased ReadSoft's SAP-certified solution
which is expected to go into live production within 60 days.

ReadSoft is the leading solution provider for automation of  document
processing in SAP environments and  offers solutions to optimize  and
extend the performance of SAP  systems. The company has designed  the
system to reside within the  SAP system landscape and accelerate  the
process  throughout   the  entire   accounts  payable   cycle.     CV
Therapeutics required a system that was tightly integrated with  SAP,
had little to no customizations, and offered reporting capabilities -
all while  enabling  the  organization  to  image  and  automate  the
processing of incoming invoices.  This made ReadSoft a strong fit for
such an environment.

Brian  Shew,  Vice  President   of  Information  Management  for   CV
Therapeutics,  described  the  company's  motivation  for   selecting
ReadSoft as the  vendor of choice  for the project.  "First, we  were
pleased with  the  potential  gains in  efficiency  through  OCR  and
electronic processing. Second, with  all accounts payable data  being
electronic with  ReadSoft technology,  the  company would  have  full
visibility to accounts payable.  Lastly, the ReadSoft solution  would
enable AP metrics to be collected automatically on the department and
company.""We were  pleased  to  learn that  ReadSoft's  SAP  accounts  payable
automation  solution  can  benefit  and  be  cost  effective  for   a
medium-size  company,"  said  Shew.  "Over  time,  we  hope  to  make
significant gains in AP processing.""As an internationally  recognized leader in  invoice automation,  we
understand the challanges felt  by accounts payable departments  like
at CV  Therapeutics,"  says  Jan  Andersson,  President  and  CEO  of
ReadSoft.   "We have  over  300 installations  using SAP  across  the
world, which gives us unique skills and experiences when implementing
SAP-integrated solutions for accounts payable automation."

CV Therapeutics will  use ReadSoft's Invoices  business solution  for
SAP, of  which  all  components  are  certified  directly  from  SAP.
Products include  ReadSoft DOCUMENTS  for Invoices,  the imaging  and
data-capturing component, as  well as INVOICE  COCKPIT and  WEBCYCLE,
which  provides  routing  and  workflow  capabilities  for  exception
handling, coding and approvals. In addition, CV Therapeutics will use
ANALYZER to provide reports and statistics on their accounts  payable
document flow in SAP.


ReadSoft DOCUMENTS for Invoices
More than ten years of experience with electronic invoice processing
has produced the most powerful, and by far the most popular (2,000
clients), system on the market. ReadSoft DOCUMENTS for Invoices is a
highly profitable investment for just about any business. Fully
implemented, electronic invoice processing lowers costs by 25-50%.
Meanwhile, the invoicing process speeds up and employees can devote
more time to tasks that take advantage of their individual skills.
ReadSoft DOCUMENTS for Invoices captures, reads and classifies all
incoming formats, whether paper or electronic. The solution, which is
customised for simple linkage to leading international enterprise
systems, is certified for both SAP and Oracle.

For additional information, contact
ReadSoft
AB
Jan Andersson, CEO
Phone: +46 708 - 37 66 00
Jonna Opitz, Vice President Corporate
Communications
Phone: +46 733 - 37 86 68
jonna.opitz@readsoft.com

ReadSoft is a world-leading supplier of software for document
automation. The company develops and markets a complete software
platform for document automation under the name of ReadSoft
DOCUMENTS. The vision is to release businesses around the world from
handling documents manually. Since starting in 1991, ReadSoft has
grown to a worldwide Group with offices in 16 countries in Europe,
North America, South America and Australia, as well as a large number
of local and global partners. The head office is in Helsingborg,
Sweden, which - along with Stockholm - also houses the Group's main
research and development unit. The ReadSoft share is traded on the
Nordic Stock Exchange Small Cap list.
Find out more about the company at www.readsoft.com