ReadSoft signs EUR 390,000 deal with public transportation company in the U.K.

ReadSoft has won a major deal with one of the most recognized and
successful public transportation brands in the U.K. The agreement
covers the processing of approximately half a million invoices
annually. The ReadSoft solution will automatically process invoices
within the customer's Oracle system. The value of the agreement is
EUR 390,000 and the major part of this is licenses.

This market  leading public  transportation company  delivers  travel
services through bus, coach, rail and  tram across the U.K. but  also
in the  U.S. and  Canada. Having  chosen Oracle  E-Business Suite  as
their business system several years ago, this customer also wanted to
improve its  accounts payable  processes by  extending the  financial
system to also automatically read and process supplier invoices.

Today, this company manually handles  all data connected to  invoices
by using a  procurement system  to generate purchase  order data  and
transfer them  into  the Oracle  E-Business  suite. Invoice  data  is
manually entered into Oracle for line  item matching. This is a  time
consuming and inefficient way of handling invoices.

In order to reduce overall accounts payable costs and to streamline
the 3-way matching process, they went looking for an automated
invoice processing solution. The solution from ReadSoft exactly
matches their needs by offering significant business value, allowing
better use of employees, higher-quality information and improved
security."As an internationally recognized leader in invoice automation, we
understand the challenges felt by accounts payable departments like
the one at this company," says Jan Andersson, President and CEO of
ReadSoft.  "Over a long period of time we have consistently
demonstrated a focus on achieving value to this customer - including
a proof of concept which highlighted a need to address other areas of
their business. This proved to be a key factor in closing this deal."




For additional information, contact:
ReadSoft
AB
Jan Andersson, CEO, ReadSoft

Phone: +46 708 - 37 66 00
Jonna Opitz, Vice President, Corporate
Communications
Phone: +46 733 - 37 86 68
jonna.opitz@readsoft.com

About ReadSoft
ReadSoft is a leading global provider of software solutions for
Document Automation. ReadSoft's software enables companies to
automate document processes such as data entry, classification, ERP
matching, workflows, e-invoicing etc. The results are faster and less
expensive document processing, and increased control. ReadSoft is by
far the world's number one choice for invoice automation solutions.
Specialized solution labs for SAP, Oracle, Microsoft and Capture
processes ensure cutting edge solutions with great customer value.
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.