ReadSoft signs EUR 300,000 deal with a UK government organization

ReadSoft's Oracle E-Business Suite-certified invoice processing
solution will be implemented at a UK government organization, to
automate its accounts payable operations. The deal covers the
processing of one hundred thousand invoices annually. The order value
is approximately EUR 300,000.

Having chosen  Oracle  E-Business  Suite  as  their  business  system
several years ago, the customer  also wanted to improve its  accounts
payable  processes  by  extending   the  financial  system  to   also
automatically read and process supplier invoices. Today, it  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 gain efficiencies 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. The fact
that ReadSoft could present an easy to use "out of the box" solution
with standard processes/workflows which can be followed and
implemented quickly and easily proved to be a key factor for the
organization."As an internationally recognized leader in invoice automation, we
understand the challenges felt by accounts payable departments like
this one," says Jan Andersson, President and CEO of ReadSoft. "We
have been persistent in demonstrating a focus on achieving value to
the customer and rest assured that they will experience improved
control of cash flow and invoices after having implemented our
solution."




For additional information please 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.