Leading Brazilian realty group invests 640,000 USD in ReadSoft's solutions for invoice automation

Leading Brazilian realty group invests 640,000 USD in ReadSoft's
solutions for invoice automation

One of the leading realty groups in South America with its base in
Brazil has selected ReadSoft's SAP-certified invoice processing solution
to process hundreds of thousands of documents per year. The customer
will implement the solution at four companies belonging to their Group
in order to accelerate the processing of paper and electronic invoices
inside SAP. The agreement is worth 640,000 USD and was signed during the
second quarter of 2011.

With hundreds of different sites all over Brazil, the customer sought a
more standardized accounts payable (AP) process. And with a very large
amount of invoices being received every year, the company saw an
opportunity to increase its efficiency, visibility and control over
invoices, while saving time and money, by automating their invoice
processing.The implementation of the project is planned to start in
June.
After a thorough evaluation of a number of vendors, the company chose
ReadSoft's INVOICE COCKPIT Suite, a SAP-certified invoice processing
solution seamlessly integrated with SAP. The company required a solution
with high integration level with SAP, and was convinced that ReadSoft
was capable of delivering a solution that met this requirement.
ReadSoft's invoice processing solution works inside the SAP system, thus
reducing training effort and time to go live. Moreover, ReadSoft has
thousands of references who have successfully implemented similar
solutions in the past.
“Companies turn to us for our extensive invoice processing experience,
competence and capability to perform complex implementations across the
globe,” comments Jan Andersson, President and CEO at ReadSoft. “We look
forward to working with this client to provide the most efficient
invoice automation solutions and services helping them reach their AP
targets.”
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 June 28,
2011 at 14:30 CET.

For additional information, please contact
ReadSoft
AB                                                                      
                                  
Jan Andersson, President and
CEO                                             
Phone: 46 708 37 66 00
Johan Holmqvist, Vice President, Corporate Communications
Phone: 46 708 37 66 77
Email: johan.holmqvist@readsoft.com (johan.holmqvist@readsoft.com)