ReadSoft to deliver world class finance function to global energy market provider in 470,000 EUR deal

ReadSoft to deliver world class finance function to global energy market
provider in 470,000 EUR deal

ReadSoft, a leading global provider of software solutions for document
process automation, has partnered with a global System Integrator to
deliver a World Class finance function to an international energy market
player. ReadSoft is responsible for driving document automation
efficiencies in the finance function within the customer's Supplies &
Sources group. The agreement is worth 470,000 EUR and was signed in the
UK during the second quarter in 2011.

As a leading player in the global energy market, with a dynamic growing
business with operations in more than 25 countries over five continents,
the customer's Supplies & Sources group recognized the need for a
modern, integrated finance system.
ReadSoft will provide a comprehensive, end-to-end business process
solution that can integrate seamlessly with SAP, using ReadSoft's
SAP-certified software as a universal invoice hub to control all invoice
processing irrespective of document format. The solution includes
automatic capture and transfer of invoice data, electronic workflow,
instant reporting, online access to invoices, etc. A wide range of other
finance-related processes are also handled by ReadSoft PROCESS DIRECTOR.
ReadSoft's solution for invoice automation will process hundreds of
thousands of invoices a year, across three shared service centres based
in Europe, North America and Asia-Pacific. By increasing automation
across the P2P process, ReadSoft is able to help this customer move to
more advanced and efficient business processes, the majority of which
will include a high percentage of ‘touchless processing' deriving very
high efficiency value for the finance function. ReadSoft will remove
unnecessary handling and keying of data, improving the efficiency of the
AP department by automating repetitive tasks and helping to improve the
level of compliance and governance over the processes wherever the
client trades in the world.
“ReadSoft has once again proved to be the leading solution provider for
automating document driven finance processes for companies with global
reach,” says Jan Andersson, President and CEO at ReadSoft. “It is very
encouraging to introduce a new client to our world leading solutions and
expertise. With such high value transactions, this once again
demonstrates the level of belief that international organizations place
in ReadSoft's solutions.”
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 July 12, 2011 at 16:30 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)