Global manufacturing company invests 385,000 USD in ReadSoft's solutions for invoice automation

Global manufacturing company invests 385,000 USD in ReadSoft's solutions
for invoice automation

The North American-based organization has selected ReadSoft's
SAP®-certified invoice automation solution to automate its invoice
process to achieve greater cost savings and efficiency gains. The
agreement is worth 385,000 USD and was signed during the third quarter
2011.

With accounts payable processing divisions dispersed across North
America, this leading manufacturing company strived to centralize
processing and eliminate costly manual setbacks. AP divisions routinely
routed paper invoices across North America during the payment process,
lacking the visibility and control critical to meet payment terms on
time and capture discounts. As the company continued to grow and add AP
processing divisions to support higher invoice volumes, invoice
processing constraints escalated forcing cycle times to lengthen.
Seeking a paperless accounts payable system with complete SAP
integration, the company selected ReadSoft's SAP-certified invoice
automation solution to eliminate manual constraints and boost AP
processing performance. With ReadSoft's end-to-end invoice automation
solution seamlessly integrated with the customer's SAP system, the
company gains visibility & control over its invoice process to yield
faster and less expensive financial operations.
“Paper is a costly adversary even still today for global enterprises
with goals for expansion,” says Jan Andersson, CEO of ReadSoft. “Since
1991, we have partnered with companies to replace paper-driven
inefficiencies with automated routines that foster growth across AP
departments & Shared Service Centers by allowing them to process greater
invoice volumes while reducing costs.” 
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 September 30, 2011 at 16.00 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)