Leading European high-tech manufacturing group signs agreement worth 1.0 MEUR with ReadSoft

Leading European high-tech manufacturing group signs agreement worth 1.0 MEUR
with ReadSoft

ReadSoft has partnered with a global systems integrator to deliver its
SAP-certified invoice automation solution to a world-leading high-tech
manufacturing group. The deal, which includes several years of maintenance, is
worth 1.0 MEUR and is one of the largest ever for ReadSoft. The agreement was
signed during the fourth quarter of 2011 and the implementation will begin next
year.

The company is a leading player within its field of expertise with a growing
business and operations all over the world. With a newly established Shared
Service Center, handling accounting and purchase services for 11 subsidiaries,
the customer decided to take the next logical step to optimize its organization
– to automate accounts payable (AP) processes within its existing SAP system.
The customer was looking for a solution to eliminate tedious and time-consuming
document handling processes and get better visibility and control in order to
meet payment terms and capture discounts. The choice fell on ReadSoft’s
SAP-certified solution which met the company’s requirements best.
ReadSoft’s market leadership and proven track-record of helping global
organizations effectively implement process improvements and cost-cutting
measures turned out to be decisive for the customer’s choice. The company also
recognized ReadSoft’s established reputation regarding invoice automation inside
SAP, as well as their expertise when it comes to large Shared Service Center
implementations.
With ReadSoft’s end-to-end invoice automation solution seamlessly integrated
with the customer’s SAP system, the company gains visibility and control over
its invoice process to yield faster and less expensive financial operations.
“Winning a great deal like this after a tough and thorough vendor evaluation
proves that our solutions and staff expertise are at the forefront of this
industry. I couldn’t have started my time at ReadSoft in a better way,” comments
Per Åkerberg, President and CEO of ReadSoft. “This is further proof that
multinational corporations understand that ReadSoft’s solutions generate major
benefits for companies seeking to improve the effectiveness and efficiency of
document handling processes as well as cost-cutting measures,” finishes Per
Åkerberg.
As follows of this press release, ReadSoft’s counterpart in the transaction or
co-operation is not mentioned by name. This is due to the fact that ReadSoft’s
counterpart 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 December 7, 2011 at 14.30
CET.

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