ReadSoft signs agreement worth 1.1 MEUR with global manufacturer

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| Source: ReadSoft AB
After a global selection process the high-end apparel manufacturer has chosen
ReadSoft's SAP®-certified invoice automation solution to process over a million
electronic and paper invoices and other documents in its global shared service
center operations. The license, services and maintenance agreement signed is
worth an initial 1.1 MEUR and was signed in the fourth quarter of 2013.
The customer is consolidating its operations across many countries into a global
shared service center to handle both the volume of invoices processed and
multiple other business processes, with the ultimate aim of benefiting from the
elimination of manual processing and driving up automation rates in its P2P
processes. They are simultaneously moving to a single SAP instance for all
global operations. ReadSoft has also provided a platform to handle business
documents and information to deliver multi channel process automation.
The desire to centralize back-office operations while maintaining multiple
manufacturing locations was the key part of the project. ReadSoft was chosen as
the best solution to enable common financial processes both across multiple SAP
environments, while moving easily to a single instance and replacing a number of
other third party systems as part of the global standardization.
The chosen solutions, ReadSoft PROCESS DIRECTOR for SAP and the ReadSoft
platform for multi-channel input management are a modular way to handle not just
AP processes but a multitude of business process automation tasks such as
delivery notes, sales orders, or remittance advices and provide a platform for
automating many core business processes globally.
“Manufacturing is best done where resources and labor are easily and cost
efficiently sourced. However, we increasingly see back-office processes being
centralized to take advantage of reduced risk, increased control and
standardized processes. The key to doing this is to work with a partner who has
proven global capabilities. Starting with automated invoice processing, this
manufacturer can immediately maximize its existing investments in SAP, whilst
reducing invoice processing cycle times and improving control over the finance
function,” says Per Åkerberg, President and CEO of ReadSoft.
Within this press release, ReadSoft’s customer in the transaction or co
-operation is not mentioned by name. This is due to the fact that they have
requested to remain anonymous. This is information of the type that ReadSoft AB
(publ) is obligated to disclose in accordance with the Swedish Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
submitted for publication on December 9, 2013 at 13:00 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
About ReadSoft
ReadSoft is a leading provider of applications for automating business
processes. ReadSoft’s software enables companies to automate document processes
such as accounts payable processing (http://www.readsoft.com/purchase-to
-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx),
document sorting (http://www.readsoft.com/software-products/document
-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx).
ReadSoft is by far the world’s number one choice for automated invoice
processing (http://www.readsoft.com/software-products.aspx), especially into
business systems from SAP (http://www.readsoft.com/default/sap-solutions) and
Oracle (http://www.readsoft.com/default/oracle-solutions). Since the start in
1991, ReadSoft has grown to a worldwide group with operations in 17 countries on
six 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 Stockholm’s Small Cap list. For more information about ReadSoft, please
visit www.readsoft.com.