Leading food manufacturer signs agreement for invoice automation solution with ReadSoft worth over 975,000 USD

A premier producer and distributor of branded food products has selected
ReadSoft’s invoice automation solution with Oracle® validated integration to
gain greater processing efficiencies in its accounts payable operations. The
deal is worth 975,000 USD and was signed in the fourth quarter of 2013.

Coping with an AP process that could no longer handle its growing needs, the
company realized the demand for an enhanced invoice processing solution that
could easily integrate with its Oracle E-Business Suite enterprise resource
planning (ERP) system.  The goal was to expand its AP processing solution to
support multiple operating locations around the world.  Implementing a mobile
invoice approval method to accommodate distributed locations and better
equipping its suppliers by establishing a gateway to self-service access of
invoice payment status were also focal points.
After researching available options, the company gravitated towards ReadSoft
because of its ability to easily support the organization’s global footprint and
ReadSoft’s proven performance with seamless integrations into Oracle E-Business
Suite.  By selecting ReadSoft’s invoice automation, mobile approval and supplier
web portal solutions, the organization will achieve faster invoice approval
enablement, reduced invoice cycle time and improved vendor relationships.
“Keeping up with the demands of a growing AP operations is critical to the
success of an organization,” says Per Åkerberg, CEO of ReadSoft.  “This company
recognized the need to advance its AP process in order to maintain best-in-class
status and achieve dramatic efficiency gains in their invoice processing
solution.”
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 January 7, 2014 at 10:00 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 global provider of applications for automating business
processes in the cloud  (http://www.readsoft.com/solutions/document
-processing/capture-in-the-cloud)or on premise. ReadSoft is by far the world’s
number one choice for invoice processing
automation (http://www.readsoft.com/solutions/document-processing/invoice
-processing), especially into business systems from
SAP (http://www.readsoft.com/solutions/automation-for-sap) and
Oracle (http://www.readsoft.com/solutions/automation-for-oracle). ReadSoft’s
software enables companies to automate document processes such as accounts
payable processing (http://www.readsoft.com/solutions/by-department/accounts
-payable), and mailroom automation (http://www.readsoft.com/solutions/document
-processing/mailroom-automation). 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