ReadSoft signs invoice automation agreement worth 480,000 USD with North American oil and gas producer

One of the largest independent oil and gas producers in the US has selected
ReadSoft’s SAP®-certified invoice automation application to streamline its AP
operations and enable greater processing efficiencies. The agreement was signed
during the third quarter and is worth 480,000 USD.

The company recognized a need for an automated workflow application, and
ultimately selected ReadSoft’s SAP-certified PROCESS DIRECTOR for Accounts
Payable (AP), due to the application’s tight integration with the company’s
existing SAP system. By automating its invoice processing seamlessly within SAP,
the organization looks forward to lower invoice processing cycle times and
improved visibility and control.
The implementation of ReadSoft’s invoice automation technology will take place
while the organization centralizes all of its AP operations into a shared
service center. Deploying AP automation within a shared services environment
will not only enable the company to consolidate and simplify AP operations, but
will also streamline its processing infrastructure to support future growth.
“We are pleased to play an integral role in this company’s migration to a
regional AP shared services model,” says Per Åkerberg, President and CEO of
ReadSoft. “Time and again we have seen this model, coupled with our automation
applications, deliver compounded efficiency gains and long-term cost savings.”
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 August 15, 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 simplifies business for organizations of all sizes with
applications for business processes such as accounts payable
automation (http://www.readsoft.com/solutions/by-department/accounts-payable
-automation), accounts receivable (http://www.readsoft.com/solutions/automation
-for-sap/accounts-receivable), sales order
processing (http://www.readsoft.com/solutions/automation-for-sap/sales-order
-processing-sap), and multichannel mailroom
automation. (http://www.readsoft.com/solutions/document-process
-automation/mailroom-automation) Its on-premises and cloud document process
automation solutions (http://www.readsoft.com/solutions/document-process
-automation/mailroom-automation) enable some of the world’s largest corporations
as well as small and medium businesses to compete and thrive in today’s
environment by improving customer and supplier satisfaction, increasing
operating efficiency, and providing greater visibility into business processes.
ReadSoft is the world’s number one choice for invoice processing
automation (http://www.readsoft.com/solutions/document-process
-automation/invoice-processing), and its applications integrate seamlessly with
ERP systems from SAP (http://www.readsoft.com/solutions/automation-for-sap/sales
-order-processing-sap), Oracle (http://www.readsoft.com/solutions/automation-for
-oracle-e-business-suite), Microsoft (http://www.readsoft.com/solutions/document
-process-automation/invoice-processing-for-microsoft-dynamics), as well as with
many other business systems. Since 1991, the company has grown into a worldwide
group, delivering industry expertise and support in 17 countries on six
continents through its local and global partner network. ReadSoft is
headquartered in Helsingborg, Sweden, and its share is traded on the NASDAQ OMX
Stockholm’s Small Cap list. Visit www.readsoft.com.