ReadSoft signs 440,000 USD agreement with North American aerospace company

ReadSoft signs 440,000 USD agreement with North American aerospace
company

One of the world's largest private aerospace companies has chosen
ReadSoft to automate its invoice processing. The deal is worth 440,000
USD and was signed during the second quarter of 2011.

Recognized worldwide as an industry leader in aerospace development, the
North American aerospace company chose ReadSoft due to its experience
and solution features that were able to match exactly their needs for
today and the long term future of financial process automation.
According to independent analysts, the savings potential of invoice
processing automation is immense and can save millions of dollars a year
for a large company. Manual work and time spent on processing invoices
are often expensive and cumbersome. With ReadSoft's solution, these
processes are automatically performed with minimum human intervention.
Invoices are automatically captured and collected on arrival from
different locations and in different paper and electronic formats. They
are then matched to any purchase order, distributed, and sent for
approvals using an automated workflow.
“We are excited and proud to work with this technology-minded company in
such a way that will help achieve their business goals,” says Jan
Andersson, President and CEO of ReadSoft. “We are confident in our North
American team to work with this customer to deliver yet another
successful project in this important market for ReadSoft.
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 July 8, 2011 at 15:30 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)