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Large Travel Group Chooses ReadSoft in 1.6 MEUR Deal

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ReadSoft AB
Sodra Kyrkogatan 4
Helsingborg, 252 23
Sweden



Press release date: June 10, 2014

One of Europe’s largest travel groups has chosen ReadSoft to automate their full financial suite in SAP in an initial deal worth 1.6 MEUR. The agreement was signed during the second quarter of 2014.

Due to the customer’s market, spanning multiple companies, countries and processes, keeping on top of their finance situation is both complex and critical. With millions of invoices, documents and remittances each year, it was important to choose an experienced partner that could handle multiple processes within a SAP certified, full end-to-end finance suite solution. This means that important finance processes, within SAP are automated. Of course, with a business of this complexity, the overriding control of master data is also important and the ReadSoft solution does just that.

The deal, ReadSoft’s largest so far in 2014 and one of the largest in ReadSoft’s history, covers licenses, services and maintenance. During the competitive sales process, ReadSoft was selected not just due to the breadth and depth of its automation software - but the close-knit international community of ReadSoft consultants. These consultants provided the expertise and surety that the solution was the right one both now and in to the future.

”This win demonstrates ReadSoft’s strength in SAP end-to-end business process automation,” said Per Åkerberg, President and CEO of ReadSoft. “This customer has taken advantage of ReadSoft’s strategic vision that major organizations should maximize their return on investment by automating their financial business processes.”

Simon Shorthose, Managing Director of ReadSoft UK added: “The international aspect of ReadSoft’s solutions and experienced consulting network was critical in selection. Having great software is only a piece of the puzzle - having knowledgeable people and a reliable business partner is also key.”

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 June 10, 2014 at 09:00 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, accounts receivable, sales order processing, and multichannel mailroom automation. Its on-premises and cloud document process automation solutions 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, and its applications integrate seamlessly with ERP systems from SAP, Oracle, Microsoft, 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.  
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