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Leading Food Manufacturer Signs Agreement for Invoice Automation Solution with ReadSoft Worth over 975,000 USD

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ReadSoft AB
Sodra Kyrkogatan 4
Helsingborg, 252 23
Sweden



Press release date: January 7, 2014

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.”

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 or on premise. ReadSoft is by far the world’s number one choice for invoice processing automation, especially into business systems from SAP and Oracle. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, and 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
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