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ReadSoft Signs Agreement Worth 220,000 EUR with Global Manufacturing Company in Brazil

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ReadSoft AB

Sodra Kyrkogatan 4, Helsingborg, 252 23, Sweden

Original Press Release

ReadSoft Signs Agreement Worth 220,000 EUR with Global Manufacturing Company in Brazil

Press release date: June 12, 2014

ReadSoft has a worldwide frame agreement with a global leading manufacturing company. The frame agreement includes a global roll-out of ReadSoft's SAP®-certified invoice automation solution PROCESS DIRECTOR to the customer's different business units. Next in line getting their accounts payable processes harmonized and streamlined is the business unit in Brazil. This agreement is worth 220,000 EUR and was signed during the second quarter of 2014.

The manufacturing company is a global market leader with their head office in Europe with approximately 50,000 employees in more than 100 countries. The company is continuously striving to reduce cost and provide transparency across its invoice process and is therefore implementing one best practice solution globally to automate its accounts payable operations. With ReadSoft's flexible solution seamlessly integrated into the customer's SAP ERP-system, the company looks forward to a more efficient and streamlined invoice process with greater visibility and control across the enterprise.

ReadSoft has a dedicated and specialized team for global projects to assist and manage international roll-outs and a simplified maintenance set-up. This team often works in close collaboration with the customer's offices around the world to ensure an efficient deployment process and cost savings. These factors are often important for large multinational companies, and were attractive to the client in the selection process.

"I'm delighted to we can help another company that is a world-leader in its field to achieve even greater efficiencies," says Per Åkerberg, President and CEO of ReadSoft. "Our leading solution for invoice automation is well proven and we have the capabilities to assist in the deployment across many regions and countries enabling streamlined processes and cost savings for the customer. We look forward to working closely with them to help them achieve their goals," finishes Åkerberg.

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 12, 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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