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ReadSoft Signs Agreement with Leading Hardware Chain Worth 330,000 USD

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ReadSoft AB
Sodra Kyrkogatan 4
Helsingborg, 252 23
Sweden



Press release date: January 3, 2014

A multinational hardware company that prides itself on being local to the community has entered into an agreement with ReadSoft North America to streamline its accounts payable workflow with ReadSoft’s SAP«-certified process automation solution. The deal is worth 330,000 USD and was signed in the fourth quarter 2013.

Given the high volume ordering of goods for its retail stores, managing a manual process had become time-consuming and burdensome for the neighborhood hardware chain. Problem resolution communication between the purchase and requisition team and the merchandising and supply chain team was handled via email and spread sheets with follow up of manually generated accounting documents to resolve variances.

To replace its manual process, the company sought an automated workflow solution to handle exception processing and dispute resolutions. Because of the unique processing required for its retail chain stores, the organization also needed a solution provider who could incorporate distinct requirements into its AP process. The consideration of this solution working inside its SAP Enterprise Resource Planning system was also a factor. ReadSoft was recognized as a vendor that could easily handle the task at hand because of its vast experience with tailored solutions and its seamless integration with SAP.

“Because of the large volume of goods ordered on an ongoing basis, it is not uncommon for large retail chains to experience unmanageable purchasing processes,” says Per ┼kerberg, President and CEO of ReadSoft. “By making the decision to automate its manual process, this company will enjoy easier management over its AP operations while gaining control and real-time visibility over its purchase-to-pay process.”

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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