ReadSoft to Deliver Invoice Automation Technology in SAP to Global Engineering Company Through Deal Worth 285,000 EUR
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Press release date: June 12, 2012
One of the world's leading high technology manufacturing companies will streamline its end-to-end accounts payable process with ReadSoft's SAP®-certified invoice automation solution. The agreement is an extension of an existing contract and is worth over 285,000 EUR. The deal was signed during the second quarter of 2012.
ReadSoft was selected because of its world-leading position within AP automation for SAP. Its effective integration into SAP and proven track record with thousands of references worldwide played a large part in the customer's decision process. ReadSoft's presence on this particular customer market also played an important role since ReadSoft is able to provide global and local support. The fact that ReadSoft plays an important role in the AP automation market gave the customer the security they needed to select ReadSoft as their vendor of choice.
ReadSoft's software will help the customer's employees to become more cost-efficient, to improve their business flow and control, and to shorten the total AP processing time. The company's objective is to eliminate the labor-intensive steps by optimizing their AP efficiency while leveraging the investments already made in SAP. This client was also looking for an invoice automation solution that could guarantee a fast return on their investment, and with ReadSoft this means less than a year.
"The investment that large companies are willing to make in our solutions is a clear statement that our products fit the technology direction of leading companies," says Per Åkerberg, President and CEO of ReadSoft. "With PROCESS DIRECTOR which is our single platform for handling multiple processes in SAP we help our customers to be more cost-efficient, improve control and shorten their total processing time. We look forward to work with this company in realizing their goals - to achieve best-in-class Accounts Payable and invoice automation practices," finishes Per 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, 2012 at 14:30 CET.
For additional information, please contact:
Johan Holmqvist, Vice President, Corporate Communications
Phone: 46 708 37 66 77
ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft's software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world's number one choice for automated invoice processing, especially into business systems from SAP and Oracle. 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.