Leading Brazilian Realty Group Invests 640,000 USD in ReadSoft's Solutions for Invoice Automation

One of the leading realty groups in South America with its base in Brazil has selected ReadSoft's SAP-certified invoice processing solution to process hundreds of thousands of documents per year. The customer will implement the solution at four companies belonging to their Group in order to accelerate the processing of paper and electronic invoices inside SAP. The agreement is worth 640,000 USD and was signed during the second quarter of 2011.

With hundreds of different sites all over Brazil, the customer sought a more standardized accounts payable (AP) process. And with a very large amount of invoices being received every year, the company saw an opportunity to increase its efficiency, visibility and control over invoices, while saving time and money, by automating their invoice processing.The implementation of the project is planned to start in June.

After a thorough evaluation of a number of vendors, the company chose ReadSoft's INVOICE COCKPIT Suite, a SAP-certified invoice processing solution seamlessly integrated with SAP. The company required a solution with high integration level with SAP, and was convinced that ReadSoft was capable of delivering a solution that met this requirement. ReadSoft's invoice processing solution works inside the SAP system, thus reducing training effort and time to go live. Moreover, ReadSoft has thousands of references who have successfully implemented similar solutions in the past.

"Companies turn to us for our extensive invoice processing experience, competence and capability to perform complex implementations across the globe," comments Jan Andersson, President and CEO at ReadSoft. "We look forward to working with this client to provide the most efficient invoice automation solutions and services helping them reach their AP targets."

For additional information, please contact

ReadSoft AB

Jan Andersson, President and CEO

Phone: 46 708 37 66 00

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 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 16 countries on five 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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