ReadSoft signs invoice automation agreement worth over 360,000 USD with global food manufacturer

Regulatory News:

A leading global food manufacturer has chosen ReadSoft’s SAP®-certified invoice automation solution to process paper and electronic invoices throughout its North American account payable operations. The agreement is worth 360,000 USD and was signed during the third quarter of 2013 and includes licenses, maintenance and support.

With accounts payable operations decentralized across several North American plants, the company’s paper invoices were typically routed among multiple locations, affording minimal visibility and control over invoice processing. As processing bottlenecks became impossible to locate or forecast, invoice costs and cycle times rose. To reduce these inefficiencies, the organization sought an accounts payable automation solution to streamline manual operations enterprise-wide with automated workflows. As the company aimed to centralize accounts payable operations and standardize invoice processing within its SAP Enterprise Resource Planning (ERP) System, it recognized ReadSoft’s unparalleled track record of hundreds of implementations within SAP environments and selected the leading solution provider to spearhead its invoice processing initiative. By automating its invoice processing seamlessly within SAP, the company looks forward to reduced invoice processing cycle times and improved visibility and control over invoices. "Time and again, organizations have recognized the need to standardize processing among multiple business units for leaner, more cost – effective operations” says Per Åkerberg, CEO of ReadSoft. "We look forward to playing an integral role in this customer’s efficiency strategy and catapulting their invoice processing initiatives to success.” 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 October 3, 2013 at 14:00 CET.

About ReadSoft ReadSoft is a leading global provider of software solutions for document process automation (http://www.readsoft.com/solutions/document-processing) in the cloud (http://www.readsoft.com/solutions/document-processing/capture-in-the-cloud)or on premise. ReadSoft is by far the world’s number one choice for invoice processing automation (http://www.readsoft.com/solutions/document-processing/invoice-processing), especially into business systems from SAP (http://www.readsoft.com/solutions/automation-for-sap) and Oracle (http://www.readsoft.com/solutions/automation-for-oracle). ReadSoft’s software enables companies to automate document processes such as accounts payable processing (http://www.readsoft.com/solutions/by-department/accounts-payable), and mailroom automation (http://www.readsoft.com/solutions/document-processing/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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