STOCKHOLM, Sweden, August 20, 2003 (PRIMEZONE) -- The Scandinavian airline group SAS has decided to implement ReadSoft's software for electronic invoice processing. The INVOICES software will enable SAS to cut down on invoice handling costs and increase invoice processing efficiency. The new agreement concerns implementing the INVOICES technology within the SAS group.
Always looking to increase efficiency, SAS has decided to implement electronic invoice handling by using ReadSoft's patented technology. In the initial stage, INVOICES will process some 200,000 invoices per year. The software will be connected to an account authorization system from Component Software and thereafter integrated with a business system from Oracle.
"Airlines are like many other businesses depending heavily on paper which makes our solution very suitable. It is very rewarding to be able to help SAS strengthen their business processes by this group agreement. We will monitor the roll-out of INVOICES within SAS carefully to assure customer satisfaction," says Jan Andersson, MD at ReadSoft.
ReadSoft has almost 600 INVOICES customers all over the world. Some of them have been able to cut down on their invoice processing costs by as much as 50%.
Ulla Edlund, Vice President Corporate Accounting at SAS, explains why they chose INVOICES: "There is a great potential for efficiency increases, especially if you consider that we previously handled our invoices manually. Electronic invoice processing has many advantages and it is a great relief to finally get rid of the piles of paper invoices. Choosing ReadSoft came naturally as it is a well-reputed company which has helped us taking a leap forward with this new way of working.
What is INVOICES?
The software INVOICES is designed to recognize unstructured invoice documents and capture data such as sender, invoice number and invoice amount from anywhere on the invoice. At the same time, the software checks the data against information in the customer's business system.
ReadSoft AB
Jan Andersson, MD ReadSoft Pho: +46-(0)708 - 37 66 00 Olof Engvall, Head of Information Pho: +46-(0)708 - 37 66 70 E-mail: olof.engvall@readsoft.com
ReadSoft, is the world's leading supplier of software for document automation and associated information processing. The company develops and markets a broad range of products based on our own products FORMS, INVOICES and EZ-OUT, and supplementary systems developed for them. Since its founding in 1991, ReadSoft has developed into a global group with 11 subsidiaries in Europe, North and South America and Australia, and a large number of local and global partners. ReadSoft is headquartered in Helsingborg, Sweden, and its primary R&D facility is in Stockholm. ReadSoft has been listed on the Stockholm stock exchange, since 1999.
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