A leading multinational energy company invests 350,000 EUR in ReadSoft's accounts payable automation solution

A leading multinational energy company invests 350,000 EUR in ReadSoft's
accounts payable automation solution

The international oil and gas company, an existing customer of ReadSoft,
extends and expands its investment in ReadSoft's SAP-certified solution
in order to automatically process hundreds of thousands additional
invoices per year. The agreement is worth 350,000 EUR and was signed
during the first quarter of 2011.

Operating in more than 100 countries, the company is a major player in
the every aspect of the petroleum and chemical industry. The company is
already reaping the benefits of the accounts payable (AP) automation
solution by ReadSoft. Overall, they have experienced improved levels and
productivity efficiencies within the AP process, and increased customer
service. ReadSoft solution integrates seamlessly with the existing SAP
system, making the technology change easily adaptable by the existing
SAP users.
According to independent analyst, the savings potential of AP automation
is immense and can save millions of dollars a year for a large company.
Manual work and time spent on processing invoices are often expensive
and cumbersome. With ReadSoft's solution, these processes are
automatically performed with minimum human intervention. Invoices are
automatically captured and collected on arrival from different
locations. They are then matched to any purchase order, distributed, and
sent for approvals using an automated workflow.
“It is our pleasure to work with this multinational company in such a
way that will help achieve their business goals,” says Jan Andersson,
President and CEO of ReadSoft. “Expansions of contracts with our
existing customers prove that our solutions bring great value to their
organization and we are confident that with our great solution and our
competent team, the project will be a continued success.”
This information is such that ReadSoft AB (publ) is to publish in
accordance with the Swedish Securities Markets Act and/or the Financial
Instruments Trading Act. The information was submitted for publication
on April 8, 2011 at 3:45pm CET.

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 (johan.holmqvist@readsoft.com)