Global chemical manufacturing company automates invoice process through 400,000 USD agreement with ReadSoft

ReadSoft North America will streamline a global chemical manufacturing company’s
manual, paper-intensive invoice process with an invoice automation solution
certified to run seamlessly in its SAP environment. The invoice automation deal
is worth 400,000 USD and was signed during the second quarter of 2012.
This world-leading manufacturing company receives service invoices, physical
material invoices and freight invoices primarily in paper format at
decentralized manufacturing plants, jumpstarting a repetitive manual invoice
process. Paper invoices are scanned upon receipt, routed for approval and mailed
to a centralized AP processing center where the invoices were scanned a second
time and entered into SAP.
With a time and labor-intensive process in place, the company sought an invoice
automation solution to eliminate the costly supply chain setbacks associated
with paper invoice processing, including limited visibility and control over
invoices and lengthy invoice processing cycle times. To gain critical control
over its AP process, the organization recognized ReadSoft’s role in delivering a
more streamlined invoice process, tightly integrated with SAP and equipped with
invoice processing reporting capabilities to track consistent progress and ROI.
“We see this time and again where organizations engineer complex, manual invoice
processes out of necessity, but the results inhibit efficiency to fuel long-term
growth,” says Per Åkerberg, President and CEO of ReadSoft. “We look forward to
playing an important role in the success of this customer’s business by helping
to re-engineer their AP process to save time and money and fuel growth in the
long-run.”
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 29, 2012 at 13:00 CET.
For additional information, please contact
ReadSoft
AB

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 (http://www.readsoft.com/purchase-to
-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx),
document sorting (http://www.readsoft.com/software-products/document
-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx).
ReadSoft is by far the world’s number one choice for automated invoice
processing (http://www.readsoft.com/software-products.aspx), especially into
business systems from SAP (http://www.readsoft.com/default/sap-solutions) and
Oracle (http://www.readsoft.com/default/oracle-solutions). 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.