STOCKHOLM, Sweden, Feb. 5, 2003 (PRIMEZONE) -- ReadSoft has closed a significant deal with a leading European financial organization. The software FORMS has been chosen to automate the processing of vast volumes of bank notes, checks and loan applications. The initial order value exceeds 600,000 USD and concerns installations in one European country.
The financial organization, with activities all over Europe, has carefully compared ReadSoft's offerings to those of the competitors in order to decide on the best solution. ReadSoft's software will abolish the time-consuming manual processing of paper forms such as loan applications, checks and various financial notes.
Jan Andersson, MD of ReadSoft, commented: "This order is important to ReadSoft. It is one of our largest orders to date and it presents great potential for the years to come. At this point, the order concerns one European country only, but it is the intention of the customer to launch this concept on other European markets later on. Due to competitive reasons the customer wishes to be anonymous at this time."
What is FORMS?
ReadSoft's software FORMS offers organizations substantial savings, increased productivity and improved data quality. FORMS reads handwritten text, machine-print, barcodes, check boxes, circles, tables, matrixes, and even complete addresses. Among other benefits, automatic forms processing is much faster than manual keying of information, offering a quick return on investment.
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 business is based on the concept of e-capture, comprising capture, interpretation, verification, validation, and transfer of all types of information from e-mail, web, fax, and paper, with a minimum of operator intervention. Established in 1991, ReadSoft, first with free form technology for invoices and color document processing, has become the global technology leader, with subsidiaries in 12 countries and partners in an additional 70. We are proud to have the largest and most innovative development department in the industry, with professional services to match. For more information visit www.readsoft.com
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