ReadSoft signs financial process automation agreement worth 617,000 USD with global engineering and construction services company

ReadSoft signs financial process automation agreement worth 617,000 USD
with global engineering and construction services company

The North American based organization has selected ReadSoft's next
generation solution, PROCESS DIRECTOR, to streamline multiple financial
processes inside SAP, including invoice processing, payment approvals
and P-cards.  The agreement is worth 617,000 USD and was signed during
the first quarter of 2011.

This global engineering and construction management company delivers
project-based services to its clients requiring the submission of
detailed documentation of expenditures with customer billings in order
to receive payment for services. As a highly manual operation, a large
staff became necessary to swiftly execute manual invoice processing. 
With invoice processing speeds ultimately impacting the organization's
receivables, the company needed a streamlined, financial processing
solution. Objectives included lower invoice cycle-times, improved
accuracy and the elimination of manual processing. ReadSoft, with
thousands of references worldwide, was deemed the market leader within
the SAP segment by the customer, providing the most complete financial
automation solution to accomplish its goals.    
With ReadSoft's PROCESS DIRECTOR solution seamlessly integrated into the
customer's SAP system, the company can achieve faster and less expensive
financial processing and increased control. As invoices are paid
quicker, documentation is readily available to share with clients,
resulting in faster payments for its services. 
“This customer's unique processing requirements clearly showcase how
accounts payable inefficiencies can strongly impact a company's bottom
line,” says Jan Andersson, President and CEO of ReadSoft.  “PROCESS
DIRECTOR will provide the speed, control and accuracy this organization
requires to achieve leaner, more efficient financial processing.”
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 13, 2011 at 3:30pm 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)