ReadSoft enters into global partnership with OB10 through new partner agreement

ReadSoft enters into global partnership with OB10 through new partner
agreement

ReadSoft, a leading global provider of software solutions for document
process automation and OB10, the world's leading e-Invoicing network,
today announced a new global partnership. Working together, ReadSoft and
OB10 have developed a comprehensive, end-to-end business process
solution that will integrate seamlessly with SAP, Oracle and other
leading financial and ERP systems using the ReadSoft INVOICE COCKPIT
Suite as a universal invoice hub to control all invoice processing
irrespective of document format. The solution will drive lower costs and
greater automation across the P2P process and help customers move to
more advanced and efficient business processes.

The partnership, which already shares many mutual customers, will
provide organizations with the capability to streamline and optimize
their invoice and document automation process and benefit from improved
efficiency and transparency within the financial supply chain. The
partnership also enables leading systems integrators and business
process outsourcers (BPOs) to provide enterprise customers and suppliers
with an end-to-end common business process for all their invoicing
requirements.
ReadSoft's world leading accounts payable and receivable solutions will
together with OB10's best practice supplier enrolment and ability to
handle any data format become more accessible to a wider range of
businesses. This in turn increases benefits to buyers, suppliers and
systems integration specialists. Moreover, this partnership accelerates
the migration to truly paperless electronic invoicing, ensuring that
Readsoft customers are enabled to take full advantage of the benefits in
terms of cost, visibility and speed provided by e-Invoicing.
Peter Hörwing, Senior Vice President, Sales and Marketing at ReadSoft,
commented: “Our partnership with OB10 builds on our business model of
working with best-in-class organizations to create and deliver more
efficient end-to-end business process solutions. This partnership
demonstrates ReadSoft's leadership in the AP market and our ability to
provide a guaranteed service to our customers whatever the mix of EDI,
electronic and paper, and manage the whole end-to-end process.”
OB10's e-Invoicing network is operational across Europe, North America
and Asia, supporting most local language requirements, and meets local,
legal and tax compliance regulations.
ReadSoft's unique integration capabilities and end-to-end business
solutions allow efficient management of the accounts payable and
accounts receivable process, including e-Invoicing, contract management
and advanced payments. By combining document process automation with the
global e-Invoicing network, enterprises can drive compliance, gain
greater control over spend and maintain transparency across the
financial supply chain.
Luke McKeever, CEO, OB10, commented: “This new global alliance between
our organizations creates an opportunity for buyers, suppliers and
systems integrators to work with the leading organizations in their
fields. OB10's ability to handle any data format and supplier enrolment
expertise ensures that all suppliers can benefit from document
automation and e-Invoicing through ReadSoft.”
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 June 29, 2011 at 10:00 CET.

For additional information, please contact:
ReadSoft
AB                                                                      
                                  
Jan Andersson, President and CEO                                       
Phone: +46 708 37 66 00
Peter Hörwing, Senior Vice President, Sales and Marketing
Phone: +46 733 37 86 70
Johan Holmqvist, Vice President, Corporate Communications
Phone: +46 708 37 66 77
Email:
johan.holmqvist@readsoft.com (johan.holmqvist@readsoft.com)             
                      
OB10 Company
Contact:                                                                
 OB10 Press Contact:
Andrew Hamilton, Head of Marketing, EU, OB10                            
Nick Bolshaw, Rostrum Communications
Tel: +44(0)20 7632
5883                                                                    
 Tel: +44(0)207 392 2632
Email:
andrew.hamilton@OB10.com (andrew.hamilton@OB10.com)                     
                              Email:
nick@rostrumpr.com (nick@rostrumpr.com)
Website: www.OB10.com (http://www.ob10.com/)