Chemical production giant chooses ReadSoft in 377,000 USD deal

Chemical production giant chooses ReadSoft in 377,000 USD deal

A world-class producer of vinyl products, industrial chemicals and
plastics, and performance products has chosen ReadSoft to automate its
invoice processing. The deal is worth 377,000 USD and was signed in
North America during the second quarter of 2011.

With North American plants spread throughout the US and worldwide annual
sales of more than EUR 4 billion, the chemical manufacturer has
industrial sites all over the world, and over 10,000 employees. The
company chose ReadSoft due to its market leading solution features and
their vision of financial process automation which can help them to
improve their efficiency and save costs for both today and the future of
their operation. The ReadSoft road map of AP and financial process
automation solutions was key to the long term future of the department.
It recognized ReadSoft's unparalleled track record of hundreds of global
implementations within SAP environments with many projects being started
in the US or in Europe so they selected the leading solution provider to
spearhead its invoice processing initiative. By automating its invoice
processing seamlessly within SAP, the company looks forward to reduced
invoice processing cycle times and improved visibility and control over
invoices.
“Time and again, organizations have recognized the need to standardize
processing among multiple business units for leaner, more cost-effective
operations,” says Jan Andersson, President and CEO of ReadSoft. “We look
forward to playing an integral role in this customer's efficiency
strategy and catapulting their invoice processing initiatives to
success. We are confident that with the combination of our proven
solution and our competent team, the project will be a significant
success for all involved.”
As follows of this press release, ReadSoft's counterparty in the
transaction or co-operation is not mentioned by name. This is due to
that ReadSoft's counterparty has required to be anonymous.
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 July 6, 2011 at 13:30 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)