ReadSoft signs 312,000 USD invoice automation deal with top fund manager

ReadSoft signs 312,000 USD invoice automation deal with top fund manager

A leading global investment fund management company that manages
billions of dollars worth of clients' funds has chosen to automate its
invoice processing with ReadSoft. The invoice automation deal is worth
312,000 USD and was signed during the second quarter of 2011.

The North American-based company offers institutional and intermediary
clients and individual investors complementary asset management
disciplines including growth and risk-managed strategies. The company's
decision to automate its invoice processing with ReadSoft came due to
discussions with successful ReadSoft customers in North America and
ReadSoft's strong solution features and excellent reputation in the this
particular application.
Manual work and time spent on processing invoices are often expensive
and cumbersome. With ReadSoft's solution, these processes are
automatically performed with minimum human intervention. Invoices are
automatically captured and collected on arrival from different locations
and in different paper and electronic formats. They are then matched to
any purchase order, distributed, and sent for approvals using an
automated workflow. According to independent analysts, invoice
processing automation can save millions of dollars a year for a large
company.
“We are delighted to be able to help this leading investment fund
manager to improve efficiency and save costs in their invoice
processing,” says Jan Andersson, President and CEO of ReadSoft. “We have
proven this for thousands of other customers so we are confident we can
help them achieve their business goals, which means the project will be
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 7, 2011 at 12:30 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)