Major conglomerate in Asia chooses ReadSoft in 670,000 USD invoice processing project

Regulatory News:

ReadSoft Asia has reached an agreement with a significant Asian company that has interests in various industries. ReadSoft will provide an invoice processing solution in an agreement worth 670,000 USD including licenses, implementation, maintenance and support. The deal was signed during the fourth quarter of 2012.

The company will use ReadSoft’s PROCESS DIRECTOR for Accounts Payable solution in their Shared Service Centers, supporting their international operations where it is projected that millions of invoices will be processed every year once rollout is completed. ReadSoft was the company’s preferred option to automate invoice processing due to its superior seamless integration into the SAP system. ReadSoft has extensive experience and competence working with many Shared Service Centers in the region. As the company aimed to standardize accounts payable operations in multiple countries, it recognized ReadSoft’s unparalleled track record of hundreds of global implementations within SAP environments and 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. "Since more than 20 years, we have partnered with companies to replace paper-driven inefficiencies with automated routines that foster growth across Accounts Payable departments and Shared Service Centers by allowing them to process greater invoice volumes while reducing costs,” says Per Åkerberg, President and CEO of ReadSoft. "We have once again shown that we are the leading option for any format and set-up of invoice processing projects.” Within this press release, ReadSoft’s customer in the transaction or co-operation is not mentioned by name.

This is due to the fact that they have requested to remain anonymous. This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on January 2, 2013 at 15:00 CET.

About ReadSoft

ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing (http://www.readsoft.com/purchase-to-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx), document sorting (http://www.readsoft.com/software-products/document-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx). ReadSoft is by far the world’s number one choice for automated invoice processing (http://www.readsoft.com/software-products.aspx), especially into business systems from SAP (http://www.readsoft.com/default/sap-solutions) and Oracle (http://www.readsoft.com/default/oracle-solutions). Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 17 countries on six continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.

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