ReadSoft Signs Agreement Worth 242,000 EUR with Leading Belgian Company

HELSINGBORG, Sweden--()--Regulatory News:

ReadSoft: (STO:RSOFB)

A leading Belgian company in the DIY (do-it-yourself) market has chosen to implement ReadSoft’s product PROCESS DIRECTOR for Accounts Payable to automate their end-to-end process of handling incoming invoices. The deal is worth 242,000 EUR and was closed in cooperation with ReadSoft’s partner Dynatos. The agreement was signed during the fourth quarter of 2012.

This new customer is processing hundreds of thousands of invoices every year and will start using ReadSoft’s product PROCESS DIRECTOR for Accounts Payable to streamline their invoice processing in SAP®.

The customer sought an automation solution with seamless integration into their SAP environment to streamline its accounts payable (AP) operation and enable greater processing efficiencies across their organization. The company recognized ReadSoft’s unparalleled track record of thousands of implementations within SAP environments and therefore selected ReadSoft’s SAP-certified invoice automation solution to spearhead its invoice processing initiative. By automating its invoice process, the customer’s accounts payable personnel will be able to reduce manual invoice handling and cycle times, improve visibility and maximize control over their invoices and related financial processes.

This agreement was closed together with ReadSoft’s business partner Dynatos, who will be performing the implementation project. Based on ReadSoft’s best practice project approach and Dynatos’ ability to deliver implementations in standard SAP environments for accounts payable processing, the implementation will be delivered within the requested time frame, which proved to be one of the decisive factors in the customer’s selection process.

“As companies strive to achieve more with less, we deliver technology to help maximize their existing investments in SAP,” says Per Åkerberg, President and CEO of ReadSoft. “We are excited to deliver flexible, user-friendly AP automation technology to end users within this organization, allowing them to conduct faster, less expensive financial operations all within their native SAP environment.”

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 3, 2013 at 14:30 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, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. 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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Contacts

ReadSoft AB
Johan Holmqvist, Vice President, Corporate Communications
Phone: 46 708 37 66 77
Email: johan.holmqvist@readsoft.com

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Contacts

ReadSoft AB
Johan Holmqvist, Vice President, Corporate Communications
Phone: 46 708 37 66 77
Email: johan.holmqvist@readsoft.com