Finnish service bureau invests EUR 340,000 in ReadSoft's solutions

A large Finnish service bureau, is expanding its use of ReadSoft's solutions for Document Automation. By investing approximately EUR 340,000 more, the company will be able to further automate the invoice handling for their customers. The disclosure of this agreement, the largest for ReadSoft in Finland to date, is accompanied by an announcement that the ReadSoft Oy subsidiary has officially started up in the country.

The Finnish service bureau, who wishes to be anonymous at this time, has grown rapidly, both organically and through acquisitions, in recent years. Moreover, the company anticipates that new legislation in upcoming years concerning requirements for documentation, traceability and electronic invoices will further boost the number of documents that need to be handled. Thus they will invest heavily over the next two years in order to expand successfully.

The relationship with this customers goes back to 2001when they acquired their first ReadSoft license (ReadSoft DOCUMENTS for Forms). The partnership has grown to include ReadSoft DOCUMENTS for Invoices, the expanded electronic invoice processing solution. Those two pieces of software now handle approximately 70 million documents annually for the Finnish service bureau. With the new licenses they expect to process approximately four million invoices a year and thereby work even more efficiently. Looking ahead several years, most of the documents will be handled electronically saving great amounts of both time and money.

ReadSoft did business in the Finnish market even before this collaboration began. But ReadSoft’s Swedish sales company in Stockholm long ran those operations. While ReadSoft has had employees in Espoo since August 2005, it has taken until now to set up its Finnish subsidiary.

“Getting our Finnish business off to such a good start is particularly gratifying,” says ReadSoft CEO Jan Andersson. “Now that we are setting up in Finland, our prospects for additional agreements are even brighter. Many Finnish companies have yet to begin the transition from manual to automatic document handling. Now we can approach them even more effectively than before.”

ReadSoft DOCUMENTS for Invoices

More than ten years of experience with electronic invoice processing has produced the most powerful and by far the most popular (2,000 clients) system on the market. ReadSoft DOCUMENTS for Invoices is a highly profitable investment for just about any business. Fully implemented electronic invoice processing lowers costs by 25-50%. Meanwhile, the process speeds up and employees can devote more time to tasks that correspond to their particular skills. ReadSoft DOCUMENTS for Invoices captures, reads and classifies all incoming formats, whether paper or electronic. The solution, which is customised for simple linkage to leading international enterprise systems, is certified for both SAP and Oracle.

ReadSoft AB
Jan Andersson, President/CEO
Pho: +46-(0)708 - 37 66 00
Jonna Opitz, Vice President, Corporate Communication
Pho: +46-(0)708 - 37 86 68
E-mail: jonna.opitz@readsoft.com
More about ReadSoft on www.readsoft.com

About ReadSoft
ReadSoft is the world’s leading supplier of software for Document Automation. The company develops and markets a complete product platform for Document Automation named ReadSoft DOCUMENTS. The vision is to free businesses everywhere from manual document handling. Since its founding in 1991, ReadSoft has developed into a global group with 11 subsidiaries in Europe, North and South America and Australia, and a large number of local and global partners. ReadSoft is headquartered in Helsingborg, Sweden, and its primary R&D facility is in Stockholm. ReadSoft has been listed on the Stockholm stock exchange since 1999. For more information please visit www.readsoft.com

About Us

ReadSoft is the worldwide market leader in the development and sales of forms processing software, that is, software for the automatic registration and interpretation of data on forms and invoices in paper or electronic format.

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