Lockheed Martin selects ReadSoft to process invoices into SAP R/3

The American company Lockheed Martin is one of the major suppliers of advanced technology systems in the world. Their Shared Services Center in Lakeland, Florida, which handles back office processes for 40 business units across the United States, has selected ReadSoft DOCUMENTS for Invoices to handle the processing of 400,000+ paper invoices annually.

After watching OCR technology progress over the last few years, representatives from Lockheed Martin attended the annual International Accounts Payable Professionals (IAPP) conference to gain more knowledge of such vendors.

ReadSoft was the best fit to process Lockheed Martin’s invoices due to its SAP certification. Lockheed Martin plans to eventually process all business units’ invoices into SAP through ReadSoft DOCUMENTS for Invoices.

The first business unit is processing 77,000 invoices per year and will be running on ReadSoft software in early 2006. Lockheed Martin anticipates having the remaining business units up and running by year-end.

“Shared service centers, like the one of Lockheed Martin, generate huge savings when using Document Automation technologies like ReadSoft DOCUMENTS for Invoices,” says Jan Andersson, CEO at ReadSoft. “We have a tremendous amount of respect for Lockheed Martin and the way they do business and are pleased to help make them more efficient.”

About Lockheed Martin:
Headquartered in Bethesda, Maryland, Lockheed Martin employs about 135,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion.

ReadSoft AB
Jan Andersson, President/CEO
Pho: +46-(0)708 - 37 66 00
Jonna Opitz, Vice President, Corporate Communication
Phone: +46-(0)733 - 37 86 68
E-mail: jonna.opitz@readsoft.com

More about ReadSoft at www.readsoft.com
ReadSoft is the world’s leading supplier of software for Document Automation. The company develops and markets a complete software 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.

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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