ReadSoft announces new organizational structure and new members of the Executive Management Team

ReadSoft makes organizational changes to create a functional company that better utilizes the potential and processes of the ReadSoft Group. Sales and marketing will be organized into four regional units. The five development labs will be merged into two main solution labs and there will be one Chief Technology Officer (CTO) and one Chief Operating Officer (COO). The organizational changes with new functions are effective immediately, all functions will be reporting to the President and CEO, and this will be reflected in the Executive Management Team.

“We have been working on this for quite some time to achieve a more efficient, agile and process-oriented organization,” says Per Åkerberg, President and CEO of ReadSoft AB. 

ReadSoft’s new functional organization will take ReadSoft from a legally managed organization with autonomous subsidiaries in 16 countries to a more operationally managed Group. The subsidiaries will be clustered into four geographical regions, where synergies and deployment effects will be more easily achieved. These regions are; Northern Europe including the subsidiaries Sweden, Norway, Denmark, Finland and Benelux; EMEA including the UK, France, Germany, Spain and Switzerland; North America including the USA and Canada; and Latin America & Asia/Pacific including Chile, Brazil, Asia and Oceania. 

The five solution labs available today will be reorganized into two labs: one for Capture Automation consisting of the former solution labs Capture, Online and XBOUND and one for ERP Automation consisting of the former SAP and Oracle solution labs. This change will make the company more efficient, and create synergies and opportunities to develop even better joint functions.

ReadSoft is also appointing a Chief Technology Officer (CTO) with the objective to take charge of and manage ReadSoft’s long-term directions for products and solutions, including domain expertise, and operational performance of the ReadSoft solution labs.

ReadSoft will gather most of the corporate functions in one unit, headed by a Chief Operating Officer (COO). These corporate functions will include Product Management, Global Market Communication, Strategic Marketing and Lead Generation, Corporate Consulting Services, Corporate Sales and Global Support & Customer Care. By doing so, these corporate functions will support ReadSoft’s global organization in a better and synchronized way. 

The Finance & Administration, Corporate Communications and Human Resources departments remain intact in structure and functions. 

“The new organization is a natural step in our continuous ambition to be more customer-focused, efficient and process-oriented, and it will not change ReadSoft’s goals and strategies”, says Per Åkerberg, ReadSoft’s President and CEO. “I am convinced that we will be an even more attractive company for our customers, partners and employees,” finishes Per Åkerberg. 

The new Executive Management Team reflects the organizational changes and includes the new functions of the geographical regions, the two solutions labs and the CTO and COO. All functions listed below will report to ReadSoft’s President and CEO, Per Åkerberg. 


ReadSoft’s Executive Management Team as from May 21, 2012:

* New member of the Executive Management Team  


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 May 21, 2012 at 14:10 CET.

For additional information, please contact:

ReadSoft AB                                                                                                         
Per Åkerberg, President and CEO
Phone: +46 42 490 21 00
Johan Holmqvist, Vice President, Corporate Communications
Phone: +46 708 37 66 77 
Email: johan.holmqvist@readsoft.com 

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 16 countries on five 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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