ReadSoft signs US$ 800,000 deal with a government organization in Australia

ReadSoft, together with one of its partners in Oceania, will implement document automation solutions at an Australian government organization to automate its accounts payable operations. The order, which covers the processing of more than two millions invoices annually, is worth approximately US$ 800,000.

This government organization in Australia was looking for a technology solution that could improve its productivity efficiencies by extending its accounts payable operations to also automatically read and process supplier invoices. The implementation of the solution will be rolled out to 19 agencies and is expected to be completed by December 2010.


With the new ReadSoft solution, incoming invoices will be automatically captured and processed, eliminating inefficient accounts payable processes such as data entry, data verification, and manual distribution of invoices or other related documents. This results in significant cost savings, reduced handling time, and enhanced control over the accounts payable process - an overall more efficient way of processing invoices.


"We are pleased to be able to support our partner in helping this Australian government organization to improve the efficiency of their accounts payable processes," says Jan Andersson, President and CEO of ReadSoft. "More and more government organizations are seeing the benefits of document automation solutions. This cooperation demonstrates once again ReadSoft's commitment to both building strong relationships with its partners as well as strengthening its position in the Oceania market."



For additional information, contact:


ReadSoftAB

Jan Andersson, CEO, ReadSoft

Phone: +46 708 - 37 66 00

Jonna Opitz, Vice President, Corporate Communications

Phone: +46 733 - 37 86 68

jonna.opitz@readsoft.com


About ReadSoft

ReadSoft is a leading global provider of software solutions for Document Automation. ReadSoft's software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world's number one choice for invoice automation solutions. 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 Nordic Exchange Small Cap list. For more information about ReadSoft, 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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