Continued success for ReadSoft in French retail industry

Continued success for ReadSoft in French retail industry Once again, a leading French retail group has chosen ReadSoft's technology for electronic invoice processing. The ReadSoft solution will accelerate accounts payable processes at Bricorama, a French retail group specializing in do-it-yourself products. Bricorama has used EDI for several years to process invoices from 10 percent of their suppliers. With ReadSoft's INVOICES solution, Bricorama will be able to process all their suppliers' invoices and exchange information with their ERP system. The volume of invoices is 250.000 annually and the order value amounts to 180.000 USD. Bricorama has a turnover of 800 million euro per year and 80 stores all around France. Their ambition has been to use EDI (Electronic Data Interchange) to receive invoices from all their suppliers. However, this failed since there were so many different technical standards among Bricorama's suppliers. Instead, the financial management decided to find a complement to EDI that could abolish manual keying of supplier invoices and facilitate automatic matching against order and delivery data in the their ERP system. Their choice was the document automation solution INVOICES from ReadSoft which is expected to give a return on investment in a mere 18 months. The financial department of Bricorama comments their choice: "We discovered considerable advantages with this solution. We are instantly able to free 30% of the staff from manual keying and checking invoices. Secondly, we substantially improve and secure the purchasing process. Thirdly, by using ReadSoft's unique ability to automatically match huge volumes of information on individual invoices with purchase orders we accelerate productivity massively. That really made the difference." Another important factor for Bricorama was a fast and smooth implementation process. Live tests and ReadSoft's strong reference list in France and in the retail industry have proven the stability and performance of the solution. What is INVOICES? The INVOICES software is designed to recognize unstructured invoice documents and capture data such as sender, invoice number and invoice amount from anywhere on the invoice. At the same time, the software checks the data against information in the customer's business system. ------------------------------------------------ For more information, please contact --------------------------------------- ReadSoft AB Jan Andersson, President/CEO Pho: +46-(0)708 - 37 66 00 Olof Engvall, Vice President, PR & Communication Pho: +46-(0)708 - 37 66 70 E-mail: olof.engvall@readsoft.com About ReadSoft 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. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/05/20040804BIT21690/wkr0001.pdf