Global chemical manufacturing company automates invoice process through 400,000 USD agreement with ReadSoft
ReadSoft North America will streamline a global chemical manufacturing company’s manual, paper-intensive invoice process with an invoice automation solution certified to run seamlessly in its SAP environment. The invoice automation deal is worth 400,000 USD and was signed during the second quarter of 2012.
This world-leading manufacturing company receives service invoices, physical material invoices and freight invoices primarily in paper format at decentralized manufacturing plants, jumpstarting a repetitive manual invoice process. Paper invoices are scanned upon receipt, routed for approval and mailed to a centralized AP processing center where the invoices were scanned a second time and entered into SAP.
With a time and labor-intensive process in place, the company sought an invoice automation solution to eliminate the costly supply chain setbacks associated with paper invoice processing, including limited visibility and control over invoices and lengthy invoice processing cycle times. To gain critical control over its AP process, the organization recognized ReadSoft’s role in delivering a more streamlined invoice process, tightly integrated with SAP and equipped with invoice processing reporting capabilities to track consistent progress and ROI.
“We see this time and again where organizations engineer complex, manual invoice processes out of necessity, but the results inhibit efficiency to fuel long-term growth,” says Per Åkerberg, President and CEO of ReadSoft. “We look forward to playing an important role in the success of this customer’s business by helping to re-engineer their AP process to save time and money and fuel growth in the long-run.”
Within this press release, ReadSoft’s customer in the transaction or co-operation is not mentioned by name. This is due to the fact that they have requested to remain anonymous. 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 June 29, 2012 at 13:00 CET.
For additional information, please contact
ReadSoft AB
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 17 countries on six 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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