International chemical company invests €544,000 in solutions from ReadSoft

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ReadSoft has received an order worth approximately 544,000 EUR from a large French chemical Group. The solution from ReadSoft will automate and optimize supplier invoice processing at the company and will also integrate with the SAP system that is presently being deployed. The initial agreement covers the processing of approximately 170,000 invoices annually throughout at the company's US operations. The solution is expected to be in production during the second quarter of 2008.

This French customer, who wishes to remain anonymous at this time, isthe partner of major players in the automotive, tire, electronics, perfume, health and beauty, and home care markets. The group employs around 16,000 people in the US, Europe, Asia and South America, and generated sales of €4.8 billion in 2006.


With the goal of making their accounts payable processes more efficient, this leading company decided to invest in ReadSoft's solution together with the rollout of a SAP system. Maintaining a leading position requires the implementation of the latest technologies on the market, which is why they also started searching for solutions to automate their invoice processing. Manually processing invoices and other related documents was consuming too much time and too many resources. They found that ReadSoft's solution offers significant business value, allowing customers to make better use of their employees, ensuring higher-quality information and improving security.


The new, entirely automated, work process will be put into production during the second quarter of 2008. If things go according to plan, the solution will expand to cover the rest of the group as well.


"Our solution is perfectly suited to SAP's enterprise system and satisfies the strict requirements of multinational companies when it comes to handling invoices and payment," says ReadSoft CEO Jan Andersson. "We are very happy that this customer, as well as many other major French companies, has chosen the ReadSoft solution. I'm certain this will make them even more efficient."




ReadSoft DOCUMENTS for Invoices

More than ten years of experience with electronic invoice processing has produced the most powerful, and by far the most popular (2,000 clients), system on the market. ReadSoft DOCUMENTS for Invoices is a highly profitable investment for just about any business. Fully implemented, electronic invoice processing lowers costs by 25-50%. Meanwhile, the invoicing process speeds up and employees can devote more time to tasks that take advantage of their individual skills. ReadSoft DOCUMENTS for Invoices captures, reads and classifies all incoming formats, whether paper or electronic. The solution, which is customised for simple linkage to leading international enterprise systems, is certified for both SAP and Oracle.


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


ReadSoftis a world-leading supplier of software for document automation. The company develops and markets a complete software platform for document automation under the name of ReadSoft DOCUMENTS. The vision is to release businesses around the world from handling documents manually. Since starting in 1991, ReadSoft has grown to a worldwide Group with offices in 15 countries in Europe, North America, South America and Australia, as well as a large number of local and global partners. The head office is in Helsingborg, Sweden, which - along with Stockholm - also houses the Group's main research and development unit. The ReadSoft share is traded on the Nordic Stock Exchange Small Cap list.

Find out more about ReadSoft at www.readsoft.com

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