North American pharmaceutical company automates invoice processing through agreement with ReadSoft worth 340,000 USD
The North American based organization will streamline its end-to-end accounts payable process with ReadSoft’s SAP®-certified invoice automation solution. The agreement is worth 340,000 USD and was signed during the fourth quarter of 2011.
Processing mostly paper invoices, this organization’s accounts payable department routinely faced issues such as missing invoices and slow payment cycles. The company researched invoice automation with the goals of eliminating paper invoices and increasing efficiency, visibility and control for its finance department. ReadSoft, with a strong pharmaceutical reference background of SAP invoice automation implementations, was deemed the market leader within the SAP segment by the customer, providing the most complete invoice automation solution based on best practices.
With ReadSoft’s SAP-certified invoice processing solution, the organization will eliminate lost invoices through improved visibility and control while accelerating processing speeds. The solution is also designed to accommodate the company’s requirement for multiple languages. Through this implementation, the organization made the strategic decision to leverage its existing investment in SharePoint as its content repository.
“Improved visibility and control over the invoice process is critical for both AP and finance to operate cost-effectively,” says Per Åkerberg, President and CEO of ReadSoft. “This customer will leverage its Microsoft SharePoint repository with ReadSoft’s process automation solution to transform its invoice process into a cost-conscious and strategic operation that will help increase its bottom line,” finishes Per Åkerberg.
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 information is such that ReadSoft AB (publ) is to publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on January 10, 2012 at 14:30 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 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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