Portugal Telecom launches electronic invoice processing with Document Automation from ReadSoft

Software provider ReadSoft has been selected to automate the processing of 500,000 supplier invoices that are sent to Portugal Telecom every year. The installation has been put to work at PT´s Shared Service Center, PT PRO, and the software is integrated with the customer´s SAP Business System. The order value exceeds 200,000 €.

Portugal Telecom is a global telecommunications operator and the company’s business embraces a full range of telecommunications activities such as fixed, mobile, multimedia, data and corporate solutions. The group’s revenue amounts to nearly 6 Billion €. Aiming to improve internal processes Portugal Telecom decided to abandon manual processing of as many as 2000 supplier invoices every day. Instead, they chose ReadSoft and SAP specialists Ebydos who often team up to deliver electronic invoice processing to SAP users globally. The installation is now in production and Portugal Telecom experiences business benefits that results in better resource usage, better data quality and cut costs. “This large SAP project in Portugal adds to a long list of companies benefiting from our technology. We now have a long list of references within the Telecom segment with names such as Telia Sonera, Telstra, Vodafone, 3 and British Telecom just to mention a few,” says ReadSoft’s President Jan Andersson. ReadSoft’s partner PT Sistemas de Informação has been the main contractor for the complete implementation of the solution, which includes both archiving, workflow and SAP customization. What is ReadSoft DOCUMENTS for Invoices? The 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. Approximately 100 million invoices are processed every year by ReadSoft software around the world and it was the first solution to be certified by SAP. In total, ReadSoft has over 1000 Invoice-processing customers worldwide. ------------------------------------------------ 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 Learn more about ReadSoft on www.readsoft.com 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.