ReadSoft, TDC and JWN Data take on electronic invoice handling in Denmark

The software company ReadSoft, The Danish telecom group TDC, and the service bureau JWN now take a strategic grip on the market for fully electronic invoice flows between companies and the public sector in Denmark. The three companies can present technology which completely abolishes paper invoices in order to meet the demands of new Danish legislation which prevents companies from sending paper invoices to municipal and government organizations.

The new Danish legislation is effective as of February 2005 and will evenutally mean the end of paper-based invoices between companies and the public sector. Instead, all Danish companies are now advised to send invoices electronically directly to the public sector or to use two service bureaus that digitize the paper invoices before being sent. The companies that do not meet these requirements cannot demand payement. JWN is one of these service bureaus, and together with TDC and ReadSoft, they can now present a new way of sending electronic invoices. ReadSoft’s software EZ-OUT is connected to TDC’s digital certificate for sending electronic invoices with digital signatures. This gives smaller companies in Denmark an opportunity to meet the demands of the new legislation. ”Together with TDC and JWN, ReadSoft can now offer an efficient way to send invoices in a fully electronic invoice flow according to the new, strict Danish legislation. This new law means that Denmark will be a pioneer when it comes to abandoning paper documents. It is very exciting for us to take an active part in this,” says Jan Andersson, President of ReadSoft. To meet the demands of the Danish VAT legislation, electronic invoices must be signed electronically so that there can be no doubt about their origin. The officially approved digital signature is delivered by TDC. About TDC The international telecom group TDC is a leading European supplier of telecom services. Danish based TDC operates in some 10 European countries plus Oman. In 2003, TDC had a turnover som some 40 billion DKK. About ReadSoft DOCUMENTS for EDI ReadSoft DOCUMENTS for EDI enables companies to send invoices (and other documents) electronically via email. On the sending side, an easy-to-use software called EZ-OUT sends the document as an email. On the receiving side, the email is opened, captured and interpreted by ReadSoft’s software for Document Automation. The benefits are numerous. The sender saves postage, printing and paper costs, while the receiver doesn't have to open envelopes, scan documents or archive tons of paper. But above all, the whole process can now be carried out in a few seconds. ------------------------------------------------ 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