ReadSoft signs $1.4 million USD deal with North American Fortune 500 food company
ReadSoft's SAP-certified accounts payable automation solution was chosen by an international Fortune 500 food company based in North America for its market leadership and proven capabilities. The agreement is worth $1,400,000 USD and will initially process millions of invoices per year. Implementation will begin in several North American countries during the second quarter of 2010.
The customer was looking for a solution to optimize accounts payable (AP) processes within its overall SAP implementation progression. The customer wanted to eliminate tedious and time-consuming document handling processes, and the choice fell on ReadSoft's SAP-certified solution which met the company's requirements best.
ReadSoft's market leadership with over 15 years of advising global organizations on effective ways to implement process improvements and cost-cutting measures turned out to be decisive for the customer's choice. The company also recognized ReadSoft's established reputation within the AP automation market for the SAP segment. The solution will, among other things, replace the customer's internally developed workflow system to eliminate manual document handling and remedy the lack of integration with SAP.
"Winning a large deal like this after a tough and thorough vendor evaluation proves that our solutions and personnel are in the forefront of this business," comments Jan Andersson, CEO at ReadSoft. "Multinational enterprises such as this understand that ReadSoft's solutions represent significant benefits for companies seeking to improve the effectiveness and efficiency of document handling processes as well as cost-cutting measures."
For additional information, please contact
ReadSoft AB
Jan Andersson, CEO
Phone: +46 708 37 66 00
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 Automation. ReadSoft's software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world's number one choice for invoice automation solutions. 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 Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com .