ReadSoft signs agreement worth 1.1 MEUR with one of Germany’s largest public health insurance companies
ReadSoft in Germany has signed a major deal with a leading public health insurance company. The existing customer since many years will extend its use of ReadSoft’s multichannel process automation solution for all incoming documents, regardless of format, such as email, paper and fax. The agreement is worth 1.1 MEUR and consists of licenses, support, maintenance and services and was signed in the second quarter of 2014.
The existing customer to ReadSoft for many years is one of the largest public health insurance companies in Germany with several millions of insured members. The insurance company who handles large volumes of incoming documents wanted to increase their efficiency and was looking for a high-volume mailroom solution to automate classification and extraction of all incoming documents, and to enable straight through processing gaining greater processing efficiencies across the enterprise. The customer was also seeking a multi-channel solution to handle an increased volume of all sorts of incoming documents, regardless of format, such as paper, fax and email.
After extensive benchmarking and a thorough proof of concept process the customer chose ReadSoft for its expertise within capture automation and multi-channel process automation and for the great benefits of the modular architecture of XBOUND. Combined with ReadSoft’s proprietary capture technology the performance of the solution proved to be the best choice. The customer also found it very useful in their decision process that XBOUND allows the use of different technologies to process documents together with the ability to set up new processes quickly and without additional programming. The customer will replace their existing and competing capture and classification solution with ReadSoft’s Capture Components.
“When an existing customer upgrades our installed solutions and replaces competitor’s products with our products and solutions it is an excellent proof of our high performance and world-leading solutions,” says Per Åkerberg, President and CEO of ReadSoft. “This deal highlights how our flexible solution for insurance companies can improve their operations and generate significant efficiency gains and cost savings. We look forward to working with them for many more years,” 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 is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on July 1, 2014 at 09:00 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 simplifies business for organizations of all sizes with applications for business processes such as accounts payable automation, accounts receivable, sales order processing, and multichannel mailroom automation. Its on-premises and cloud document process automation solutions enable some of the world’s largest corporations as well as small and medium businesses to compete and thrive in today’s environment by improving customer and supplier satisfaction, increasing operating efficiency, and providing greater visibility into business processes. ReadSoft is the world’s number one choice for invoice processing automation, and its applications integrate seamlessly with ERP systems from SAP, Oracle, Microsoft, as well as with many other business systems. Since 1991, the company has grown into a worldwide group, delivering industry expertise and support in 17 countries on six continents through its local and global partner network. ReadSoft is headquartered in Helsingborg, Sweden, and its share is traded on the NASDAQ OMX Stockholm’s Small Cap list. Visit www.readsoft.com.
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