ReadSoft signs global partner agreement with IFS

ReadSoft signs global partner agreement with IFS ReadSoft has closed a global partner agreement with IFS, one of the largest suppliers of ERP systems in the world. ReadSoft's software for automatically processing invoices, Eyes & Hands INVOICES, will be added to IFS's business system. IFS will make an international launch of the joint solution during the fourth quarter this year. The Swedish ERP (Enterprise Resource Planning) provider IFS develops and delivers business system to mid- and large sized companies throughout the world. INVOICES will be added to the IFS business concept, IFS Applications, for automatic processing of supplier invoices. Initially the solution will be sold to IFS customers in Scandinavia, UK, France, Germany, and the U.S. before further global roll out. In the Scandinavian countries a handful of IFS customers are already in production. "IFS is one of the most important ERP suppliers globally and an extremely interesting partner for ReadSoft, especially since they have a strong sales focus on the U.S. market where our products have large potential. We anticipate this agreement to further strengthen our position as a leading provider of software for automatic data capture," says Jan Andersson, MD ReadSoft. "I grade ReadSoft as a leading provider of software for automatic processing of invoices. Therefore I am happy to be able to offer ReadSoft's solution in collaboration with the IFS Application to our customers. The solution offers quick return on investment through lowered costs and higher data quality in the handling of invoices. By making business processes easier for our customers we create added value and therefore we anticipate a substantial sales potential with this joint solution," says Michael Hallén, Senior Vice President Products, IFS Group. For more information please contact: ReadSoft AB IFS AB Jan Andersson, MD Olof Engvall, Head of Information Michael ReadSoft Hallén, Senior Vice President Tel: 0708 - 37 6600 Tel: 0708 - 37 66 70 Tel: 031-72630 00 jan.andersson@rea olof.engvall@readsoft.com dsoft.com michael.hallen @ifsab.se About ReadSoft ReadSoft is the market leader in the development and sales of software for automatic data capture, which is software that automatically registers and interprets data on forms and invoices in paper or electronic format. Since its establishment in 1991,ReadSoft has evolved into a global corporation with 13 subsidiaries in Sweden, Norway, Denmark, Germany, France, Spain, Italy, The UK, The US, Mexico, Chile, Brazil and Australia. The annual growth, for the last five years, has been approximately 70%. In 2000 the turnover was 31 MUSD. In May the Swedish business magazine Veckans Affärer awarded ReadSoft the title "IT- Company of the year. For more information: www.readsoft.com About IFS and IFS Applications IFS develops and supplies component-based business applications for medium and large enterprises. IFS Applications, which is based on web and portal technology, offers 60+ enterprise application components used in manufacturing, supply chain management, customer relationship management, financials, engineering, maintenance and human resource administration. IFS provides customers step-by-step evolution to the extended enterprise with e-business solutions that offer partner, customer, and supplier collaboration. A top five global business applications supplier, IFS has 3500 employees, with sales in 43 countries. The company is listed on the Stockholm Stock Exchange (XSSE:IFS). For more information, visit the company's website at: www.ifsworld.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/25/20011025BIT01410/bit0001.doc http://www.waymaker.net/bitonline/2001/10/25/20011025BIT01410/bit0001.pdf