ReadSoft signs US$825,000 global deal with leading agricultural company

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ReadSoft has received an order worth approximately US$825,000 from a U.S.-based agricultural company. The solution from ReadSoft will automate and optimize the processing of supplier invoices and also integrate with the installed SAP system. The agreement covers the processing of over half a million invoices annually throughout the company's facilities in North America, Latin America, Europe and Asia. The deal was closed in March and implementation will start during the second quarter of 2009.

Due to a confidentially agreement, ReadSoft is not at liberty to disclose the name of this $10 billion company. With operations in over 60 countries worldwide, this corporation offers innovative technology and products to farmers around the world.

With the goal of making their accounts payable processes more efficient, this leading company decided to invest in ReadSoft's solution. Maintaining a leading position requires the implementation of the latest technologies on the market, which is why the company also started searching for solutions to automate invoice processing. In order to standardize processes and procedures, reduce costs and improve cycle time worldwide, the company needed to automate document capture and optimize invoice processing. ReadSoft's solution was found to offer significant business value, by allowing customers to make better use of employees, ensuring higher-quality information and improving visibility.

"This deal is the largest for ReadSoft so far this year and naturally of great value to us," says Jan Andersson, President and CEO of ReadSoft. "To be able to close deals of this size in a market under financial turbulence manifests our leading position within document process automation and is a clear statement that our solutions can offer true business efficiency, especially in times like these."





For additional information please contact


ReadSoftAB

Jan Andersson, CEO, ReadSoft

Phone: +46 708 - 37 66 00

Jonna Opitz, Vice President, Corporate Communications

Phone: +46 733 - 37 86 68

jonna.opitz@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. Specialized solution labs for SAP, Oracle, Microsoft and Capture processes ensure cutting edge solutions with great customer value. 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.

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