Schneider Electric chooses ReadSoft's INVOICES software to process 500,000 invoices in their SAP Business System
Schneider Electric chooses ReadSoft's INVOICES software to process 500,000 invoices in their SAP Business System ReadSoft's software for electronic invoice processing has been chosen by Schneider Electric France to automate the processing of 500,000 invoices annually from 8,500 suppliers. After the launch, Schneider Electric plans to extend the solution to the majority of its French subsidiaries and increase the volume to 750,000 invoices annually. Schneider Electric is the world's Power & Control specialist in electrical supply, with distribution in 130 countries. The headquarter is located in France and in 2003 the group turnover reached 8.8 billions euro with a net result of 433 million euro. In order to automate and substantially improve accounts payable processes and invoice handling, Schneider Electric France picked the ReadSoft INVOICES solution. INVOICES will seamlessly be integrated with Schneider's SAP Business System using the Invoice Cockpit interface supplied by ReadSoft's German partner, Ebydos AG. ReadSoft newest version of INVOICES, 5-3, is more powerful and faster than its predecessor and automatically extracts not only all the required financial data, but also all the line items on each invoice. This makes it possible to immediately compare and validate the information with the SAP databases. Jan Andersson, ReadSoft President & CEO, is pleased by the collaboration with the major industrial French group: "Schneider Electric's decision to go with ReadSoft confirms our leadership position on the French market of automatic invoice processing with SAP integration. We wish to collaborate even further with Schneider Electric in the future to extend this solution to other countries in the group." What is INVOICES? ReadSoft INVOICES is designed to recognize unstructured invoice documents and capture data such as sender, invoice number and invoice amount from anywhere on the invoice. At the same time, the software checks the data against information in the customer's business system. ------------------------------------------------ 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 About ReadSoft ReadSoft' is the world's leading supplier of software for document automation and associated information processing. The company develops and markets a broad range of products based on our own products FORMS, INVOICES and EZ-OUT, and supplementary systems developed for them. Since its founding in 1991, ReadSoft has developed into a global group with 11 subsidiaries in Europe, North and South America and Australia, and a large number of local and global partners. ReadSoft is headquartered in Helsingborg, Sweden, and its primary R&D facility is in Stockholm. ReadSoft has been listed on the Stockholm stock exchange, since 1999. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/03/05/20040305BIT20160/wkr0001.pdf