Siemens turns to ReadSoft for cutting edge Document Automation

Siemens turns to ReadSoft for cutting edge Document Automation After a thorough evaluation process, the Siemens Industrial Solutions and Services Group in Germany has installed ReadSoft's technology for electronic invoice processing. ReadSoft's software now scans and interprets incoming invoices and also integrates with Siemens' SAP-system for authorization and workflow. Initially, ReadSoft automates the processing of 300,000 invoices a year. Before deciding on which supplier to use, Siemens carried out a tough benchmark. ReadSoft's technology was compared to 10 other solutions on the global market. After evaluating best performance and usability, Siemens decided to go with ReadSoft and their SAP-partner Ebydos AG. The ReadSoft/Ebydos solution has already been integrated with Siemens' SAP R/3 Business System and recently went live at Siemens' site in Erlangen, Germany. "We wanted to reach a higher degree of automation. Now we can move away from manually typing in invoices at various offices in favor of a centralized and automated invoice process in Erlangen. ReadSoft and Ebydos had no overly ambitious visions but outlined a very solid and attractive solution, offering real value and optimized internal processes. We anticipate the return on investment to be one year and our new ReadSoft solution has been awarded the title 'Best Practice software installation' within Siemens," says Uwe Fischer, Manager of the supplier bookkeeping at Siemens. "To win such a tough technology race and sign a prestigious contract with Siemens is truly valuable for ReadSoft. We now have three installations in Germany within the Siemens group vouching for the business benefits of ReadSoft Document Automation. The potential list of new projects within Siemens is long and exciting, says Jan Andersson, CEO ReadSoft. Siemens Industrial Solutions and Services Group is a worldwide supplier of products and services for manufacturing industries as well as for infrastructure. Siemens I&S combines industry-specific IT-competence and service know-how. They employ 28,400 people worldwide and have a turnover of E4,480 billion. What is ReadSoft DOCUMENTS for Invoices? The software 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. Approximately 100 million invoices are processed every year by ReadSoft software around the world and it was the first solution to be certified by SAP. Almost 100 customers have already integrated the software with SAP R/3, making it the most widely used invoice processing integration by far. In total, ReadSoft has over 900 Invoice-processing customers worldwide. ------------------------------------------------ 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 Learn more about ReadSoft on www.readsoft.com ReadSoft is the world's leading supplier of software for Document Automation. The company develops and markets a complete software platform for Document Automation named ReadSoft DOCUMENTS. The vision is to free businesses everywhere from manual document handling. 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/2004/11/10/20041110BIT21370/wkr0001.pdf