ReadSoft Signs Agreement Worth 312,000 EUR with Major European Manufacturer

Regulatory News:

ReadSoft (STO:RSOFB):

A leading European multi site manufacturing company has chosen ReadSoft's SAP®-certified invoice automation solution to process electronic and paper invoices in its European shared service centre operations. The agreement is worth 312,000 EUR and was signed in the fourth quarter of 2012.

The manufacturer wants to eliminate manual processing and drive automation in is P2P processes for all types of invoice documents. The company will be rolling out the solution as a part of their shared service center environment in Europe. The company selected ReadSoft through a competitive selection process and identified ReadSoft’s product PROCESS DIRECTOR, the years of SAP process experience, the ability to drive touchless processing and rapid deployment as critical factors. As the chosen solution, ReadSoft PROCESS DIRECTOR is a modular way to handle not just AP processes but a multitude of business process automation tasks such as delivery notes, sales orders, or remittance advices and provides a platform for automating many core business processes within a shared service environment. "Starting with automating its invoice process, the company can immediately maximize its existing investments in SAP, whilst reducing invoice processing cycle times and improving control over their accounts payable process,” says Per Åkerberg, President and CEO of ReadSoft. Simon Shorthose, Managing Director of ReadSoft UK said: "Again ReadSoft demonstrates its track record in handling high volumes of invoices within complex large shared service centers across multiple countries for major SAP manufacturing companies.” 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 December 28, 2012 at 14:30 CET.

About ReadSoft

ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing (http://www.readsoft.com/purchase-to-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx), document sorting (http://www.readsoft.com/software-products/document-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx). ReadSoft is by far the world’s number one choice for automated invoice processing (http://www.readsoft.com/software-products.aspx), especially into business systems from SAP (http://www.readsoft.com/default/sap-solutions) and Oracle (http://www.readsoft.com/default/oracle-solutions). Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 17 countries on six 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 Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.

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