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Readsoft AB (STO:RSOFB) ReadSoft has won a major deal with one of the most recognized and successful public transportation brands in the U.K. The agreement covers the processing of approximately half a million invoices annually. The ReadSoft solution will automatically process invoices within the customer's Oracle system. The value of the agreement is EUR 390,000 and the major part of this is licenses.
This market leading public transportation company delivers travel services through bus, coach, rail and tram across the U.K. but also in the U.S. and Canada. Having chosen Oracle E-Business Suite as their business system several years ago, this customer also wanted to improve its accounts payable processes by extending the financial system to also automatically read and process supplier invoices.
Today, this company manually handles all data connected to invoices by using a procurement system to generate purchase order data and transfer them into the Oracle E-Business suite. Invoice data is manually entered into Oracle for line item matching. This is a time consuming and inefficient way of handling invoices.
In order to reduce overall accounts payable costs and to streamline the 3-way matching process, they went looking for an automated invoice processing solution. The solution from ReadSoft exactly matches their needs by offering significant business value, allowing better use of employees, higher-quality information and improved security.
"As an internationally recognized leader in invoice automation, we understand the challenges felt by accounts payable departments like the one at this company," says Jan Andersson, President and CEO of ReadSoft. "Over a long period of time we have consistently demonstrated a focus on achieving value to this customer - including a proof of concept which highlighted a need to address other areas of their business. This proved to be a key factor in closing this deal."
For additional information, contact: ReadSoft AB Jan Andersson, CEO, ReadSoft
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.
