ReadSoft closes deals totaling US$510,000 to end the 2008 year in Australia

ReadSoft closes two large document automation projects in Australia to end the 2008 year. The combined value is more than US$510,000 and the implementations will be carried out in the first quarter this year. The orders include solutions for accounts payable automation and enterprise wide automation in the insurance sector.

Due to competitive markets and confidentially agreements ReadSoft is not granted permission to mention the names of these customers. Both companies, however, hold leading positions within their respective market area.

The ReadSoft document automation solutions for accounts payable and forms processing have proven to be extremely well positioned for the larger companies in Australia. With the two recent wins as well as announcement of the global agreement with Orica in September of 2008 ReadSoft is making itself known as the number 1 solution within document automation in Australia. The latter of these two deals includes ReadSofts enterprise wide automation solutions CLASSIFY & INDEX as a centre piece of the customer’s document process automation strategy, and follows a successful pilot in Q4 2008.

“The investment that large companies are willing to make in our solutions to automate the capture and flow of business documents is of considerable importance to the future direction of ReadSoft,” said Jan Andersson, President and CEO of ReadSoft. “These deals also manifest our leading position within document automation and are a clear statement that our products fit the technology direction of leading companies today and in the future.”

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.