ReadSoft closes global agreement worth EUR 350,000 with international oil and gas group

A major international oil and gas group has turned to ReadSoft to automate invoice processing and increase efficiency in their AP department. The agreement covers the processing of hundreds of thousands of invoices annually and is worth approximately 350,000 Euro. This international group will also start using ReadSoft’s brand new software for reporting and statistics - REPORTER.

This global oil and gas company were looking for an automated way to handle their incoming invoices in order to get better tracking of supplier invoices and become more efficient in their accounts payable processes. After benchmarking several solutions on the market, they decided to go with ReadSoft.

ReadSoft’s solution will automatically capture information from incoming invoices and match this information against purchase orders in the customer’s SAP system. An electronic workflow will enable the invoices to be passed around for approval throughout the global group with a few clicks of the mouse. The group is also an early adopter of ReadSoft’s REPORTER technology which will provide immediate online statistics on the invoice processing.

“We are very happy about this deal,” says Jan Andersson, President and CEO of ReadSoft. “Not only is it yet another proof of our leadership when it comes to invoice processing into SAP, it is also a very important reference for our new REPORTER software which we have high hopes for. This customer will be able to get invaluable statistics about their invoice flow and use this to optimize their invoice process even further.”

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.