ReadSoft signs agreement with leading hardware chain worth 330,000 USD

A multinational hardware company that prides itself on being local to the
community has entered into an agreement with ReadSoft North America to
streamline its accounts payable workflow with ReadSoft’s SAP®-certified process
automation solution. The deal is worth 330,000 USD and was signed in the fourth
quarter 2013.

Given the high volume ordering of goods for its retail stores, managing a manual
process had become time-consuming and burdensome for the neighborhood hardware
chain.  Problem resolution communication between the purchase and requisition
team and the merchandising and supply chain team was handled via email and
spread sheets with follow up of manually generated accounting documents to
resolve variances.
To replace its manual process, the company sought an automated workflow solution
to handle exception processing and dispute resolutions.  Because of the unique
processing required for its retail chain stores, the organization also needed a
solution provider who could incorporate distinct requirements into its AP
process.  The consideration of this solution working inside its SAP Enterprise
Resource Planning system was also a factor.   ReadSoft was recognized as a
vendor that could easily handle the task at hand because of its vast experience
with tailored solutions and its seamless integration with SAP.
“Because of the large volume of goods ordered on an ongoing basis, it is not
uncommon for large retail chains to experience unmanageable purchasing
processes,” says Per Åkerberg, President and CEO of ReadSoft. “By making the
decision to automate its manual process, this company will enjoy easier
management over its AP operations while gaining control and real-time visibility
over its purchase-to-pay process.”
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 January 3, 2014 at 14:00 CET.
For additional information, please contact
ReadSoft
AB

Johan Holmqvist, Vice President Corporate Communications
Phone: +46 708 37 66 77
Email: johan.holmqvist@readsoft.com

About ReadSoft
ReadSoft is a leading global provider of applications for automating business
processes in the cloud  (http://www.readsoft.com/solutions/document
-processing/capture-in-the-cloud)or on premise. ReadSoft is by far the world’s
number one choice for invoice processing
automation (http://www.readsoft.com/solutions/document-processing/invoice
-processing), especially into business systems from
SAP (http://www.readsoft.com/solutions/automation-for-sap) and
Oracle (http://www.readsoft.com/solutions/automation-for-oracle). ReadSoft’s
software enables companies to automate document processes such as accounts
payable processing (http://www.readsoft.com/solutions/by-department/accounts
-payable), and mailroom automation (http://www.readsoft.com/solutions/document
-processing/mailroom-automation). 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