Helsingborg, Sweden, November 13, 2009
ReadSoft signs Fortune 500 energy
services company as latest SAP
vendor invoice automation customer
valued over $600,000 USD
A North American Fortune 500 energy services company has selected ReadSoft’s SAP-
certified invoice processing solution to automate its procure-to-pay process. The order
includes the processing of more than 175,000 invoices annually and is worth approximately
Due to a confidentiality agreement, ReadSoft is not at liberty to disclose the name of this Fortune 500 company.
With 2008 revenue of more than $10 billion USD, the company develops energy infrastructure and provides related
products and services to millions of consumers worldwide.
The company sought a technology solution that would allow the company to operate an efficient and cost-effective
procure-to-pay process. After thorough evaluation of several solutions, ReadSoft was announced as the selected
vendor based on a number of criteria. ReadSoft’s knowledge and experience in the accounts payable automation
market and its tight integration into SAP were stated as meeting the company’s requirements best.
With ReadSoft’s SAP-certified solution, the company will leverage its investments already made in the SAP system,
while achieving significant cost savings through reduced handling time and enhanced control over the complete
procure-to-pay process. Incoming invoices will be automatically processed in the existing SAP system, eliminating
inefficient paper handling and manual processes such as data entry, data verification, and manual distribution of
invoices or other related documents.
“Large multinational companies are one of our focus areas, and our solutions are well suited for handling the
extensive requirements of such organizations, "says Jan Andersson, CEO at ReadSoft. “We are also very pleased
that our customers have chosen to give priority to such a major investment in our technology despite the current
---------------------------------------------- For additional information, please contact --------------------------------------
Jan Andersson, CEO, ReadSoft
Phone: +46 708 – 37 66 00
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. 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