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Multinational telecom giant automates more invoices with ReadSoft through extended agreement worth 300,000 EUR
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Having experienced the benefits of ReadSoft Accounts Payable Automation for years in parts of their operations, a multinational telecom company based in Europe decided to expand the use of the solution to cover increased volumes of invoices. The agreement concerns invoice processing inside SAP and is worth 300,000 EUR and was signed during the third quarter of 2011.
ReadSoft software automatically captures, interprets, and understands information from incoming invoices. Once data has been captured, it is automatically matched and verified against SAP. If there is an exact match between the document and the information in SAP, it can be approved automatically.
In addition to an increased volume of invoices processed, the extended agreement with this telecom company also includes ReadSoft’s MOBILE APPROVAL – an add-on to the electronic workflow that allows users to approve or reject invoices on the fly.
“It’s very gratifying to see that more and more of our large, multinational clients choose to expand the use of ReadSoft solutions for business process automation”, says Jan Andersson, President and CEO at ReadSoft. “And in this day of increased mobility, we also see more organizations taking full advantage of the flexibility of our system, by accessing it via web or mobile devices.”
As follows of this press release, ReadSoft’s counterparty in the transaction or co-operation is not mentioned by name. This is due to that ReadSoft’s counterparty has required to be anonymous.
This information is such that ReadSoft AB (publ) is to publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 17, 2011 at 15:30 CET.
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