ReadSoft signs contract with global Fortune 500 food company worth 500,000 EUR

PRESS RELEASE Helsingborg, Sweden, March 12, 2010 ReadSoft signs contract with global Fortune 500 food company worth 500,000 EUR ReadSoft has signed a deal with a global, leading Fortune 500 food company worth 500,000 EUR. The customer selected ReadSoft’s SAP-certified invoice automation solution to process hundreds of thousands of invoices and other business documents annually in Europe. The global food company, which operates in more than 40 countries, selected ReadSoft because of its proven track-record within the SAP environment for invoice automation and its ability to handle other business critical documents across the enterprise. The customer’s objective is to automate the handling of its accounts payable (AP) business documents processing and by doing so eliminating inefficient and time consuming, manual processes. After a thorough benchmark, the customer decided to partner with ReadSoft based on proven deployment experience and geographic coverage. The software's proven stability with thousands of users all over the world, its effective integration into SAP and the solution's user friendliness were some of the reasons for choosing ReadSoft. The solution offers a significant business value, thus allowing the customer to make better use of its employees, ensure higher information quality, and improve security. “The investment that large companies are willing to make in our solutions to automate the capture and flow of business documents is a clear statement that our products fit the technology direction of leading companies, “ says Jan Andersson, CEO at ReadSoft. “This agreement also aligns with our strategy of expanding our position within multinational companies and with our presence worldwide, we can also offer global solutions with local support For additional information, please contact ReadSoft AB Jan Andersson, CEO Phone: +46 708 37 66 00 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 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 www.readsoft.com.