ReadSoft to deliver SAP-certified invoice automation technology to American industrial group

PRESS RELEASE Helsingborg, Sweden, December 10, 2009 ReadSoft to deliver SAP-certified invoice automation technology worth $360,000 USD to American industrial group ReadSoft is to implement its SAP-certified invoice processing solution at one of the world’s largest producers of recycled lead. ReadSoft is selected because of its core focus on invoice automation and its tight integration with SAP. The agreement, valued at $360,000 USD, will process tens of thousands of paper and electronic invoices. The U.S. based organization is one of the largest producers of recycled lead in the world. After a recent SAP implementation, the company realized certain shortcomings in its accounts payable (AP) processes. Even with the operational efficiency gains associated with implementing SAP, there were many manual, time-consuming processes and some paper-based steps. The company recognized the need for an invoice automation solution in order to fulfill its desire to achieve the best-in-class AP operations. The objective is to eliminate the labor-intensive steps by optimizing its AP efficiency while leveraging the investments already made in SAP. ReadSoft was selected, because the company recognized ReadSoft as the only vendor with a primary focus on invoice automation and a tight integration to SAP. Moreover, ReadSoft provides direct support for the chosen solution. “We are very glad that ReadSoft, once again, is the trusted provider of invoice automation solutions within the SAP space,” comments Jan Andersson, CEO at ReadSoft. “We look forward to work with this company in realizing their goals – to achieve best-in-class AP practices.” ---------------------------------------------- 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.