ReadSoft, a provider of document automation software, has won an order worth approximately $1m from a US-based company within the technology sector. The deal was closed in December 2008 and implementation is expected to start during the first half of 2009.
The service from ReadSoft is expected to automate and optimize the processing of supplier invoices and also integrate with the installed SAP system. The agreement covers the processing of millions of invoices annually throughout the company’s shared services centers in Europe and the US.
According to ReadSoft, the overall goals for the customer were to purchase technology that could handle both paper and electronic invoices and start the move away from paper toward more electronic means when it comes to document processing.
Jan Andersson, president and CEO of ReadSoft, said: The investment that high tech companies are willing to make to automate the capture and flow of financial documents inside of SAP is of considerable importance to the future direction of ReadSoft. This deal also manifests our leading position within the SAP segment and is a clear statement that our products fit the technology direction of high-tech companies today and in the future.