ReadSoft Signs Invoice Automation Agreement Worth 480,000 USD with North American Oil and Gas Producer

One of the largest independent oil and gas producers in the US has selected ReadSoft’s SAP®-certified invoice automation application to streamline its AP operations and enable greater processing efficiencies. The agreement was signed during the third quarter and is worth 480,000 USD.

The company recognized a need for an automated workflow application, and ultimately selected ReadSoft’s SAP-certified PROCESS DIRECTOR for Accounts Payable (AP), due to the application’s tight integration with the company’s existing SAP system. By automating its invoice processing seamlessly within SAP, the organization looks forward to lower invoice processing cycle times and improved visibility and control.

The implementation of ReadSoft’s invoice automation technology will take place while the organization centralizes all of its AP operations into a shared service center. Deploying AP automation within a shared services environment will not only enable the company to consolidate and simplify AP operations, but will also streamline its processing infrastructure to support future growth.

“We are pleased to play an integral role in this company’s migration to a regional AP shared services model,” says Per Åkerberg, President and CEO of ReadSoft. “Time and again we have seen this model, coupled with our automation applications, deliver compounded efficiency gains and long-term cost savings.”

Within this press release, ReadSoft’s customer in the transaction or co-operation is not mentioned by name. This is due to the fact that they have requested to remain anonymous. This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on August 15, 2014 at 10:00 CET.

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