ReadSoft is teaming up with the fileWise document management suite in Australia to offer a structured Account Payable (AP) processing solution for local businesses.

The solution will combine ReadSoft’s automated data capture and invoice processing software with the fileWise document-centric workflow solution, promising the ability to deliver up to 40% savings on invoice processing costs.

fileWise is an Australian document management platform developed and supported by Stellar Business Process Solutions.

“By partnering with ReadSoft, we are able to provide customers with a best-in-class automated invoice processing solution that not only drives cost reduction, but also improves efficiency and compliance throughout the accounts payable cycle,” said Warwick Marx, CEO for fileWise.

“The partnership creates a commercial opportunity for both ReadSoft and fileWise to extend its market wider from a technology point of view. The combination of the ReadSoft and fileWise significantly improves processing speeds allowing for reduced costs to the customer.”

The fileWise solution is targeted at businesses that are processing between 60,000 and 300,000 invoices a year, and is already employed on premise at a range of Australian organisations including most recently the Northern Territory Government Shared Services. Fuji-Xerox Australia offers a hosted version of fileWise that is used by a range of its enterprise customers.

"Our partnership with Readsoft means we can now offer an OCR-independent on-premise alternative that will lead to the best solution for our customers," said Marx.

"Our solution is priced per invoice, not per user, so it does not matter if you have 1 or 1000 users the entry point will remain the same."

fileWise can be easily configured to to mesh with unique business processes and the application also comes with an eForms module that can integrate any paper based form into an individual customised workflow.

The fileWise implementation team already have experience integrating the solution with a range of enterprise financials platforms including: Finance One; Timberline; Sun Financials; MFG Pro and Oracle JD Edwards and integration with other ERP solutions can be undertaken as required.

“We are excited about working with fileWise, and complementing their workflow solution for AP automation,” said Frank Volckmar, Managing Director of ReadSoft Oceania. “fileWise has built a strong AP automation reputation, capability and team. Partnering with the like-minded team who develop fileWise enables us to expand the relationship beyond complementary technologies into a shared approach for delivering and supporting highly automated AP solutions.”