ReadSoft Automates Accounts Payable

February 12, 2009: ReadSoft has announced that it has inked a new EUR300,000 deal with a UK government organisation to automate its accounts payable operations with the company’s Oracle E-Business-certified invoice processing solution.

The deal will see ReadSoft’s solution process one hundred thousand invoices annually, automatically reading and processing supplier invoices.

Currently the organisation manually handles all data connected to invoices by using a procurement system to generate purchase order data and transfer them into the Oracle E-Business suite. Invoice data is manually entered into Oracle for line item matching, which is time consuming and inefficient.

ReadSoft says that the organisation needed a three-way matching process, which its solution delivers via better use of employees, higher-quality information and improved security.

“We understand the challenges felt by accounts payable departments like this one,” says Jan Andersson, President and CEO of ReadSoft. “We have been persistent in demonstrating a focus on achieving value to the customer and rest assured that they will experience improved control of cash flow and invoices after having implemented our solution.”

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