Prepress

European oil and gas group invests EUR 320,000 in solutions from ReadSoft

Tuesday 19. May 2009 - A leading oil and gas company in Central-Eastern Europe has decided to invest in ReadSoft's invoice processing solutions for SAP to make their invoice processing more efficient. The agreement covers the processing of more than a couple of hundreds of thousands invoices annually. The order is worth approximately EUR 320,000 to ReadSoft.

This leading company, with headquarters in Central-Eastern Europe, has operations across Europe, Middle East, Africa and the CIS member states and employs over 15,000 people worldwide.

With the goal of making their accounts payable processes more efficient, this company decided to invest in ReadSoft’s solution. Maintaining a leading position requires the implementation of the latest technologies on the market, which is why they started searching for solutions to automate their invoice processing. Manually processing invoices and other related documents was consuming too much time and too many resources. They found that ReadSoft’s solution offers significant business value, allowing customers to make better use of their employees, ensuring higher-quality information and improving security.

The new work process will also give this customer the opportunity to better comply with internal control procedures by knowing exactly where the invoices are, what their status is, what operations have been made and by whom. With a very large amount of approvers within the organization the lead times within accounts payable will shorten dramatically. The roll-out of the new solution will start at the company’s headquarters before summer. If things go according to plan a subsidiary within the group, is looking to implement the same solution shortly after that.

“This is one of our larger reference customers in Eastern Europe when it comes to invoice processing within SAP, and as such a very important one,” says ReadSoft CEO Jan Andersson. “We are very excited about the fact that companies in this part of Europe now also are investing in solutions that will make them more efficient.”