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Altec Selects ReadSoft as IDR Partner to Enhance its doc-link(TM) IDM Solution

Tuesday 17. November 2009 - This new partnership brings affordable intelligent document recognition (IDR) technology to Altec's SMB marketplace.

Altec Products, Inc., a leading provider of integrated document management (IDM) and workflow solutions to small and medium-sized businesses, announces that it has signed a worldwide distribution agreement with ReadSoft to market, implement and support ReadSoft’s accounts payable automation solutions through its vast network of resellers.

The addition of ReadSoft’s intelligent document recognition (IDR) solution to Altec’s flagship product, doc-link, allows companies to gain approximately a 25% incremental increase in productivity in processing accounts payable transactions through intelligent image and data capture on top of the 25 – 40% increase offered by the doc-link standalone solution. The IDR component will be available as an option to the various doc-link bundles, giving SMBs access to technology once only afforded by larger enterprises.

The Altec and ReadSoft partnership is truly a win-win situation, giving both companies the ability to expand their businesses through increased functionality and greater market reach respectively.

“As we continue to penetrate the SMB market and receive feedback from our user community, our product marketing team has identified the need to expand the benefits of our solution by offering OCR and IDR technology,” said Mark Tague, Chief Technology Officer of Altec. “When selecting an OCR/IDR partner, we wanted to find an organization that was a market leader with a global reach to complement our sales and marketing model, and ReadSoft fit that bill for us.”

“ReadSoft has traditionally operated in the large enterprise marketplace, and our vision for growth includes expansion into the other markets,” said Bob Fresneda, President of ReadSoft North America. “Altec is well entrenched in the SMB space; its strategic alliances with Epicor, Sage, Dynamics and SAP make them a strong partner to help us bring IDR to customers in the SMB marketplace that have been demanding this type of solution for quite some time.”