Prepress

ReadSoft delivers accounts payable automation solution worth €325,000 to German electronics company

Wednesday 19. May 2010 - An international German electronics manufacturer has chosen ReadSoft to deliver a system for automating accounts payable processes inside their existing SAP-system. The solution will be implemented throughout the company's organization in Europe, North America, and Asia. The initial order value is €325,000.

As many larger organizations, this electronics company was looking for a way to reduce costs and increase efficiency in their back office operations. With ReadSoft software, they realized that they would be able to make substantial savings and take advantage of faster and more effective accounts payable processes. Another reason for choosing ReadSoft was the future potential to automate other document processes with the help of ReadSoft’s new technology.
 
For the time being, the company will start automating their incoming invoices. ReadSoft software will automatically capture information from invoices, regardless of whether they arrive on paper or in electronic form. The invoices will be automatically matched against any existing purchase orders in SAP. If there is a complete match, the invoices will be automatically posted for payment. If there is no purchase order present, or if the invoice deviates from the purchase order, the invoice will sent for approval in an electronic workflow.
 
“We are very pleased to be selected as the supplier to automate accounts payable processes for this customer. It is the first step in what we hope will develop into a delivery of our new PROCESS DIRECTOR technology for automating other processes as well,” comments Jan Andersson, CEO at ReadSoft.