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Sheridan Production enhances Oracle E-Business Suite with automated invoice processing from ReadSoft

Thursday 22. January 2009 - ReadSoft's Oracle E-Business Suite-certified invoice processing solution has been implemented at Sheridan Production Co., a Houston-based oil and gas production company, to automate its accounts payable operations.

ReadSoft and partner INSYTE Information Corporation assisted the Sheridan team with the accounts payable enhancements.
With a strategy focused on acquiring mature producing oil and gas properties in the U.S., Sheridan Production faces an ever increasing number of paper-based invoices.  Along with basic invoice information, employees were manually typing in line item information from every incoming invoice into the accounts payable application.  In addition, approvals were obtained from various district offices causing the invoice flow to be costly and inefficient.  Sheridan turned to ReadSoft to alleviate the manual focus of their accounts payable department and help automate the approval process for operating personnel.
 
“Having implemented Oracle E-Business Suite at other larger corporations, working with the ReadSoft team has been terrific,” said Anne Oglesby, Accounts Payable Supervisor at Sheridan Production.  “Not only did ReadSoft’s solution simplify a complex business process, but its staff maintained first-rate customer focus during the entire process.”
 
The ReadSoft solution has been installed with Sheridan’s Oracle E-Business Suite system to not only automatically capture information from paper invoices but also to utilize ReadSoft’s automated workflow and approval procedures.  ReadSoft’s solution has achieved the highest possible product certification with Oracle E-Business Suite which gave Sheridan confidence to partner with ReadSoft.
 
“With Sheridan’s expected future growth, we needed to have the infrastructure in place to process invoices as timely and efficiently as possible to help minimize costly manual procedures and maximize efficiency of vendor pay,” said Tim Blaine, Sheridan Production CFO. “ReadSoft’s solution allows us to better utilize our current staffing with only modest planned increases as we continue to grow.”
 
“When growing companies like Sheridan Production handle accounts payable inside the Oracle E-Business Suite system, they will experience improved control of cash flow and invoices,” said Bob Fresneda, President of ReadSoft North America.  “The ReadSoft and INSYTE teams are both pleased that the solution is successfully in production with Sheridan already experiencing the benefits promised.”