A leading UK financial institution has chosen ReadSoft (STO:RSOFB) to
automate the management and process of customer correspondence in a deal
worth 2.6 MEUR. This is the single largest deal ever in ReadSoft’s
history and the agreement was signed during the fourth quarter of 2012.
The deal consists of licenses, support and maintenance and product
related consulting services and spans over three years.
The customer’s mailroom handles millions of documents each year. This
high volume and complex environment requires a solution capable of
handling not only the volume of correspondence, but in a regulated
industry, the ability to manage and automate processes quickly and
accurately to all the core internal systems. The ReadSoft solution
provides advanced classification and accurate data extraction –
including the handling of handwritten documents and automated routing of
all correspondence irrespective of formats.
Speed, accuracy and compliance are essential in the banking and
insurance market, under the scrutiny of regulators and with
organizations looking to protect and enhance their reputation and trust
and more importantly improve customer experience and responsiveness.
”This win reinforces ReadSoft’s continued success and growth in the high
volume business process automation, mailroom and finance processes
marketplace,” said Per Åkerberg, President and CEO of ReadSoft. "This is
the single largest deal in ReadSoft’s history and continues the position
of ReadSoft as a strategic component of major organizations business
operations and adding value to automate business processes.”
Simon Shorthose, Managing Director of ReadSoft UK added: "This is
testament to the advanced solutions ReadSoft has and the ability to
drive automation and benefits for our customers in high volume customer
Within this press release, ReadSoft’s customer in the transaction or
co-operation is not mentioned by name. This is due to the fact that they
have requested to remain anonymous. This is information of the type that
ReadSoft AB (publ) is obligated to disclose in accordance with the
Swedish Securities Markets Act and/or the Financial Instruments Trading
Act. The information was submitted for publication on December 27, 2012
at 15:30 CET.
ReadSoft is a leading global provider of software solutions for Document
Process Automation. ReadSoft’s software enables companies to automate
document processes such as accounts payable processing (http://www.readsoft.com/purchase-to-pay.aspx),
document capture (http://www.readsoft.com/enterprise-capture.aspx),
document sorting (http://www.readsoft.com/software-products/document-capture.aspx),
and order to cash (http://www.readsoft.com/order-to-cash.aspx).
ReadSoft is by far the world’s number one choice for automated invoice
especially into business systems from SAP (http://www.readsoft.com/default/sap-solutions)
and Oracle (http://www.readsoft.com/default/oracle-solutions).
Since the start in 1991, ReadSoft has grown to a worldwide group with
operations in 17 countries on six continents and a network of local and
global partners. The head office is located in Helsingborg, Sweden, and
the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap
list. For more information about ReadSoft, please visit www.readsoft.com.
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