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ReadSoft Extends SAP Payables Automation at ASUG/SAPPHIRE


Certified SAP partner unveils content management, dynamic discounting, e-Mail capture and SharePoint integration capabilities for invoice automation platform

New Orleans, LA, May 16, 2010 --(PR.com)-- ReadSoft, a global document process automation provider, today announced that it is demonstrating several new solution initiatives related to its market-leading payables automation platform for SAP users. The applications can be seen in ReadSoft’s booth (#3221) at SAPPHIRE® NOW and the ASUG Annual Conference in Orlando, Florida – May 16th through May 19th, 2010.

Highlights at the ReadSoft booth include:

- Hyland Software, a leading Enterprise Content Management (ECM) vendor, is joining ReadSoft at SAPPHIRE to demonstrate the integration of its’ OnBase document management program with ReadSoft’s document capture and invoice processing applications.
- Another Alliance Partner, Taulia, is showcasing its dynamic discounting product suite integrated into ReadSoft’s Invoice Cockpit, the company’s industry-leading SAP accounts payable solution.
- ReadSoft is also highlighting its latest module, Collector, which captures contact information and pdf & image files from e-mails for automated invoice processing.
- Finally, ReadSoft is featuring strategic partner ERP-Link to provide invoice integration between SAP and Microsoft Office SharePoint Server.

“ASUG/SAPPHIRE is an important event on ReadSoft’s calendar as it affords an excellent opportunity to connect with our growing SAP customer base and discuss new applications from our partnerships with innovative vendors like Hyland, Taulia and ERP-Link,” said Bob Fresneda, President of ReadSoft North America. ”Their integration with our payables platform adds significant value to the thousands of companies that today employ ReadSoft technology to reduce the costs and improve efficiencies associated with paper and electronic invoice processing.”

Several SAP/ReadSoft customers will present their best practice solutions at SAPPHIRE, including:

- Lockheed Martin: the aerospace innovator will discuss its use of ReadSoft, Vertex, and BizAps to drive efficiency and P2P integration in a high volume shared-services accounts payable (AP) operation.

- Border States Electric is automating paper vendor invoices via its integration of SAP ERP, ReadSoft and several IBM products including IBM CommonStore, IBM Content Manager and IBM Tivoli Storage Manager. The utility will explain how these applications enable it to attach and store varying document formats within its SAP landscape.

- Retailer W.R. Grace will detail how it saved over $500,000 by streamlining invoice processing through imaging and automating the entire payables workflow process. Within eight months of implementation, the company processed 83% of its payments electronically and watched its discount capture rate climb to 85%.

Over 6,500 enterprises around the globe automate financial document processes such as data entry, document classification, and information matching against ERP systems, document workflows, e-invoicing and more with ReadSoft to achieve faster and less expensive document processing and increased control.

About ReadSoft:

ReadSoft is the global leader in the development and sales of a complete product platform for Document Process Automation. With thousands of customers on a global basis, ReadSoft supports customers and partners in North America with offices in 7 locations, including the corporate headquarters in New Orleans, LA.

Established in 1991, ReadSoft was first to bring free form technology for invoice processing to market and first to achieve certifications to enterprise resource planning systems such as SAP and Oracle. ReadSoft has become the global technology leader, with operations in 16 countries and partners in an additional 70. We are proud to have the largest and most innovative development department in the industry, with professional services to assist customers and partners on a global basis. ReadSoft’s vision is to free businesses everywhere from manual document handling. For more information please visit www.readsoft.com.

This press release contains forward-looking statements within the meaning of the federal Private Securities Litigation Reform Act of 1995. Statements contained herein that are not statements of historical fact may be deemed to be forward-looking information. Without limiting the foregoing, references to future growth or expansion are forward-looking, and words such as "anticipates," "believes," "could," "estimate," "expect," "intend," "may," "might," "should," "will," and "would" and other forms of these words or similar words are intended to identify forward-looking information. You should read statements that contain these words carefully because they discuss our future expectations contain projections of our future results of operations or of our financial position or state other forward-looking information. There may be events in the future that we are not able to predict or control accurately, and any forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially. These risks and uncertainties include: (i) the ability to recruit and retain qualified technical and other personnel in a highly competitive market, (ii) market acceptance of our new and future products, (iii) the growth and adoption rate of Windows NT and Windows 2000, (iv) growing competition and (v) our ability to maintain and manage our growth. For additional information regarding risk factors that could affect our future results, please refer to the discussions of "Risk Factors" in our Form 10-Q for the quarter ended June 30, 2000, filed with the SEC on August 8, 2000, and our Form S-1/A Registration Statement Amendment filed on March 9, 2000.

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Contact Information
ReadSoft
Emily Gelpi
504.841.3205
Contact
www.readsoft.com

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