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TMCNet:  ReadSoft Inks Contract with an International Bank

[March 29, 2013]

ReadSoft Inks Contract with an International Bank

Mar 29, 2013 (Close-Up Media via COMTEX) -- A large banking institution has chosen ReadSoft's SAP-certified invoice automation solution to process over hundreds of thousands electronic and paper invoices in its global shared service center operations.


According to a release, the license and maintenance agreement signed is worth an initial 430,000 EUR and was signed in the first quarter of 2013.

The bank wants to increase the volume of invoices processed due to a large expansion while continuing to benefit from the elimination of manual processing and driving up automation rates in its P2P processes for all types of invoice documents. The bank is standardizing its global processes and looking to scale across its brands and drive global cost efficiencies within a shared services model.

The desire to drive touchless processing with rapid deployment was a key factor. ReadSoft was chosen as the best solution to enable common financial processes across the bank's SAP environments, while replacing a number of other third party systems as part of the global standardization.

In countries where the bank wishes to accelerate its expansion, they will adopt a more cloud enabled model, including mobile approvals. The whole solution will be fully live across the globe by the end of 2013.

The chosen solution, ReadSoft PROCESS DIRECTOR for SAP is a modular way to handle not just AP processes but a multitude of business process automation tasks such as delivery notes, sales orders, or remittance advices and provides a platform for automating many core business processes.

"We constantly see that large global companies are looking for quick deployments of efficient and scalable solutions. This means adopting standardized processes and working with a partner who has proven capabilities. This bank is no exception. Starting with automated invoice processing, it can immediately maximize its existing investments in SAP, whilst reducing invoice processing cycle times and improving control over the finance function." says Per Akerberg, President and CEO of ReadSoft.

Simon Shorthose, Managing Director of ReadSoft UK said: "Whether on-premise, off-shore or in the cloud; no matter the volume, ReadSoft has the capabilities and scalability to help. Long term partnerships yield great results for both parties and that's something we're committed to." ReadSoft is a global provider of software solutions for document process automation in the cloud or on premise.

More information: http://www.readsoft.com ((Comments on this story may be sent to newsdesk@closeupmedia.com))

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