According to the company, Reporter is an add-on to its Invoices product, a software for data capture from invoices. By using Reporter, ReadSoft’s customers will be able to view trends in their invoice processing, see how long it takes to process invoices from certain suppliers, find out where bottlenecks are, and much more. These reports and statistics will enable users to pinpoint the strengths and weaknesses in the accounts payable department and improve their invoice processing substantially.
ReadSoft has said that the software uses a technique called associative data mining which means that everything is available instantly. Users can get reports on anything they like simply by clicking on a specific year, user, supplier etc.
The software is powered by QlikView technology, and enables users to reach reports by simply clicking around. Pilot customers are already up and running in Sweden and France and the response has been very positive. Now, this technology is being rolled out to the rest of the world, said ReadSoft.
Peter Horwing, senior vice president of sales and marketing at ReadSoft, said: We have great expectations for this new technology. Our customers already save a lot of time and money by using our software and now they can get exact and immediate reports on their efficiency gains. The software adds value to all customers wanting to optimize their accounts payable processes.