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December 30, 2008updated 06 Sep 2016 2:20pm

ReadSoft automates invoice processing for oil company

To manage the group's accounts payable processes

By CBR Staff Writer

ReadSoft, a provider of software for document automation, has signed a global agreement worth E350,000 with an international oil and gas group to automate invoice processing and increase efficiency in its accounts payable department.

This group is expected to start using Reporter, ReadSoft’s new software for reporting and statistics.

According to ReadSoft, the oil and gas company was looking for an automated way to handle its incoming invoices in order to get better tracking of supplier invoices and managing its accounts payable processes.

ReadSoft said that its software will automatically capture information from incoming invoices and match this information against purchase orders in the customer’s SAP system. An electronic workflow will enable the invoices to be passed around for approval throughout the group.

Jan Andersson, president and CEO of ReadSoft, said: We are very happy about this deal. Not only is it yet another proof of our leadership when it comes to invoice processing into SAP, it is also a very important reference for our new Reporter software which we have high hopes for. This customer will be able to get invaluable statistics about its invoice flow and use this to optimize its invoice process even further.

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