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2014-06-30

ReadSoft: ReadSoft signs agreement worth 1.1 MEUR with one of Germany's largest public health insurance companies

ReadSoft in Germany has signed a major deal with a leading public
health insurance company. The existing customer since many years will
extend its use of ReadSoft's multichannel process automation solution
for all incoming documents, regardless of format, such as email,
paper and fax. The agreement is worth 1.1 MEUR and consists of
licenses, support, maintenance and services and was signed in the
second quarter of 2014.

The existing customer to ReadSoft for many years is one of the largest
public health insurance companies in Germany with several millions of
insured members. The insurance company who handles large volumes of
incoming documents wanted to increase their efficiency and was
looking for a high-volume mailroom solution to automate
classification and extraction of all incoming documents, and to
enable straight through processing gaining greater processing
efficiencies across the enterprise. The customer was also seeking a
multi-channel solution to handle an increased volume of all sorts of
incoming documents, regardless of format, such as paper, fax and
email.

After extensive benchmarking and a thorough proof of concept process
the customer chose ReadSoft for its expertise within capture
automation and multi-channel process automation and for the great
benefits of the modular architecture of XBOUND. Combined with
ReadSoft's proprietary capture technology the performance of the
solution proved to be the best choice. The customer also found it
very useful in their decision process that XBOUND allows the use of
different technologies to process documents together with the ability
to set up new processes quickly and without additional programming.
The customer will replace their existing and competing capture and
classification solution with ReadSoft's Capture Components.

"When an existing customer upgrades our installed solutions and
replaces competitor's products with our products and solutions it is
an excellent proof of our high performance and world-leading
solutions," says Per Åkerberg, President and CEO of ReadSoft. "This
deal highlights how our flexible solution for insurance companies can
improve their operations and generate significant efficiency gains
and cost savings. We look forward to working with them for many more
years," finishes Per Åkerberg.

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 July 1, 2014 at 09:00 CET.

For additional information, please contact
ReadSoft AB
Johan Holmqvist, Vice President Corporate Communications
Phone: +46 708 37 66 77
Email: johan.holmqvist@readsoft.com

About ReadSoft. ReadSoft simplifies business for organizations of all
sizes with applications for business processes such as accounts
payable automation
(http://www.readsoft.com/solutions/by-department/accounts-payable-automation),
accounts receivable
(http://www.readsoft.com/solutions/automation-for-sap/accounts-receivable),
sales order processing
(http://www.readsoft.com/solutions/automation-for-sap/sales-order-process...),
and multichannel mailroom automation.
(http://www.readsoft.com/solutions/document-process-automation/mailroom-a...)
Its on-premises and cloud document process automation solutions
(http://www.readsoft.com/solutions/document-process-automation/mailroom-a...)
enable some of the world's largest corporations as well as small and
medium businesses to compete and thrive in today's environment by
improving customer and supplier satisfaction, increasing operating
efficiency, and providing greater visibility into business processes.
ReadSoft is the world's number one choice for invoice processing
automation
(http://www.readsoft.com/solutions/document-process-automation/invoice-pr...),
and its applications integrate seamlessly with ERP systems from SAP
(http://www.readsoft.com/solutions/automation-for-sap/sales-order-process...),
Oracle
(http://www.readsoft.com/solutions/automation-for-oracle-e-business-suite),
Microsoft
(http://www.readsoft.com/solutions/document-process-automation/invoice-pr...),
as well as with many other business systems. Since 1991, the company
has grown into a worldwide group, delivering industry expertise and
support in 17 countries on six continents through its local and
global partner network. ReadSoft is headquartered in Helsingborg,
Sweden, and its share is traded on the NASDAQ OMX Stockholm's Small
Cap list. Visit www.readsoft.com.

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http://news.cision.com/readsoft/r/readsoft-signs-agreement-worth-1-1-meu...
http://mb.cision.com/Main/493/9610483/262535.pdf

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