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Milton Keynes, UK, January 31st, 2012 - ReadSoft, a global provider of software for back office process automation, announces the launch of ReadSoft Online, a cloud based service that automatically captures data from documents including supplier invoices. ReadSoft Online represents a simple, flexible choice for document and invoice automation, with a low cost of ownership.

ReadSoft Online is a user-friendly web application which incorporates the company’s globally proven advanced back office automation technology. ReadSoft Online delivers flexibility for small to medium businesses, even if a company lacks a dedicated IT resource. With the provision of an easy to operate on-network one-touch scanner, businesses can immediately bring their back office processes and automation online, transforming the collection, storage and management of paper and electronic documents.

Users can scan, upload or send via e-mail documents and invoices to ReadSoft Online. The software automatically extracts the relevant data from the fields. It is then verified, and sent to the receiving applications along with related images. The images can be automatically stored within the Cloud providing very low cost, short term storage and back up, with immediate access to the business user or finance department.

Simon Shorthose, Managing Director, ReadSoft UK: “One of the frustrations facing business growth is the repeated delays when delivering new back office projects. With the need to juggle internal resources, capital expenditure for new on premise solutions, even in the best of business cases, can be prohibitive. ReadSoft Online gives companies a new choice with a quick to implement service that delivers leading back office automation. With just the operating costs to meet, ReadSoft Online makes it easier to manage the back office and plan for future growth.”

While the adoption of cloud computing is accelerating across all organisations, it is particularly important for those which are planning to expand operations, and software as a service (SaaS) such as ReadSoft Online represents a way to quickly ‘get out of the gate’.

Over the past 5 years - according to the Aberdeen Group’s 2011 Enterprise Resource Planning (ERP) survey - there has been an increased willingness to consider SaaS ERP, and 2011 saw the largest increase yet. 41% of businesses considering SaaS ERP are looking for the best fit solution. For those companies considering offloading all finance ERP to the Cloud, ReadSoft Online provides a self contained low risk, low cost way to make a first move into using Cloud. Scalable by volume and supported by an internationality of product, ReadSoft Online has the power of a leading innovator in the global accounts payable market behind it, helping any company, no matter the size to use the Cloud to help them grow on a global business stage.

ReadSoft is working with key ERP vendors in the UK to integrate ReadSoft Online into their applications, delivering new ways for organisations to manage their invoices, expenses, human resources and other general documentation.

For more on ReadSoft Online visit


As follows of this press release, ReadSoft’s counterparty in the transaction or co-operation is not mentioned by name. This is due to that ReadSoft’s counterparty has required to be anonymous. This information is such that ReadSoft AB (publ) is to publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on January 31, 2012 at 11:30 CET.

For additional information, please contact:

Gary Marshall
XL Communications
Tel. +44 (0)77 3322 4654

About ReadSoft
ReadSoft is the largest global provider of software and services to businesses that want to better control and improve back office and administrative processes. ReadSoft’s products enable companies to automate data entry, classification, ERP matching, workflows, and e-invoicing. Results achieved by using Readsoft’s automation are improved productivity and compliance, and reduced cost and time. Founded in 1991 Readsoft has operations on five continents. The company is headquartered in Helsingborg, Sweden and trades on the NASDAQ OMX – Stockholm’s Small Cap List. For more information about ReadSoft, please visit

This press release was distributed by ResponseSource Press Release Wire on behalf of XL Communications in the following categories: Business & Finance, Public Sector, Third Sector & Legal, Computing & Telecoms, for more information visit