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• Moving to e-invoicing saves 80% on current invoice costs
• EU directive on e-invoicing in force on 1st January 2013
• Higher quality of data extraction for fully compliant audit trail

Businesses that have invested in automated data capture from invoices with ReadSoft, a specialist in document and back office automation, can reduce costs further and bring finances in line with the new EU directive on e-invoicing in just one day with the latest release of COLLECTOR for ReadSoft INVOICES.

COLLECTOR is a simple, installed-in-a-day addition to INVOICES, which permanently monitors a dedicated e-invoice email inbox. When an invoice arrives, no matter the format (text, Word, Excel, PDF, TIF, PNG, or JPEG), COLLECTOR automatically extracts the relevant information and posts it directly into the finance system.

By speeding up invoice processing and removing the need for print and post, ReadSoft customers moving to e-invoicing save 60-80% of their current invoice costs, improve office efficiency and meet environmental concerns by reducing paper use.

On 1st January 2013, the EU will introduce a new directive on the electronic transfer of invoicing information (billing and payment) for all European organisations. Under this directive, businesses moving to e-invoicing will be required to have business controls to guarantee the authenticity, integrity and legibility of an e-invoice, and create a reliable audit trail between an invoice and a supply of goods or services. This ensures invoices will be treated with equal importance, whether in electronic or paper format, ensuring compliance and better business practice.

Simon Shorthose, Managing Director, ReadSoft UK says: “European businesses could save €64.5 billion per year by adopting new e-invoicing initiatives. COLLECTOR represents a simple, fast, painless way for these businesses to move over to e-invoicing. It helps companies meet the requirements of the EU directive, and ushers in truly paperless invoice handling, reducing both costs and effort, whilst raising the quality of data extracted and providing a full audit trail.”


For additional information, please contact:

XL Communications
Gary Marshall
Phone: +44 77 3322 4654

ReadSoft UK
Adam Chapman, Director of Marketing, UK
Phone: +44 19 0868 8000

About ReadSoft

ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Nordic Exchange 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: Environment & Nature, Business & Finance, Computing & Telecoms, for more information visit