ReadSoft Signs Agreement Worth 553,000 EUR with German Insurance Company

Regulatory News:

A leading German insurance provider has chosen to implement ReadSoft’s (STO:RSOFB) product XBOUND to handle incoming data to their new document storage system. The deal was signed during the fourth quarter in 2012 and is worth 553,000 EUR and includes a five year maintenance agreement.

The customer is one of Germany’s biggest insurers. Together with ReadSoft the insurer wants to implement a new document storage system for their innovative archiving system with an interface to ReadSoft’s product XBOUND which provides considerable benefits in terms of process modelling, overall monitoring as well as administration and database architecture making it highly cost-effective.

The insurer must, among other things, make sure that all business relevant information is immediately stored to comply with the German laws. One significant input channel for the archiving and the storage system is processed documents via XBOUND.

The company selected ReadSoft through a competitive selection process. ReadSoft’s ability to deliver all requested product components and willingness to rapidly deploy the implementation within the requested time frame was the key for this order. The implementation will commence immediately.

"It is great to see ReadSoft again being chosen ahead of its competitors in a selection process,” says Per Åkerberg, President and CEO of ReadSoft. "This agreement is further evidence of the strength of our offering to the insurance industry where software solutions that can handle large volumes of documents are business critical.”

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 December 28, 2012 at 13:00 CET.

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 (http://www.readsoft.com/purchase-to-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx), document sorting (http://www.readsoft.com/software-products/document-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx). ReadSoft is by far the world’s number one choice for automated invoice processing (http://www.readsoft.com/software-products.aspx), especially into business systems from SAP (http://www.readsoft.com/default/sap-solutions) and Oracle (http://www.readsoft.com/default/oracle-solutions). Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 17 countries on six 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 Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.

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