ReadSoft signs large XBOUND contract worth 1.8 MEUR with

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News Desk 2018

Sep 6, 2013 at 4:15 AM

ReadSoft signs large XBOUND contract worth 1.8 MEUR with leading German BPO company

ReadSoft Germany has reached a significant agreement with a large Business Process Outsourcing (BPO) company for the insurance market in Germany. The deal is worth 1.8 MEUR and was signed in the third quarter of 2013. The deal includes licenses, maintenance and support. The organization, which serves large insurance companies on the German market, has purchased ReadSoft’s XBOUND mailroom solution. Previously the BPO company processed only forms automatically for some of their insurance customers. To increase efficiency they were looking for a 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 organization was also seeking a multi-channel solution to handle paper, fax and email. After extensive benchmarking the customer chose ReadSoft for its expertise in multi-channel process automation and for the great benefits of the modular architecture of XBOUND. 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. “This significant deal highlights how our solution for BPOs and for insurance companies can improve their operations, making ReadSoft an attractive business partner with world leading solutions, says Per Åkerberg, President and CEO of ReadSoft.”Our flexible solution is set to help; in this case, a large BPO specialized on insurance processes makes significant efficiency gains and cost savings. We look forward to helping them to a bright, more efficient successful future,” 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 September 6, 2013 at 10:00 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 is a leading global provider of software solutions for document process automation (http://www.readsoft.com/solutions/document-processing) in the cloud (http://www.readsoft.com/solutions/document-processing/capture-in-the-cloud)or on premise. ReadSoft is by far the world’s number one choice for invoice processing automation (http://www.readsoft.com/solutions/document -processing/invoice-processing), especially into business systems from SAP (http://www.readsoft.com/solutions/automation-for-sap) and Oracle (http://www.readsoft.com/solutions/automation-for-oracle). ReadSoft’s software enables companies to automate document processes such as accounts payable processing (http://www.readsoft.com/solutions/by-department/accounts -payable), and mailroom automation (http://www.readsoft.com/solutions/document -processing/mailroom-automation). 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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