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ReadSoft signs purchase to pay automation agreement worth over 500,000 USD with sporting goods manufacturer

Monday 01. July 2013 - A leading company specializing in the manufacture and sale of sporting goods has chosen ReadSoft's SAP-certified automation solution to process paper and electronic purchase requisitions and invoices throughout its North American purchase to pay operations. In addition to processing purchase requisitions and invoices, the organization will leverage ReadSoft's solution to route procurement cards inside SAP. The agreement is worth over 500,000 USD and was signed during the second quarter of 2013.

With manufacturing facilities across North America, the organization sought an invoice processing solution to reduce the costs and delays associated with manual invoice processing and routing. The company utilizes SAP as its core financial system of record and aimed to partner with a proven, SAP solution provider. ReadSoft was ultimately selected due to its solution’s inherent, tight integration and certification with SAP.
After choosing ReadSoft as the leading solution provider to spearhead its invoice processing initiative, the company soon recognized an opportunity to compound its automation benefits by automating at the beginning of the purchasing process. With ReadSoft’s SAP-certified automation solution, the organization is not only capable of streamlining its invoice process, but also of digitizing purchase requisitions at the start of the purchase to pay process – allowing for automatic comparisons down the line as order confirmations, delivery notes and invoices are processed. Ultimately, ReadSoft’s tool for requisition handling creates a strong foundation for the company’s complete purchase to pay process, laying the groundwork for downstream accuracy and efficiency.
In addition to leveraging ReadSoft’s inside-SAP applications for invoice processing and purchase requisition handling, the organization also aims to utilize ReadSoft’s solution module, P-Card, to process procurement card (P-Card) transactions within the same system as paper, EDI, and e-invoices. By automating the handling of P-Card statements with ReadSoft, the company stands to substantially speed up the reconciliation process even further by enabling electronic approval, allocation, posting and reconciliation of these transactions in the company’s SAP system.
“As companies strive to achieve more with less, automation allows them to maximize their existing investments in SAP while addressing pain points in the end-to-end process,” says Per Åkerberg, CEO of ReadSoft. “We are excited to play an integral role in this organization’s journey to more cost-efficient business operations, and we look forward to more companies leveraging their SAP investments with our purchase to pay technology.”