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ReadSoft software will speed processing of 100,000 invoices a year

Milton Keynes UK, June 15, 2005 – ReadSoft DOCUMENTS for INVOICES software has been selected by BBC Worldwide - the UK’s number one exporter of TV programmes, and the UK’s third-biggest consumer magazine publisher - to help automate the processing of 100,000 purchase invoices a year from 20,000 suppliers.

The £175,000 software purchase is for an automated invoice processing solution which also includes Ebydos’ Invoice Cockpit and Web Cycle software. This solution will enable the company to rapidly increase efficiency, reduce the costs associated with invoice processing, and make it easier to find/track invoices when compared with paper-based processes.

Faced with the high costs and time involved in keying supplier invoice details into its SAP ERP (enterprise resource planning) system, as well as handling the queries that arose from those invoices, the company sought an easy-to-use, scaleable and proven solution that automated the handling of invoices.

The selection of ReadSoft DOCUMENTS for Invoices will enable the company’s accounts payable staff to automatically scan, interpret, verify and transfer invoice images and data to SAP. Integration with Ebydos’ solutions will also allow them to visually check captured data and benefit from Web-based workflow for approval and payment of the invoices, with an audit trail to meet compliance requirements.

David Wren, Head of Financial Accounting Services at BBC Worldwide, said: “Through the implementation of ReadSoft DOCUMENTS for Invoices we will be able to realise substantial annual cost savings, achieve a reduction in the overall processing time within the procure-to-pay process and improve the working environment by removing repetitive and tedious tasks.”

Improved controls and traceability will also help the company to identify the status of any invoice queries within its workflow, enabling speedier resolution of invoice queries.

Colin Kaye, President of ReadSoft in the UK, said: “ReadSoft DOCUMENTS for Invoices is part of an out-of-the-box solution for SAP that will fulfil BBC Worldwide’s automated invoice processing requirements. With a rapid six-week implementation schedule, this solution will enable the organisation to start realising immediate financial returns.”

ReadSoft DOCUMENTS for INVOICES is part of the ReadSoft DOCUMENTS platform, a complete solution for Document Automation which incorporates solutions for not only electronic invoice handling, but also forms processing, electronic mailroom, indexing, and rapid EDI.

For further information on ReadSoft, visit www.readsoft.co.uk, email info-uk@readsoft.com, or call + 44 (0) 1908 688000.

For media information, please contact:

Russell Henley
VP sales and marketing
Tel: + 44 (0) 1908 688000
Email: russell.henley@readsoft.com

About ReadSoft
ReadSoft is the world’s leading supplier of software for Document Automation. The company develops and markets a complete product platform for Document Automation - ReadSoft DOCUMENTS. The vision is to free businesses everywhere from manual document handling in order to drive business efficiency. Since its founding in 1991, ReadSoft has developed into a global group with 11 subsidiaries in Europe, North and South America and Australia, and a large number of local and global partners. ReadSoft is headquartered in Helsingborg, Sweden, and has UK offices in Milton Keynes. ReadSoft has been listed on the Stockholm stock exchange since 1999. For more information visit www.readsoft.com

About BBC Worldwide
BBC Worldwide Limited is the commercial consumer arm, and a wholly owned subsidiary, of the British Broadcasting Corporation (BBC). The company was formed in 1994 to develop a co-ordinated approach to the BBC’s commercial activities: television, channels, publishing, product licensing, internet and interactive. BBC Worldwide exists to maximise the value of the BBC’s assets for the benefit of the licence payer, and re-invest in public service programming. For more information visit www.bbcworldwide.com

Published on: 12:00AM on 15th June 2005