Public (OMX Stockholm:)
|Founded||Helsingborg, SWE (1991)|
|Headquarters||Helsingborg, Sweden, SWE|
|Key people||Per Åkerberg, CEO
Göran E Larsson, Chairman
Jan Bertilsson, CFO
Lars Appelstål, CTO
Peter Sandin, COO
|Products||Software that automates the processing of documents in different business processes and ERP environments|
|Revenue||SEK 663 million (2011)|
|Net income||SEK 74.5 million (2011)|
ReadSoft is a company that develops, markets and supports software that automates the processing of documents, such as invoices, in different business processes and ERP environments within organizations. ReadSoft was founded by two university students in Linköping, Sweden, in 1991, both of which are still actively involved in the management of the company. Today ReadSoft employs ca 500 employees across the globe. Its headquarter is located in Helsingborg, Sweden. ReadSoft has subsidiaries in 16 countries and partners in an additional 70.
ReadSoft is regarded as "AP invoice specialist" - AP is a common abbreviation of Accounts Payable - by Gartner, an independent information technology research and advisory company. Specialist software is designed to integrate with the AP software from ERP systems, such as Oracle and SAP. For example, ERP integration may take advantage of single-sign-on processes, eliminating the need for employees to juggle multiple logons and systems.
With more than 7,000 customers, ReadSoft claims to be the market leader of the Document Process Automation segment - a term first coined by ReadSoft itself to cover the technology that automates the processing of business documents. It involves data capture and extraction (optical character recognition) from paper and electronic documents, integration with company's existing ERP system and routing to company agents for approvals and problem resolution via workflow.
ReadSoft maintains SAP and Oracle competency/development centers which provide integrated solutions for companies with SAP or Oracle, respectively. Market analyst firm Harvey Spencer Associates reports ReadSoft with a 13% market share.