Invoice Processing: French Retail Group Purchases ReadSoft's Electronic Invoice Solution
French retailing group, PIMKIE, has chosen ReadSoft's electronic invoice solution to process 150,000 invoices annually. The multinational group will automate the handling of invoices for its clothing stores in Europe. The deal is one of ReadSoft's largest so far on the French market, and includes products from the recently acquired SAP-specialist ReadSoft Ebydos.
This French-based retail company is a major player in France as well as in Europe with well-known stores and a strong list of brand names. With 655 clothing stores and 6,500 employees, the group reported sales of - 650 million in 2005. PIMIKIE's solution includes electronic invoice processing as well as a workflow and an archiving system, i.e. the Cockpit and WebCycle products from the recently acquired German SAP-specialist ReadSoft Ebydos. Greater efficiency, reducing the costs associated with invoice processing, and making it easier to track invoices are some of the advantages PIMKIE now will experience.
The ReadSoft solution will automatically read the information on the invoice, interpret it, and match it with the Purchase Order and the Goods Receipt Note. After the match has been automatically completed, the invoice is ready for posting into PIMKIE's SAP system. If there are any ambiguities or exceptions, the system will simply forward the invoice electronically to the individual retail outlets for approval. PIMKIE project team says "This solution will enable PIMKIE to handle its expansion much more effectively. ReadSoft's unique ability to automatically match huge volumes of information on individual invoices with purchase orders is expected to really make a difference."
Greater transparency and traceability will also give PIMKIE greatly enhanced opportunities for quickly responding to invoicing inquiries, thereby offering more effective service to its suppliers.
"This deal is positive in many ways," says ReadSoft CEO Jan Andersson. "Most importantly our solution is perfectly suited for international organizations like PIMKIE and will enable them to work more effectively from day one. Also, PIMKIE is a major retail brand in Europe and another good reference for us. We hope to further grow our relationship both with this group as well as within Retailing."
ReadSoft DOCUMENTS for Invoices
More than ten years of experience with electronic invoice processing has produced the most powerful, and by far the most popular (2,000 clients), system on the market. ReadSoft DOCUMENTS for Invoices is a highly profitable investment for just about any business. Fully implemented, electronic invoice processing lowers costs by 25-50%. Meanwhile, the invoicing process speeds up and employees can devote more time to tasks that take advantage of their individual skills. ReadSoft DOCUMENTS for Invoices captures, reads and classifies all incoming formats, whether paper or electronic. The solution, which is customised for simple linkage to leading international enterprise systems, is certified for both SAP and Oracle.
About ReadSoft
ReadSoft is a world-leading supplier of software for document automation. The company develops and markets a complete software platform for document automation under the name of ReadSoft DOCUMENTS. The vision is to release businesses around the world from the need to handle documents manually. Since starting in 1991, ReadSoft has grown to a worldwide Group with eleven subsidiaries in Europe, North America, South America and Australia, as well as a large number of local and global partners. The head office is in Helsingborg, Sweden, which - along with Stockholm - also houses the Group's main research and development unit. The ReadSoft share has traded on the O list of the Stockholm Stock Exchange since 1999. Find out more at www.readsoft.com.