SOURCE: ReadSoft North America

September 13, 2007 12:56 ET

American Biopharmaceutical Company Implements ReadSoft's SAP-Certified Solution to Automate Their Purchase-to-Pay Process

NEW ORLEANS, LA--(Marketwire - September 13, 2007) - American biopharmaceutical company CV Therapeutics sought out a solution to increase the productivity of their SAP-based accounts payable process. They purchased ReadSoft's SAP-certified solution which is expected to go into live production within 60 days.

ReadSoft is the leading solution provider for automation of document processing in SAP environments and offers solutions to optimize and extend the performance of SAP systems. The company designed the system to reside within the SAP landscape and accelerate the entire accounts payable cycle process. CV Therapeutics required a system that was tightly integrated with SAP, had little to no customizations, and offered reporting capabilities -- all while enabling the organization to image and automate the processing of incoming invoices. This made ReadSoft a strong fit for such an environment.

Brian Shew, Vice President of Information Management for CV Therapeutics, described the company's motivation for selecting ReadSoft as the vendor of choice for the project. "First, we were pleased with the potential gains in efficiency through OCR and electronic processing. Second, with all accounts payable data being electronic with ReadSoft technology, the company would have full visibility to accounts payable. Lastly, the ReadSoft solution would enable accounts payable metrics to be collected automatically on the department and company."

"We were pleased to learn that ReadSoft's SAP accounts payable automation solution can benefit and be cost effective for a medium-size company," said Shew. "Over time, we hope to make significant gains in AP processing."

"As an internationally recognized leader in invoice automation, we understand the challenges felt by accounts payable departments like at CV Therapeutics," said Bob Fresneda, President of ReadSoft North America. "We have over 300 installations using SAP across the world, which gives us unique insight and experience when implementing SAP-integrated solutions for accounts payable automation."

CV Therapeutics will use ReadSoft's invoices business solution for SAP, of which all components are certified directly from SAP. Products include ReadSoft DOCUMENTS for Invoices, the imaging and data-capturing component, as well as INVOICE COCKPIT and WEBCYCLE, which provides routing and workflow capabilities for exception handling, coding and approvals. In addition, CV Therapeutics will use ANALYZER to provide reports and statistics on their accounts payable document flow in SAP.

About ReadSoft:

ReadSoft is the global leader in the development and sales of a complete product platform for Document Automation. With thousands of customers on a global basis, ReadSoft supports customers and partners in North America with offices in 7 locations, including the corporate headquarters in New Orleans, LA.

Established in 1991, ReadSoft was first to bring free form technology for invoice processing to market and first to achieve certifications to enterprise resource planning systems such as SAP and Oracle. ReadSoft has become the global technology leader, with subsidiaries in 11 countries and partners in an additional 70. We are proud to have the largest and most innovative development department in the industry, with professional services to assist customers and partners on a global basis. ReadSoft's vision is to free businesses everywhere from manual document handling. For more information please visit www.readsoft.com.

Contact Information

  • For more information, please contact:

    Alayne Pregeant
    Marketing Manager
    ReadSoft.
    504.841.0119
    Email Contact

    Bob Fresneda
    President
    ReadSoft.
    504.841.0111
    Email Contact