SOURCE: ReadSoft North America

ReadSoft North America

March 02, 2010 08:30 ET

ReadSoft Teams With Ariba to Help Companies Maximize ERP Investments

Leading Document Process Automation Provider Leverages Ariba Network to Deliver Comprehensive Transaction Processing Solution

NEW ORLEANS, LA--(Marketwire - March 2, 2010) -  Ariba, Inc. (NASDAQ: ARBA), the leading spend management solutions provider and ReadSoft, a global document process automation provider, today announced that ReadSoft will leverage Ariba's offerings to deliver a comprehensive transaction processing solution that enables companies to streamline the invoice approval process and optimize existing investments in enterprise resource planning (ERP) systems.

"The future of AP invoice processing is clear," said Bob Fresneda, President of ReadSoft North America. "To achieve maximum AP efficiency and the cost savings associated with it, companies must be able to convert paper documents to electronic invoices and transmit them to back end systems for processing. In teaming with Ariba, we can provide companies with the tools needed to make this vision a reality."

Over 6,500 enterprises around the globe automate financial document processes such as data entry, document classification, information matching against ERP systems, document workflows, e-invoicing and more with ReadSoft to achieve faster and less expensive document processing and increased control. As an Ariba partner, ReadSoft will leverage Ariba® Network™ in conjunction with its own supplier invoice data capture (OCR) and conversion technology to streamline the processing and approval of invoices across every type of AP transaction, including paper, email, fax, and portal.

Ariba Network is the world's leading global trading platform. Over 200,000 companies -- including 94% of the Fortune 100 -- used Ariba Network to drive more than $114 billion worth of business commerce in 2009. Through Ariba Network, companies can access all of the tools needed to increase the efficiency and effectiveness of the accounts payable and receivable functions and efficiently discover, connect, and collaborate with a global network of trading partners -- all on a single platform.

Seamlessly integrating with Ariba Network, the ReadSoft solution for automated invoicing complements a company's SAP environment, enabling organizations to optimize investments in ERP infrastructure. Using the solution, companies can connect directly to suppliers and eliminate paper at the source, driving both AP efficiencies and cost savings. In addition, organizations can deliver increased value to suppliers by providing visibility into invoice and payment status while already optimizing efficiency, improving visibility, shortening cycle time and improving control of both accounts payable and purchasing operations. 

"In uncertain economic times, companies need solutions that drive process efficiencies and savings that positively impact the bottom line," said Joe Fox, Senior Director, Network and Financial Solutions, Ariba. "In joining forces with Ariba, ReadSoft is providing its customers with access to market-leading technology and a powerful trading network they can leverage to migrate a greater percentage of their invoice volume from paper to electronic documents and deliver immediate, measurable and sustainable results."

About ReadSoft
ReadSoft is the global leader in the development and sales of a complete product platform for Document Process 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 operations in 16 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.

About Ariba, Inc.
Ariba, Inc. is the leading provider of on-demand spend management solutions. Our mission is to transform the way companies of all sizes, across all industries, and geographies operate by delivering technology, service, and network solutions that enable them to holistically source, contract, procure, pay, manage, and analyze their spend and supplier relationships. Delivered on demand, our enterprise-class offerings empower companies to achieve greater control of their spend and drive continuous improvements in financial and supply chain performance. More than 1,000 companies, including more than half of the companies on the Fortune 100, use Ariba solutions to manage their spend from sourcing and orders through invoicing and payment. For more information, visit www.ariba.com.

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