News | September 18, 2012

ReadSoft Releases New Study That Shows Rise In The Adoption Of AP Automation And Workflow

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The free report, Invoice and Workflow Automation Adoption, is produced by PayStream Advisors and made available by ReadSoft at http://bit.ly/QFsvRe.

New Orleans, LA - Newly released research confirms the strong, continuing trend that more companies are implementing front-end automation and automated workflow in order to reduce paper and the inefficiencies and costs associated with manual processing in accounts payable (AP). According to the report, the share of companies employing or deploying automated workflow solutions has now reached the milestone of more than 50 percent.

The annual study provides accounting and finance professionals insight into the evolution of the marketplace and serves as a tool for them to:

  • Benchmark their operations with peer organizations
  • Understand the extent of adoption of various forms of AP automation
  • Better familiarize themselves with the technology landscape

Conducted by PayStream Advisors and made available in part by ReadSoft, the report integrates trend analysis based on nine years of findings including the most recent data from 300 surveys conducted in the second quarter of 2012.

Henry Ijams, Managing Director of PayStream Advisors, reports “The adoption of invoice automation and automated workflow is on the rise because organizational leaders are recognizing the proven benefits that it brings to their organizations. Whether it’s quicker approval cycles, increased productivity or lower processing costs, they know that the technology delivers–and this drives their interest.”  

Interested practitioners and leaders in IT, accounting and finance can download the entire report at no cost at http://bit.ly/QFsvRe.

About PayStream Advisors:

PayStream Advisors is a technology research and consulting firm that improves the way companies plan, evaluate, and select emerging technologies to achieve their business objectives.  PayStream Advisors assists clients in sorting through the growing complexities of IT applications related to business process automation with the goal of making objective, analytical, and actionable recommendations.  Wherever business process automation technology is an issue, PayStream Advisors is there to help.  For more information, visit www.paystreamadvisors.com.

About ReadSoft:

ReadSoft is the leading global provider of software solutions for document process automation. Its software enables companies of various sizes and diverse industries to automate business processes, such as accounts payable processing, purchasing, document capture, document sorting and order to cash. Today, ReadSoft has operations in seventeen countries and on six continents and supports more than 10,000 companies around the globe with its automated software solutions.

ReadSoft North America supports its valued customers and partners with offices in seven locations throughout the United States, including its corporate headquarters in New Orleans, Louisiana. For more information, visit www.readsoft.com

This press release contains forward-looking statements within the meaning of the federal Private Securities Litigation Reform Act of 1995. Statements contained herein that are not statements of historical fact may be deemed to be forward-looking information. Without limiting the foregoing, references to future growth or expansion are forward-looking, and words such as "anticipates," "believes," "could," "estimate," "expect," "intend," "may," "might," "should," "will," and "would" and other forms of these words or similar words are intended to identify forward-looking information. You should read statements that contain these words carefully because they discuss our future expectations contain projections of our future results of operations or of our financial position or state other forward-looking information. There may be events in the future that we are not able to predict or control accurately, and any forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially. These risks and uncertainties include: (i) the ability to recruit and retain qualified technical and other personnel in a highly competitive market, (ii) market acceptance of our new and future products, (iii) the growth and adoption rate of Windows NT and Windows 2000, (iv) growing competition and (v) our ability to maintain and manage our growth. For additional information regarding risk factors that could affect our future results, please refer to the discussions of "Risk Factors" in our Form 10-Q for the quarter ended June 30, 2000, filed with the SEC on August 8, 2000, and our Form S-1/A Registration Statement Amendment filed on March 9, 2000.

SOURCE: ReadSoft

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