ReadSoft Updates Accounts Payable Platform

The company enhanced its ReadSoft Online cloud-based offering for automating end-to-end accounts payable processes.

Business process applications developer ReadSoft added significant market-responsive capabilities to its ReadSoft Online cloud-based offering for automating end-to-end accounts payable (AP) processe.

Among the enhancements are improved visibility, including real-time status and document history, which is now available to all stakeholders throughout approval workflow process. Also, in addition to invoices, other supporting documents may now be uploaded, stored and available to the user to view.

The company also updated user configurations to enable supplier-level, straight-through processing and greater control over business rules, while screens are now easier to view and email notices for approval workflow have also been improved.

ReadSoft Online is flexible and user-friendly, according to Oddny Nyhagen, IT manager at Amesto AccountHouse. "Our customers particularly appreciate the immediate access to invoices, the approval workflow system, and even storage," Nyhagen said in a statement. "They can now receive invoices in multiple formats, including emailed invoices and paper invoices, all in one single application. And their suppliers can now send their invoices directly to ReadSoft Online."

Other upgrades include improved data capture and approval workflow integration with enterprise resource planning (ERP) systems, such as Microsoft Dynamics AX 2009 and 2012, e-conomic and NetSuite.

New architectural enhancements support clustered environment installations to enforce application high availability requirements, and facilitate automatic fail over and load balancing.

The company has also provided for expanded interface capabilities with several invoice-generating applications and supplier-onboarding software Visma Business. To provide greater flexibility and adaptability, user requirements are now met with more customization options.

Since its launch in 2010, the platform—the company’s software-as-a-service (SaaS) cloud-based solution—has evolved from a best-practice front-end invoice data capture and extraction service to one that automates the end-to-end AP process with approval workflow and online document storage.

A platform update in September expanded invoice approval mobile functionality, shared worklist capability to better manage workload balancing, support for various user-authentication methods and more.

"We’re currently processing about 3 million invoices in the cloud, and that number continues to grow every month," Per Akerberg, president and CEO of ReadSoft, said in a statement. "The increased interest around ReadSoft Online is the result of a customer-centric philosophy that drives innovation and mutual success."

Companies across Asia, and North and South America—many of which are small and midsize businesses (SMBs) seeking a solution that can address AP inefficiencies without an initial capital investment—are now using the new platform, which was first released in Europe.