Lexmark Launches ReadSoft Online R8 for Accounts Payable Processing in the Cloud

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LEXINGTON, Ky. – (17 February 2016) Lexmark (NYSE:LXK), a global technology company, announces the release of ReadSoft Online R8, a cloud-based invoice processing solution designed specifically for accounts payable functions in small and medium businesses. Invoice capture and process automation with ReadSoft Online reduces manual data entry and cost-per-invoice processing by as much as 90 percent, while helping eliminate duplicate or lost invoices.

ReadSoft Online integrates with many ERP systems and incorporates business logic with country-specific knowledge to efficiently capture data from vendor invoices.  Invoices can be uploaded into ReadSoft Online or it can be used to scan paper-based invoices and capture invoices received via email. After the business-critical content has been extracted and verified, that invoice data can be automatically routed to an optional approval workflow. Invoice images and data can then be transferred to downstream applications and repositories.

“ReadSoft Online R8 brings an affordable accounts payable processing solution to the SMB market,” said Reynolds C. Bish, vice president of Lexmark and president of Lexmark Enterprise Software. “As a cloud-based, multi-tenant platform, ReadSoft Online can be provisioned and ready to use in a matter of hours, giving small and medium-sized businesses access to a powerful solution that can significantly improve their operations and productivity.”

Running on Windows Azure, the ReadSoft Online multi-tenant cloud solution offers secure 24/7 availability and access to real-time product updates. More than 2,700 small and medium businesses already rely on ReadSoft Online to improve their operations and productivity.

ReadSoft Online R8 Features Include:

  •          Enhanced line item extraction and verification
  •          Enhanced user experience with a more intuitive, modern user interface
  •          Excel imports for supplier and purchase order master data
  •           Support of 18 different languages of invoice origin, including simplified Chinese
  •           Expanded supplier recognition capabilities

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