Helsingborg, Sweden, Nov 5, 2007 - (Hugin via ABN Newswire) - Whirlpool, the world's leading manufacturer and marketer of major home appliances, is investing in electronic invoice processing from ReadSoft. The initial agreement covers the processing of approximately 250,000 invoices annually throughout the company's European subsidiaries. The value of the agreement is over 200,000 EUR.

Whirlpool has decided to automate and digitalize all supplier invoice handling. Their Shared Service Centre in Dublin, Ireland receives a major part of their supplier invoices in an electronic format from 18 European countries every day. The new, entirely automated, work process will be put into production during the first quarter of 2008. If things go according to plan, the solution will expand to cover the rest of the Whirlpool Group as well.

The investment includes a full integration with Whirlpool's SAP system and an electronic workflow. The solution from ReadSoft will provide Whirlpool with a series of advantages including greater efficiency, cost reductions associated with invoice processing, and facilitated invoice tracking.

Per-Olof Nyman, CFO of Whirlpool in Europe, says "We were looking for an application that would be totally integrated with our SAP system, be highly functional, and be able to provide the global support that a group of our size requires. We have very high expectations for it."

Greater transparency and traceability will give Whirlpool greatly enhanced opportunities for quickly responding to invoicing inquiries, enabling them to provide suppliers with a more effective service.

"Our solution is perfectly suited to SAP's enterprise system and satisfies the strict requirements of multinational companies like Whirlpool, when it comes to handling invoices and payment," says ReadSoft CEO Jan Andersson. "Our task now is to make the roll-out in Europe a success, thus enabling us to further develop the collaboration."

About Whirlpool Corporation Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of more than $18 billion, more than 73,000 employees, and more than 70 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Bauknecht and other major brand names to consumers in nearly every country around the world. Additional information about the company can be found at http://www.whirlpoolcorp.com.

ReadSoft DOCUMENTS for Invoices More than ten years of experience with electronic invoice processing has produced the most powerful, and by far the most popular (2,000 clients), system on the market. ReadSoft DOCUMENTS for Invoices is a highly profitable investment for just about any business. Fully implemented, electronic invoice processing lowers costs by 25-50%. Meanwhile, the invoicing process speeds up and employees can devote more time to tasks that take advantage of their individual skills. ReadSoft DOCUMENTS for Invoices captures, reads and classifies all incoming formats, whether paper or electronic. The solution, which is customised for simple linkage to leading international enterprise systems, is certified for both SAP and Oracle.

------------------------------------------------ For additional information, contact ---------------------------------------

ReadSoft AB Jan Andersson, CEO, ReadSoft

Phone: +46 708 - 37 66 00 Jonna Opitz, Vic President, Corporate Communications Phone: +46 733 - 37 86 68 jonna.opitz@readsoft.com

ReadSoft is a world-leading supplier of software for document automation. The company develops and markets a complete software platform for document automation under the name of ReadSoft DOCUMENTS. The vision is to release businesses around the world from handling documents manually. Since starting in 1991, ReadSoft has grown to a worldwide Group with offices in 15 countries in Europe, North America, South America and Australia, as well as a large number of local and global partners. The head office is in Helsingborg, Sweden, which - along with Stockholm - also houses the Group's main research and development unit. The ReadSoft share is traded on the Nordic Stock Exchange Small Cap list. Find out more about ReadSoft on www.readsoft.com



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