ReadSoft, a leading provider of software for back office process automation, has been rated as ‘Strong’ in the latest global financial business analysis report from Plimsoll.
As part of an independent assessment of the 500 largest data processing companies in the world, Plimsoll monitored the financial performance of ReadSoft over the past four years, before issuing this ‘Strong’ rating. This provides ReadSoft’s partners and customers with an unbiased analysis of the company’s financial strength, and also benchmarks the company performance within the global market.
The ‘Strong’ rating was achieved, according to Plimsoll, against a recent history of intense competitive pressure within the global market. A third of the 500 companies it assessed are currently making a loss, with almost 20% facing financial threats. 10% where seen as vulnerable to hostile takeover, which can have a considerable impact on both partners and customers alike.
Peter Bennett, Global Analyst, Plimsoll, said ReadSoft was: “One of only 252 data processing companies around the world that are performing well.”
This finding is in line with the organisation’s recent excellent performance, which has seen ReadSoft exhibit solid growth, as well as the acquisition of the XBOUND business process automation platform. This solution immediately complements and extends the company’s offering for business process outsourcers (BPOs). The combination of ReadSoft DOCUMENTS and XBOUND also creates a very strong end-to-end capture solution for partners to bring to new and existing prospects.
Simon Shorthose, Managing Director, ReadSoft said: “ReadSoft has worked hard to build an unwavering reputation for excellence in the field of document and business process automation. The combination of our software and business consultancy is helping drive efficiencies so that customers can regain control of operations. This has helped to raise our profile as a trusted business that UK organisations can work with to improve their day to day business.”
ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm’s Small Cap list. For more information about ReadSoft, please visit www.readsoft.co.uk
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