ReadSoft

ReadSoft, now part of Tungsten Automation (formerly Kofax), is a Swedish-founded document automation provider specializing in invoice processing, accounts payable automation, and forms recognition.

Readsoft

Overview

ReadSoft, founded in 1991 by two university students in Linköping, Sweden, developed automated document processing solutions for financial operations. Lexmark acquired ReadSoft in 2014, and in 2017, Thoma Bravo combined ReadSoft with Kofax into a single company. Kofax rebranded to Tungsten Automation in 2024, integrating ReadSoft's invoice automation technology into the broader intelligent automation platform.

The solutions combine OCR, machine learning, and workflow automation to process invoices, purchase orders, and financial forms. ReadSoft's technology served organizations across financial services, manufacturing, healthcare, and public sector, with particular strength in accounts payable automation and ERP integration for SAP, Oracle, Microsoft Dynamics, and other enterprise systems.

Key Features

Invoice Processing: Specialized AP automation with header and line-item extraction
Intelligent Document Capture: Advanced recognition of diverse document types
Template-Free Learning: Machine learning adaptation to varying invoice formats
Forms Recognition: Automated processing of structured forms
ERP Integration: Pre-built connectors for SAP, Oracle, Microsoft Dynamics, Infor
Three-Way Matching: Automated validation against purchase orders and receipts
Workflow Automation: Configurable approval chains with delegation and escalation
Multi-Channel Capture: Processing from email, scan, EDI, supplier portals
Exception Handling: Efficient resolution workflows for discrepancies
Analytics & Reporting: Insights into AP processing performance

Use Cases

Accounts Payable Automation

Finance departments automate invoice processing by capturing documents from email, scan, EDI, and supplier portals. ReadSoft extracts vendor information, invoice numbers, line items, tax amounts, and payment terms without requiring templates for each vendor format. The system validates data against ERP master data and purchase orders, routing clean invoices through approval workflows while flagging discrepancies for review.

Purchase Order Processing

Organizations automate customer order handling by capturing orders from multiple channels and extracting customer details, product codes, quantities, pricing, and delivery requirements. Validation against customer master data and product catalogs identifies issues like discontinued items or pricing discrepancies, with ERP integration enabling automatic order creation.

Technical Specifications

Feature	Specification
Deployment Options	On-premises, cloud, hybrid
Document Types	Invoices, purchase orders, forms, remittances
Recognition Technology	OCR, ICR, machine learning, pattern recognition
ERP Integrations	SAP, Oracle, Microsoft Dynamics, Infor, others
Workflow Capabilities	Configurable approval chains, delegation, escalation
Validation Methods	Database lookups, mathematical checks, business rules
Processing Capacity	Enterprise-scale high-volume processing
Languages Supported	Multilingual document processing
Output Formats	Direct ERP posting, XML, CSV, PDF

Getting Started

Process Assessment: Evaluate current AP or document processing workflows
Solution Configuration: Set up document types and extraction rules
ERP Integration: Connect with financial systems
Workflow Design: Configure approval chains and business rules
Deployment: Launch with user training and support