ReadSoft's specialties included accounts payable automation, accounts receivable automation, sales order processing, and digital mailrooms. ReadSoft has been regarded as an "AP invoice specialist" – AP is a common abbreviation of
Accounts Payable – by
Gartner, an independent information technology research and advisory company. Specialist software is designed to integrate with the AP software from ERP systems, such as
Oracle and
SAP. For example, ERP integration may take advantage of single-sign-on processes, eliminating the need for employees to juggle multiple logons and systems. With more than 12,000 customers, ReadSoft maintained other than
SAP also Oracle competency/development centers which provided integrated solutions for companies with SAP and Oracle systems. Market analyst firm Harvey Spencer Associates reports ReadSoft with a 13% market share. In May 2014, US Company
Lexmark International, Inc announced a bid to buy out all remaining shares in ReadSoft. The deal was completed in late 2014, and ReadSoft then operated as part of Lexmark's Enterprise Software (formerly Perceptive Software) division. In July 2017, Thoma Bravo acquired Lexmark's Enterprise Software business which consisted of three entities: Kofax, ReadSoft, and Perceptive Software. Following this, Kofax and ReadSoft were combined into a single, newly independent Thoma Bravo portfolio company named Kofax. ==References==