FOR IMMEDIATE RELEASE

Altec Selects ReadSoft as IDR Partner to Enhance its doc-link™ IDM Solution
Partnership Brings Affordable Intelligent Document Recognition Technology to Altec’s SMB Marketplace

Laguna Hills, CA – November 17, 2009 – Altec Products, Inc., a leading provider of integrated document management (IDM) and workflow solutions to small and medium-sized businesses, announces that it has signed a worldwide distribution agreement with ReadSoft to market, implement and support ReadSoft’s accounts payable automation solutions through its vast network of resellers.

The addition of ReadSoft’s intelligent document recognition (IDR) solution to Altec’s flagship product, doc-link, allows companies to gain approximately a 25% incremental increase in productivity in processing accounts payable transactions through intelligent image and data capture on top of the 25 – 40% increase offered by the doc-link standalone solution. The IDR component will be available as an option to the various doc-link bundles, giving SMBs access to technology once only afforded by larger enterprises.

The Altec and ReadSoft partnership is truly a win-win situation, giving both companies the ability to expand their businesses through increased functionality and greater market reach respectively.

“As we continue to penetrate the SMB market and receive feedback from our user community, our product marketing team has identified the need to expand the benefits of our solution by offering OCR and IDR technology,” said Mark Tague, Chief Technology Officer of Altec. “When selecting an OCR/IDR partner, we wanted to find an organization that was a market leader with a global reach to complement our sales and marketing model, and ReadSoft fit that bill for us.”

“ReadSoft has traditionally operated in the large enterprise marketplace, and our vision for growth includes expansion into the other markets,” said Bob Fresneda, President of ReadSoft North America. “Altec is well entrenched in the SMB space; its strategic alliances with Epicor, Sage, Dynamics and SAP make them a strong partner to help us bring IDR to customers in the SMB marketplace that have been demanding this type of solution for quite some time.”

About Altec
Based in Laguna Hills, Calif., and originally formed in 1985, Altec is a leading provider of Integrated Document Management solutions to mid-market companies. The company offers a wide range of accounting-centric paper to paperless solutions including its flagship product, doc-link™, which enables companies to capture, archive, workflow and route structured and unstructured documents to customers, employees and vendors. Altec’s comprehensive solutions include IDM, output management, MICR check disbursement and paper documents that serve more than 13,000 customers in North America. Altec works jointly with premier accounting and business management solution providers such as Epicor Software, Microsoft Dynamics, Sage Software and SAP to provide the most comprehensive, integrated enterprise document management solutions to its customers. For more information, visit Altec at www.altec-inc.com, or call 1-800-997-9921.

About ReadSoft
ReadSoft is the global leader in the development and sales of a complete product platform for Document Process Automation. With thousands of customers on a global basis, ReadSoft supports customers and partners in North America with offices in 7 locations, including the corporate headquarters in New Orleans, LA.

Established in 1991, ReadSoft was first to bring free form technology for invoice processing to market and first to achieve certifications to enterprise resource planning systems such as SAP and Oracle. ReadSoft has become the global technology leader, with operations in 16 countries and partners in an additional 70. We are proud to have the largest and most innovative development department in the industry, with professional services to assist customers and partners on a global basis. ReadSoft's vision is to free businesses everywhere from manual document handling. For more information please visit: www.readsoft.com.

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