SoftCo is a leading provider of AP, P2P and AR solutions that increase productivity, reduce costs, and ensure organizations meet their compliance obligations. SoftCo is a global organization with offices in the USA, Ireland, the UK, and the Nordics.
SoftCo has over 2 million business users worldwide across all industry sectors. Our approach is to understand our customers’ businesses, the challenges they face, and deliver solutions to meet and go beyond their expectations. Customers include The Finnish Government, PwC, Primark, SunnyD AND Crown Agents Bank to name a few.
SoftCo serves enterprise organizations who process over 20,000+ invoices per annum. SoftCo processes supplier invoices electronically from capture and matching, to invoice approval and query management. SoftCo replaces manual, paper-based processes and spreadsheets, and removes time-consuming and costly tasks.
Key features include:
– Invoice data capture
– Automated scanning and data extraction
– Automated contract matching
– Automated 2-way and 3-way matching
– Advanced AI Smart Matching
– Exception handling
– Automated approval workflows
– On-the-go approval
– Non-PO invoice approval
– Full ERP integration
– Advanced analytics
50 to Know / 50 to Watch / Future 5
SoftCo Accounts Payable Automation processes supplier invoices electronically from capture and matching, to invoice approval and query management. The solution manages all PO and non-PO vendor invoices. All invoice data is captured using SoftCo’s Optical Character Recognition (OCR) technology or via SoftCo’s outsource data capture service.
The dynamic matching engine handles both 2-way and 3-way matching to match your invoice data to your purchase orders and goods receipt notes. SoftCo Accounts Payable Automation assigns your non-PO invoices to an automatic general ledger and cost center through posting templates that are associated with your vendors. For your recurring invoices, such as subscriptions, leasing, rent and utilities, the solution automatically matches them to your underlying contract PO, and routes them for appropriate approval, without the need for supporting POs or GRNs.
SoftCo’s automated approval workflows ensure that your invoices are routed to the relevant approvers. Approval notifications and reminders ensure that your notifications are actioned efficiently. The process of approving your invoices is accelerated via signoff by e-mail or the mobile app.
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