SoftCo: Automate Invoice Processing & Payment Processes with Ease

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SoftCo: Automate Invoice Processing & Payment Processes with Ease

Anton Scott, CEO, SoftCoAnton Scott, CEO
As the pressures on finance departments continue to grow with increasing business demands to reduce costs, increase efficiency and meet more stringent compliance obligations ever, there is a greater focus to streamline back-office processes using financial automation solutions. To address such business demands, finance professionals need simplicity, flexibility, and control. However, feedback from finance leaders consistently points to frustrations and dissatisfaction with existing finance systems, which hinder their ability to improve processes and reduce costs.

SoftCo offers an innovative alternative to cumbersome business systems. What makes its solution different is its capability to automate a range of financial processes on a single platform. SoftCo’s solution SoftCo10 is highly flexible, allowing complete solutions to be easily configured and delivered in a single fully integrated system with a consumer-type user experience. Further, SoftCo provides robust, innovative financial process automation solutions that increase productivity, reduce costs, and ensure organizations meet compliance obligations. SoftCo’s novel technology automates Procure-to-Pay, Accounts Payable, Vendor Management, eBilling and Contract Management processes.

Additionally, SoftCo ExpressAP is a newly launched cloud-based AP automation solution for businesses of any size. There are no set-up costs, customers can be live in a matter of hours, and there is no limit on the number of users. Vendor invoices are captured, registered, auto-indexed, coded and routed via automated approval workflows to relevant approvers. Invoices are approved by e-mail or via the web app.

Rejected or queried invoices are rerouted via dedicated workflows for exception handling. Notifications and reminders inform users of required actions, and signed off invoices are sent for payment. SoftCo ExpressAP delivers intuitive reports on multiple performance metrics. The vendor portal provides complete visibility on orders, invoice status, queries and discrepancies. Additionally, all information is stored in the SoftCo Compliant Archive.

Apart from that, SoftCo Accounts Payable Automation processes its client’s vendor 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 the invoice data to the client’s purchase orders and receipt notes. Finally, SoftCo’s automated approval workflows ensure that the invoices are routed to the relevant approvers via notifications and reminders. The process of approving invoices is accelerated via signoff by e-mail or the mobile app.

What’s more? SoftCo uniquely maintains full ownership over every project, from inception to deployment, ensuring the solutions meet its client’s needs. SoftCo’s proven solutions are based on over 30 years’ specialized knowledge in automating financial processes utilizing industry best practices. Their projects succeed because of this wealth of expertise, combined with the flexibility and configurability of our software, which integrates seamlessly with any ERP system.

Today, SoftCo are a global organization with 1.5 million business users worldwide across all industry sectors. The company builds its innovative technology with Procure-to-Pay domain knowledge delivering fast, straight through and touchless processing. No matter what the problems are, SoftCo understands its customers’ businesses, the challenges they face and offers solutions to meet and go beyond their expectations.

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Top 10 Accounts Payable And Receivable Solution Companies In Europe - 2021
SoftCo

Company
SoftCo

Headquarters
Leopardstown, Dublin

Management
Anton Scott, CEO

Description
SoftCo delivers Smart Automation solutions that automate Procurement, Invoice Processing, and Payment Processes. SoftCo seamlessly integrates with existing ERP or finance systems to offer real-time analytics. The software reduces the time and costs associated with manual tasks, reduces invoice and PO creation and approval times, and enables complete visibility over the entire procure-to-pay process. SoftCo has over 1 million users North America and Europe including PWC, The Finnish Government, Lloyds Bank, Volkswagen, and Primark