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SoftCo

SoftCo is a leading provider of financial process automation 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’s solutions combine a range of financial processes, including procurement, invoice automation, vendor management, document archiving, and analytics into a single platform, delivering a complete view of all financial data via one interface. It also integrates with existing ERP systems and finance systems at a single point, which provides one view of the world in real-time for accurate reporting and decision-making.

SoftCo has over 1.5 million users in North America and Europe including Patagonia, SunnyD, PWC, The Finnish Government, BNY Mellon, Volkswagen, and Primark.

www.softco.com

Products & Services

  • SoftCo ExpressAP: SoftCo ExpressAP is a smart, powerful cloud-based Accounts Payable Automation solution that reduces the cost of processing vendor invoices by 80%. SoftCo ExpressAP automates vendor invoice processing including capture, registration, coding, approval, query, reporting, and ERP payment. Processing is 100% touchless supporting remote working, on-the-go email approval, and an easy-to-use Vendor Portal. With SoftCo ExpressAP, you are LIVE in hours with unlimited users. There are no capital costs, no upfront costs, just a simple monthly fee.
  • Accounts Payable Automation: SoftCo Accounts Payable Automation processes 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 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.
  • Procure-to-Pay Automation: Automate the finance process from procurement to invoice automation and payment posting to your organization's financial or ERP system. Elimination of manual and duplicate processes provides visibility and control over corporate spend and accruals for month-end close. Cost savings of up to 80% are achieved through the reduction in invoice processing times combined with automated matching and exception handling.
  • Vendor Management: SoftCo Vendor Management delivers the benefits of working efficiently with preferred vendors. Purchasing is optimized, costs reduced, and administration eliminated. The solution enhances relations with your key vendors with full online visibility of all orders and invoices and ensures queries and disputes are addressed immediately.
  • SoftCo Contract Management: SoftCo Contract Management is tightly integrated with all SoftCo Procure-to-Pay modules and manages the request, purchase and control of contract-based spend within the eProcurement module and facilitates contract and invoice matching within the Accounts Payable module. The solution presents comprehensive reports on exceptions, status, renewals and any overcharges.
  • Compliant Archive: SoftCo Compliant Archive provides document capture, secure storage, fast retrieval and full lifecycle management, automating a wide range of processes throughout your organization. The solution is SÄHKE2 certified and incorporates Content Addressable Storage (CAS) and Digital Fingerprint technology ensuring all content meets regulatory compliance obligations such as GDPR and AML.
  • Analytics: SoftCo delivers real-time analytics which includes detailed tailored reports and KPIs. With dynamic dashboards, reporting capabilities are significantly improved; users have the ability to control data visibility in order to easily manage KPIs for data-driven decision making. Users can compile reports quickly and easily without having to create individualized dashboards from scratch.

Industries Served

  • SoftCo serves all industries

Clients Include

  • Patagonia
  • SunnyD
  • Advanced Drainage Systems
  • BNY Mellon
  • PWC
  • The Finnish Government
  • Alexander Wang
  • Cantor Fitzgerald
  • Primark
  • Cambria
  • Lloyds Bank
  • GE Aviation

Client Testimonials

“SoftCo has fulfilled everything that we were looking for, and more! Our query resolution times have reduced by 75%, which means that our AP staff can spend less time on reconciliation and more time on value-adding activities.”

- Brian Conneely, Finance Director, Grafton Ireland

“We are delighted to be working with SoftCo to automate our Accounts Payable process. Over the past few months it is very clear that remote working has meant a change to how we all operate. The process has been seamless to date and the onboarding has been quicker than we expected.”

- Mark Dinkin, Smyths Toys

“I really couldn’t imagine a more effective way of handling our AP than with SoftCo.”

- Aisling Connolly, Logitech

“SoftCo has transformed the authorization time from 3 or 4 weeks down to 3 or 4 days.” 

- Sharon Bessell, Distribution Financial Controller, Argos
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