SoftCo’s AP Automation solution enables organizations to process vendor invoices electronically, from capture and matching, through to invoice approval, and query management. Finance teams can track the status of accruals, handle exception, as well as generate real-time reporting and analytics. Users can securely store financial documents, keep an audit history, and stay compliant with business and regulatory requirements.
SoftCo AP electronically captures invoices from mobile or desktops, and in various formats including paper, email, PDF, XML, and EDI. The scanning system utilizes ICR (intelligent character recognition) to read line data, improving processing times and eliminating possible human errors. 2- or 3-way matching automation reduces the workload for financial teams, and helps flag exceptions and duplicate invoices to ensure that repeated payment does not occur.
The solution provides users with an automated approval workflow that follows a configured approval matrix and hierarchy for routing POs and invoices, enforcing company spend policies. A dual approval requirement for ordering goods and services can be configured for a segregation of duties. The solution offers integration with all major finance systems, ERP platforms, and databases via the SoftCo Connect adapter for increased processing speed, accuracy and visibility.
SoftCo AP provides comprehensive dashboard reporting of crucial business KPIs, such as invoice receipt to payment time; compliance to spend policies; productivity per FTE; invoice exception rate, and processing cost per invoice. Vendor management functionalities in the portal enable procurement teams to maintain a strong vendor base and improve relationships. Alerts and notifications inform users of any missing data, or if a time-sensitive document needs to be reviewed.
Year 1 return on investment. Easy to use for staff at all levels, reduced processing times as well as full visibility over all invoices on the system.
There were of course some teething issues but SoftCo were always on hand to address these straight off and ensure the implementation went smoothly.
The number 1 thing I like is that the software is easy to use for all levels in our organisation. This ensured that the buy-in from our staff was gained straight away and they could see that it made their jobs easier. The results have been great too. We have achieved a straight-through processing match rate of 75% of all invoices and increased the capacity of our AP team by more than 50%. By automating our AP process, we have reduced our labour costs despite handling an increasing volume of invoices (over 300,000 per annum). We also now have complete visibility over all our invoices in the system which helps greatly at month end.
We automated what is traditionally a heavily paper based and manual process through the implementation of user friendly software. All actions are now taken electronically and there is no paper in sight.
We improved the process with the introduction of a pre-approval step so costs are more easily controlled and budget holder awareness is guaranteed before any commitment to spend.
Our AP team now spend more time managing supplier accounts through the review of statements and significantly less time manually processing invoices.
The software is highly configurable which enables you to self administrate and customise to meet your business requirements as they evolve. The system is very easy to navigate from a user perspective so the training and implementation process can be supported with basic demos and QRGs.
As a system administrator the softwares configurability encourages core users to suggest change requests quite often. Not a fault of the system but a challenge for the administrators.
Moved from paper based to online PO's with significant reduction in staff levels in purchase ledger and almost 100% compliance with payment terms. Much better control of release of payment runs.
The product is very easy to use with new in-email approval a huge step forward.
Visibility of spend and tracking versus budget is a great feature.
GRNI accrual for the finance team is easy.
Easy to raise POs, so no excuses.
Easy to change routing of approval if a PO has a particular need for customised approval.
We use verify (as an option in addition to approve) to ensure that costs coded to particular account codes are reviewed as appropriate to that code before the PO is approved, e.g., Capex.
Not cheap, we are a waste management business not a bank, but we have found it good value for money.
System driven approvals, audit trail = major control positives.
Seamless interface with Accounting system (SAP).
Ease of use for volume users.
Prompt helpdesk resolution.
Standardisation of approvals / payment processes across large , multi divisional organisations.
Bespoke / Automated Reporting Capabilities need to be improved / made more user driven.
Dosent always give Senior Management the KPI / Dashboard information that proves how powerful the product is.
Current version is restrictive in some regards - screen resolution / cursor missing issues, which while not major, cause irritation to users and thus damage the products image.
Paperless filing at its very best; everything you would expect is delivered.
Softco excels in a multi company environment. It is simple to find historical information irregardless of how many companies are on the system. Love the integration with our accounting software.
Can't open on two screens at the same time. Display boxes for account codes could / should be larger.
Contact SoftCo for detailed pricing information.
Voici quelques-unes des questions fréquentes sur AP Automation.
Types de licences disponibles pour AP Automation :
Type de licence: Abonnement
version d'essai gratuite: Non disponible
Contact SoftCo for detailed pricing information.
Fonctionnalités du logiciel AP Automation :
Utilisateurs habituels du logiciel AP Automation :
Grandes entreprises, Entreprises de taille moyenne, PME
Langues dans lesquelles AP Automation est disponible :
Types de licences disponibles pour AP Automation:
Nous n'avons pas d'informations sur les appareils pris en charge par AP Automation.
Applications s'intégrant à AP Automation :
Oracle Fusion Financial Management, Oracle JD Edwards EnterpriseOne, SAP Financials OnDemand
Ressources d'aide disponibles pour AP Automation :
Support en ligne, Support téléphonique