SoftCo AP Automation
4 Reviews 5/5 ★ ★ ★ ★ ★An accounts payable automation software offering invoice management and approval for mid to large-sized companies.
Product Overview
SoftCo Accounts Payable Automation is designed to process PO and non-PO supplier invoices electronically, from invoice capture and matching through to approval, query management, and payment. SoftCoAP streamlines accounts payable operations using embedded AI to reduce manual effort, accelerate cycle times, and strengthen control and compliance.
SoftCoAP incorporates AI and adaptive learning to minimize the number of invoices requiring manual intervention. A context-aware AI Assistant supports AP teams directly in the workflow by explaining exceptions, answering questions, and guiding next actions, enabling faster and more confident decision-making.
Pros
- AI-enhanced features for invoice processing
- Integrates with 200+ ERP systems
- SOC & ISO 27001 certified
Cons
- Limited report customization
- Occasional inaccuracies in automated vendor selection
Target Market
Mid to large-sized companies with 200+ employees and an annual revenue of over $50 million.SoftCo AP Automation manages the accounts payable process, streamlining tasks from electronic invoice capture and matching to approval and query handling. SoftCoAP incorporates AI and adaptive learning technologies to minimize the number of supplier invoices that require manual intervention.
SoftCo Key Features
- Supplier Management: Maintain visibility and communication across supplier interactions and invoice queries.
- AI-Powered Invoice Capture: Capture and process invoices from any source or format with high accuracy.
- AI Matching: Automatically match invoices against POs, goods receipt data, and reference information, including complex scenarios.
- Touchless Invoice Processing: Achieve up to 90% straight-through processing for PO invoices with AI-driven automation.
- Invoice Approval Workflow: AI Routing flags exceptions, applies coding, and routes invoices to the correct approvers.
- ERP Integration: Seamlessly integrate with over 200 ERP systems to hand off approved invoices for payment.
- Spend Analytics: Gain real-time visibility into spend, accruals, budgets, and performance through advanced analytics.
- Surcharge Handling: Automatically identify and process surcharges to ensure transparency and accurate cost tracking.
- SoftCoPay: Centralize vendor payments, enable virtual card payments, and earn monthly rebates while reducing payment risk.
- Security & Compliance: SOC and ISO 27001 certified to support secure, auditable AP operations.
Pricing Details
Pricing is based on your annual invoice volume. You will need to contact SoftCo directly for detailed pricing information.
Benefits
- Precise Invoice Data Capture: Eliminate manual data entry and accelerate invoice processing.
- Faster Exception and Query Resolution: Manage all exceptions and queries in one central place, guided by an AI assistant.
- High-accuracy Invoice Matching: Improve match rates and reduce manual rework across PO and non-PO invoices.
- Automated Invoice Approvals: Reduce approval cycle times with AI-driven workflows.
- Mobile and Email Approvals: Approve invoices on the go with minimal friction.
- Simple ERP Integration: Seamlessly integrate with any ERP system for financial handoff and reconciliation.
- Real-time reporting/AI Analytics: Monitor AP performance, costs, and bottlenecks with live KPI reporting.
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User Reviews of SoftCo AP Automation
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SoftCo AP Automation Review
Rather than just technically describe an issue, SoftCo knew what functional problems we had, and their business comprehension was impressive. That really made SoftCo stand out.
SoftCo AP Automation Review
SoftCo’s solution has delivered real benefits and savings. We have completely removed all manual invoice processing tasks which has significantly reduced invoice lifecycles.
They were able to identify our issues straight away
We chose SoftCo because of their proven experience in this area. They were able to identify our issues straight away and offer a quick and cost-effective solution. They implemented the system in a matter of hours and provided an onboarding service that allowed our staff to get up and running on the system in minimal time.
SoftCo AP Automation Review
SoftCo has fulfilled everything that we were looking for, and more. Our query resolution times have reduced by 75%, meaning our AP staff spend less time on reconciliation and more time on value-adding activities.
