SoftCo AP Automation

4.6 (20)
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About SoftCo AP Automation

SoftCoAP leads the market with 90% Touchless Processing of PO invoices, and 89% faster processing of non-PO invoices. SoftCoAP processes all PO and non-PO supplier invoices electronically from capture and matching to invoice approval and query management. Delivering unparalleled touchless automation, SoftCoAP incorporates unique Machine Learning and AI technology to minimize the number of supplier invoices requiring manual input. The result is 89% lower processing costs.
SoftCo challenges other vendors to prove their end-to-end automation ability by taking on a sample of customer invoices into their systems. Take the SoftCo’s Smart Matching Challenge and get an in-context demo of how we can help your organization.
SoftCo works with organizations who process 50k+ invoices p.a.


Key benefits of SoftCo AP Automation

Benefits of SoftCoAP include:
• 90% touchless invoice processing with Auto ML Matching.
• 89% Faster processing of non-PO invoices with Smart Coding, Smart Routing & AutoML.
• Seamless management of recurring invoices
• On-the-go mobile approval
• Single channel for all payments regardless of type
• Certified ERP integration
• Powerful reporting and analytics


Images

SoftCo AP Automation Software - SoftCo Customers
SoftCo AP Automation Software - Advanced Analytics
SoftCo AP Automation Software - Smart Matching
SoftCo AP Automation Software - Fully Automate Your Payment Processes Through One Single Workflow for All Payment Types
SoftCo AP Automation Software - Mobile Approval
SoftCo AP Automation Software - 6
SoftCo AP Automation Software - Smart Matching
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SoftCo AP Automation video
SoftCo AP Automation video
SoftCo AP Automation video
SoftCo AP Automation video
SoftCo AP Automation video
SoftCo AP Automation video
SoftCo AP Automation Software - SoftCo Customers
SoftCo AP Automation Software - Advanced Analytics
SoftCo AP Automation Software - Smart Matching
SoftCo AP Automation Software - Fully Automate Your Payment Processes Through One Single Workflow for All Payment Types
SoftCo AP Automation Software - Mobile Approval
SoftCo AP Automation Software - 6
SoftCo AP Automation Software - Smart Matching

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Reviews

Overall rating

4.6 /5
(20)
Value for Money
4.4/5
Features
4.3/5
Ease of Use
4.6/5
Customer Support
4.6/5

Already have SoftCo AP Automation?

Software buyers need your help! Product reviews help the rest of us make great decisions.

Showing 5 reviews of 20
Bill
Bill
Overall rating
  • Industry: Environmental Services
  • Company size: 201–500 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

SoftCo implementation team always delivers and the product (especially the new version) is...

Reviewed on 2017/10/23

Moved from paper based to online PO's with significant reduction in staff levels in purchase ledger...

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.

Pros

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.

Cons

Not cheap, we are a waste management business not a bank, but we have found it good value for money.

Carlin
Overall rating
  • Industry: Automotive
  • Company size: 1,001–5,000 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Hydro-Gear's Review of SoftCo

Reviewed on 2023/09/22

The AP team has settled into a routine and we have seen a significant drop in workload. It was...

The AP team has settled into a routine and we have seen a significant drop in workload. It was very difficult early on, but we are overall happy with the product now and are continuing to find ways to improve and develop metrics that work for us.

Pros

Access to information all in one placeThe matching function is accurate and immediately beneficialAbility to route easily for approvals, confirmations, etc...

Cons

ReadSoft/Capture - throughout implementation, we were very focused on the SoftCo product. When it came to understanding the ReadSoft portion, we were generally told to trust that the system would learn what to do. When we have issues with capture, it is difficult to get black and white answers from SoftCo and to understand exactly what can be done to improve the success. There aren't many views where the coding is viewable.BOL matching was not in place when we started implementation, which we were under the impression was standard. The intuitiveness could be improved for what business users need to do - i.e. folder views with the # in parentheses is unclear, the order of operations that need to be taken to go from details to coding, when there is a balance it isn't clear that users can't approve/move on because of that (the balance in RED is not very noticeable at the bottom of the screen).

Sue
Overall rating
  • Industry: Retail
  • Company size: 51–200 Employees
  • Used Monthly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Softco Review

Reviewed on 2023/09/27

Team was top notch. Sales and implementation.

Team was top notch. Sales and implementation.

Pros

It provides our AP team with a tool for better and faster processing of their invoices.

Cons

Couple glitches with integration with our ERP.

Jennifer
Overall rating
  • Industry: Architecture & Planning
  • Company size: 201–500 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Softco Review

Reviewed on 2023/09/15

Over my experience with Softco has been good. Service to tickets if prompt and we even had our...

Over my experience with Softco has been good. Service to tickets if prompt and we even had our sales rep do an impromptu training session with us just this week! Really felt like he went out of his way to assist us and answer some processing questions for us! We have also received positive feedback about this change for our users on how they review and approve invoices.

Pros

I have really liked the ability to approve invoices from the email. I am aware of most invoices that I will be receiving for approval, so it is super handy to be able to approve those ones through email.I also have really liked the search feature to be able to see where an invoice is at and who we are awaiting on for approval. So that we can prompt those users when necessary.

Cons

I think the smart coding is not working for us quite like we anticipated. The hope is that it will be magical and just do everything we need; but I think this will take a bit more time.

cheryl
Overall rating
  • Industry: Luxury Goods & Jewelry
  • Company size: 1,001–5,000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

AP Softco User advantage

Reviewed on 2023/09/27

We now have all of our ap invoices in one place with easy access to all of finance for audit...

We now have all of our ap invoices in one place with easy access to all of finance for audit purposes and looking up invoices to see if they are paid. We also have less payment of duplicate invoices..

Pros

I loved the AI. Other programs didn't really have it. It was all done in other countries with people manually. I loved the layout and the price was more reasonable and got a lot more than the competitors. I also love that it picks up on duplicate invoices.

Cons

We are not fully automated yet so sometimes it gets the wrong vendor or doesn't find the date or invoice number.

Showing 5 reviews of 20 Read all reviews

SoftCo AP Automation FAQs

Below are some frequently asked questions for SoftCo AP Automation.

SoftCo AP Automation offers the following pricing plans:

  • Pricing model: Subscription
  • Free Trial: Not Available

Please contact SoftCo directly to get detailed pricing. The tiered pricing model is based on annual invoice volume levels starting at 50,000 invoices per annum. Features offered are mobile application, customer support, anti-fraud technology, seamless ERP integration, realtime data insights, and capital management.

SoftCo AP Automation has the following typical customers:

51–200, 201–500, 501–1,000, 1,001–5,000

SoftCo AP Automation supports the following languages:

English

SoftCo AP Automation supports the following devices:

Android (Mobile), iPhone (Mobile), iPad (Mobile)

SoftCo AP Automation integrates with the following applications:

Clarity Wave, Dynamics 365, Dynamics 365 Business Central, Epic Construction ERP, Infor Cloud ERP, JD Edwards EnterpriseOne, NetSuite, SAP Business One, Sage Intacct

SoftCo AP Automation offers the following support options:

Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep), Chat

Related categories

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