SoftCo AP Automation
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SoftCo AP Automation
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4.3 out of 5 stars
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4.1 out of 5
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SoftCo AP Automation Reviews & Product Details - Page 3

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SoftCo AP Automation Overview

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What is SoftCo AP Automation?

SoftCo Accounts Payable Automation processes all PO and non-PO supplier invoices electronically from capture and matching to invoice approval and query management. SoftCoAP delivers unparalleled touchless automation by incorporating unique Machine Learning technology to minimize the number of supplier invoices that require manual intervention. The result is 89% processing savings. Benefits of SoftCoAP include: • Precise invoice data capture • 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 All invoices are captured using SoftCo’s Data Capture technology. The Smart Matching engine matches invoice data to your purchase orders and goods receipt notes and automates even the most complicated matching scenarios, such as incomplete data, missing product codes, rounding issues and FX conversions. The result is a 38% improvement in match rate versus standard matching engines. Smart Coding harnesses Machine Learning to analyze previously coded invoices and automatically apply the correct coding for new invoices, reducing the reliance on the AP team’s knowledge and delivering coding in seconds rather than minutes. Smart Routing technology determines the correct routing of invoices for approval, reducing the time taken to correctly route invoices by 89%. SoftCoAP assigns your non-PO invoices to an automatic general ledger and cost center through posting templates that are associated with your vendors. Recurring invoices, such as subscriptions, leasing, rent and utilities, are automatically matched to your underlying PO, and SoftCoAP routes them for appropriate approval, without the need for supporting POs or GRNs. SoftCoAP incorporates anti-fraud functionality that delivers real-world fraud prevention and monitoring. Dashboard reports deliver greater clarity and insight into real-time day-today performance through Financial and Operational KPI reports. SoftCo Advanced Analytics tracks key trends to provide management with key insights required to manage costs, performance, and effectiveness of operations. SoftCoPay transforms payments from a cost center to a profit center by optimizing payments, earning rebates, reducing costs and mitigating payment risk. SoftCoPay streamlines payments into a single easy to use workflow regardless of payment type (card, ACH, or check). SoftCo are AP-first & trusted by over 1 million global users including forward-thinking organizations such as Logitech, Primark, PwC, VW, Sunny D and the Finnish Government. SoftCo are SOC & ISO 27001 Certified. SoftCo integrates with 200+ ERPs and has a 100% project success rate.

SoftCo AP Automation Details
Discussions
SoftCo AP Automation Community
Languages Supported
English, Finnish, Swedish
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Product Description

SoftCo Accounts Payable Automation processes supplier invoices electronically from capture and matching, to invoice approval and query management.

Seller Details
Seller
Softco
Year Founded
1990
HQ Location
Leopardstown, IE
Twitter
@SoftCoGroup
2,359 Twitter followers
LinkedIn® Page
www.linkedin.com
132 employees on LinkedIn®
DB
Overview Provided by:
Daragh Byrne

Recent SoftCo AP Automation Reviews

GD
Gabriel D.Mid-Market (51-1000 emp.)
5.0 out of 5
"Flawless integration"
From the technical side, the integration was flawless from start to end. The entire process of Analyze and implementation we had support and return...
Read more
TM
Tom M.Mid-Market (51-1000 emp.)
4.5 out of 5
"Softco - excellent vendor and system"
Easy to use and intuitive system that has become critical in managing our supplier management and accounts payable processes. The system was compet...
Read more
AA
Alexandre A.Mid-Market (51-1000 emp.)
4.5 out of 5
"From sales team to implementation and support; pleasure of working with"
Honesty and transparency. And the product is solid. We had very minimal technical issues rolling this out and anytime there is a question or an iss...
Read more
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SoftCo AP Automation Media

SoftCo AP Automation Demo - Auto-Match
Auto-Match Summary
SoftCo AP Automation Demo - Contract Matching
Contract Matching
SoftCo AP Automation Demo - Invoice Approvals
Email or on-the-go approvals
SoftCo AP Automation Demo - Exception Handling
Exception handling
SoftCo AP Automation Demo - Customers
Selected SoftCo Customers
Answer a few questions to help the SoftCo AP Automation community
Have you used SoftCo AP Automation before?
Yes

30 SoftCo AP Automation Reviews

4.3 out of 5
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Overall Review Sentiment for SoftCo AP AutomationQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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KP
Finance Assisitant
Small-Business(50 or fewer emp.)
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Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about SoftCo AP Automation?

It is so straightforward to use and easy to understand. Does the god its required to do. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

When you get the odd bug. But every system picks them up so not directly a dislike. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

No more manual processing quicker way of processing help to save labour time Review collected by and hosted on G2.com.

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Rajasekhar I.
RI
Principal Solution Architect
Enterprise(> 1000 emp.)
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Validated Reviewer
Review source: Organic
What do you like best about SoftCo AP Automation?

SOFTCO AP Automation has an intelligent mapping engine that provides insight into AP invoice matching percentage confidence with Purchase orders. This is the most unique and conscientious feature that makes softco outstanding in the AP e-invoicing space. It has multi-language capabilities, especially the languages capability pertains to Asian countries are magnanimous. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

A little bit more insight into reconciliation would be an added advantage. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Often Straight through processing is a challenging task for AP invoice automation and SOFTCO makes it easier to achieve straight-through processing. Review collected by and hosted on G2.com.

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Response from Sophie Dodgson of SoftCo AP Automation
Editedit

Hi Rajasekhar,

Really appreciate this feedback. There are a number of reports including “Status Reports” and “Accruals Reports” which would solve this issue for you. If you contact Customer Support they will put you in touch with our Customer Success team who will be able to take you through this in more detail.

Hope this is helpful.

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AM
Accounts assistant
Small-Business(50 or fewer emp.)
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Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about SoftCo AP Automation?

I like knowing where to find invoices based on the filter options. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

It can be slow when there are lots of invoices to be processed. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Formating of invoice numbers - means less manual processing. Review collected by and hosted on G2.com.

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Response from Sophie Dodgson of SoftCo AP Automation
Editedit

Hi Amey,

Sophie from SoftCo here. Can I suggest that you raise a ticket with Customer Support, and they will be able to help you with this issue.

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AC
Global Finance Transformation Senior Manager
Enterprise(> 1000 emp.)
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Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about SoftCo AP Automation?

Automatch, Dashboards, User friendly, confidence in data reaching ERP Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

It's such a superior tool, no dislikes currently Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Helping us get our invoice data into ERP effectively and efficiently Review collected by and hosted on G2.com.

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Response from Sophie Dodgson of SoftCo AP Automation
Editedit

Aisling,

Thanks very much for this review. Love the title. We may take it as our future tagline!

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CB
Small-Business(50 or fewer emp.)
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Validated Reviewer
Verified Current User
Review source: Organic
(Original )Information
What do you like best about SoftCo AP Automation?

The solution has cutdown on processing time and led to increased efficiency in handling our AP function. Invoices are no longer lost in the mail or left on someone's desk. When the company had to transition to work from home during the pandemic, we were able to do so seamlessly. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

To operate the system as we have configured it requires some additional administrative work to be done. However, we feel the benefits we receive from our configuration outweigh any additional admin work. Review collected by and hosted on G2.com.

Recommendations to others considering SoftCo AP Automation:

If you are looking for an AP workflow solution I would recommend Softco AP. The features and customization have allowed our company to improve our AP process. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

The AP workflow has been transitioned from a strictly finance function to a collaboration across all departments and business partners. We have reduced processing time and misplaced invoices. We no longer have to store paper invoices or scan invoices for compliance requirements. The solution is integrated with our ERP system allowing us to view invoices images right through our ERP. Review collected by and hosted on G2.com.

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Verified User in Accounting
IA
Enterprise(> 1000 emp.)
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Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about SoftCo AP Automation?

Performance is excellent. User interface is very intuative. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

Integrations could be improved. Not very flexible in terms of connectivity. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

The reliance on paper invoices and email chains for approval was a major issue for us. SoftCo eliminated this and as an added bonus facilitated remote working. Review collected by and hosted on G2.com.

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Mark D.
MD
Head of finance
Enterprise(> 1000 emp.)
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Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about SoftCo AP Automation?

Easy and quick install , minimal requirement for internal IT resources Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

Can be difficult to add in additional data / features Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Streamling the invoice approval process, reducing manual workload and freeing up staff for more value added actvities Review collected by and hosted on G2.com.

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Helpful?
Share
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Verified User in Electrical/Electronic Manufacturing
AE
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about SoftCo AP Automation?

I like the ability to have all our invoices in one place and searchable. The ability to track invoices from vendor to payment. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

The approval routing set-up and the invoices to receipt function. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Invoice trackability is the biggest benefit we have gotten from this system. Review collected by and hosted on G2.com.

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Response from Sophie Dodgson of SoftCo AP Automation
Editedit

Hi,

Sophie from SoftCo here. Thanks very much for your comment. You mentioned the Approval Routing set up. There are several new features which would be of benefit to you. If you contact our Support Team and ask for a meeting with your Customer Success Manager, they can talk you through the different features.

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Verified User in Renewables & Environment
UR
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about SoftCo AP Automation?

Easy to record invoices and search for them.

Provides in-depth information for reqs and POs to be able to effectively process invoices (approver flows, dates, exceeding limits, etc.). Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

Lack of alerts for changes from other users - would be helpful to know when there is an update so as to react promptly. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Improved communication and information flow from PO users to the AP team and vice versa (in an automated and easily referable to way. Review collected by and hosted on G2.com.

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Verified User in Financial Services
EF
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about SoftCo AP Automation?

User interface makes it very easy for non-financial staff use. The approval mechanism is simple and intuitive. Support team are quick and responsive. Review collected by and hosted on G2.com.

What do you dislike about SoftCo AP Automation?

Some of the management reports require further customisation. Review collected by and hosted on G2.com.

What problems is SoftCo AP Automation solving and how is that benefiting you?

Facilitates remote working since invoices can be received and processed with minimal human intervention. Enables real time monitoring of spend and increased control over what is being ordered. Reduction in key person reliance. Review collected by and hosted on G2.com.

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SoftCo AP Automation Categories on G2
AP Automation
AP Automation

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