Superior matching engine powered by AI, delivering 90% touchless invoice processing and 89% cost savings.

SoftCo Accounts Payable Automation processes all PO and non-PO invoices electronically from capture and matching to invoice approval and query management. SoftCoAP delivers unparalleled touchless automation by incorporating AI technology to minimize the number of supplier invoices that require manual intervention. The result is 89 percent processing savings. With 34 years’ experience, SoftCo ranks highest in independent customer satisfaction surveys. Operating from the US, Finland, the UK and Ireland, SoftCo has over a million users worldwide including Cambridge University, PwC, Snap-on, Volkswagen, Primark, Logitech, Sunny Delight and the Finnish Government. SoftCo are SOC 1 & 2, ISO27001 and SAHKE2 certified.

Benefits of SoftCoAP for Dynamics Finance & Operations include:

• Precise invoice data capture
• 90 percent straight through processing powered by AI.
• 89 percent faster processing of non-PO invoices with AI-powered Smart Coding & Smart Routing.
• SoftCo Copilot, your AI-assistant, ensuing the fastest query management and approvals.
• Seamless management of recurring invoices
• On-the-go mobile approval
• Single workflow for all payments regardless of the type
• Certified ERP integration
• Powerful reporting and analytics

"We now auto-match the vast majority of the 70,000 invoices we process every year. Integration with our ERP was seamless.“ - JJ Foods

All invoice data is captured using SoftCo’s Smart Data Capture technology. SoftCoAP supports the reception of E-invoices that are transmitted via networks (VAN and Peppol Access Point), ensuring secure and standardized delivery of electronic invoicing data.The AI-powered 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 percent improvement in match rate versus standard matching engines.

89 percent faster non-PO prcessing

Smart Coding harnesses AI & 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 percent.

Seamless management of recurring invoices

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.

Powerful reporting and analytics

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.

Contact SoftCo today to find out more.

https://www.wetransact.io/