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Purchase to Pay

End to end process optimisation starting from the time an invoice is received, through to the payment process, including document archiving is possible as either as an "out of the box" solution or as a customised solution based on specific business requirements.

SoftCo’s Purchase to Pay solutions have a strong record of accomplishments in AP/Procurement departments and assists organisations of all sizes and industries to build a comprehensive solution that serves as a platform for increasing operational efficiency and accountability.

The AP Challenge

All companies today face similar challenges in their Accounts Payable processes. Capturing invoices, checking for accuracy, attributing the cost to the right business area and paying the debts on time are the cornerstones of an effective Accounts Payable function - - one that supports the business and helps maintains good supplier relationships.

Accounts Payable may be fraught with frustrating delays and errors. In these cases - - where invoices are slowly and inefficiently routed around the enterprise for coding, posting, approval and payment - - paper is often lost, manual data entry creates mistakes and suppliers rightly become disgruntled. The enterprise may also be losing out on the opportunity for early settlement discounts, and for management, getting a true picture of the company's total debt is almost impossible.

At SoftCo, we have developed the SoftCo AP™ suite to help address the most pressing issues enterprises face in their Accounts Payable function.

Key Features and Benefits
Key Features and benefits of SoftCo's Accounts Payable solution include:

• Electronically capture supplier invoices as soon as they enter your organisation, including Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR) capabilities
• Automatically distributing invoices to appropriate clerks and balancing workloads
• Invoice matching and exception routing for documents that do not match
• Increasing early payment discounts and eliminating late payment penalties with automated processing
• Reducing manual errors with efficient data entry through numerous strategies for automating indexing
• Ensuring complete information and accuracy with cross-referencing capabilities to legacy applications
• Direct access to the relevant image of the invoice from within your ERP environment
• Accelerating discrepancy resolution and response times to supplier inquiries
• Ensuring procedures and approvals are followed with automatic rules-based routing and processing for corporate and governmental compliance
• Real-time key performance indicators (KPIs) monitoring the Accounts Payable process are provided

Electronic Requisitions

Procurement and expense management have become increasingly important sources of cost savings for companies in every sector. R8 provides a solution that can be rapidly deployed and allows organisations to control the items that can be purchased, their costs and the approval process for purchase order creation.

Through the use of easily configurable templates and approval routing, organisations or departments within an organisation can implement a procurement solution and used with SoftCo Accounts Payable, can automate the entire Procure to Pay process.

Key Features and Benefits
Key Features and benefits of the SoftCo Requisition tracking solution include:

• Simplified requisitioning through the use of customisable templates
• Integrated Roles and Permissions management
• Validation of data though the use of look ups
• Integration with existing Applications, ensuring data consistency
• Efficient Supplier management with the ability to add and maintain suppliers centrally
• Easy to maintain catalogs, pricing information and currencies
• Business rules automation for validation and approval
• Identify and resolve process inefficiencies
• Invoice Matching with PO and delivery dockets
• Cost Centre allocations, budget monitoring and spend visibility

For more information, contact us now.