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Logitech
logitech

100,000+
Annual Invoices

83%
Touchless Processing

100%
Control and Visibility

“80% of our invoices are receiving a 100% Confidence Match. This is a really, really big deal from an Accounts Payable Perspective”

Aisling Connolly, Global Finance Transformation, Logitech

Challenge

Logitech struggled with multiple manual touchpoints which led to subjective decision-making when matching invoices to purchase orders. Despite having an existing automation solution in place, Logitech were experiencing significant delays, inefficiencies and a complete lack of visibility due to poor integration with their Oracle ERP system. This resulted in operational inefficiencies (referred to by Logitech as “black holes”) where the status of invoices was unclear.

Solution

SoftCoAP was chosen by Logitech to address all of their challenges. The key differentiators were the ability to extract information from invoices and compare it against Purchase Order and Goods Receipt Notice data, automating the matching process and automatic capture of multiple languages across invoices from Europe, North America and Asia. This automation allows for real-time visibility, 83% Straight-Through Processing and visibility into each stage of the processing journey, even before reaching the ERP system.

Results

The implementation of SoftCo’s solution led to several key benefits:

  • Removal of “black holes”: The SoftCoAP platform automatically matches and routes Logitech’s invoices, allowing for full visibility of invoice status and processing.
  • 83% Straight Through Processing: 85% of Logitech’s invoices are Purchase Order-based, and 83% of these invoices now achieve a 100% Straight-Through Processing rate.
  • No Increased Headcount: Automating repetitive tasks liberates the AP Team, leading to improved morale and the ability to comfortably handle increased workloads, without increasing headcount.
  • 100% Control and Visibility: Post implementation, SoftCoAP now provides full visibility into the invoice processing stages, addressing the issue of “black holes.”
  • Full Audit and Control: The SoftCoAP robust process and transparency now aligns seamlessly with audit requirements and Logitech’s internal controls.

Information

Industry:Technology Manufacturing
Solution:Accounts Payable Automation
Regions:Worldwide
Employees:8,000+
Invoices:100,000 per annum
ERP System:Oracle

Founded by in 1981, Logitech is one of the largest manufacturers of computer peripherals and software in the world. Headquartered in Switzerland, Logitech operate globally, with offices in Europe, the Americas, Asia and Oceania.

“The SoftCoAP solution is acting like an intelligent resource, and it’s saving the Accounts Payable team so much time.”

Aisling Connolly, Global Finance Transformation

Hear what our customers say

SoftCo has created a frictionless process, saving considerable time and effort.
Rather than just technically describe an issue, SoftCo knew the functional problems we had
We chose SoftCo to address our P2P requirements because of their proven expertise.
SoftCo has fulfilled everything that we were looking for, and more.
SoftCo allows us to bring a more compelling proposition to our clients.
SoftCo enabled us to quickly gain control over our AP process after switching to remote working,
With SoftCo we have a system capable of fully managing our document lifecycles.
We have implemented a project that has progressed as planned and within the planned budget.
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SoftCo Procure-to-Pay has delivered a ROI within one year, helping in our global expansion.
With SoftCo, we’ve increased reimbursements and reduced costs. That’s good for our bottom line.
Because staff act faster, we can pay suppliers faster and have better relationships with them.
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SoftCoAP has delivered us direct savings, giving a lot more confidence in our year-end.
SoftCoP2P has allowed us to reduce invoice processing times by 70%, reducing costs and time.
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Our goal is to reach 90% automation with the procurement and invoice handling.
We chose SoftCo because of their expertise in procure-to-pay and their prior experience.
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The SoftCo AP system has been faultless, reducing our invoice query times by 75%.
“Invoices now are going through at 80% touchless processing. Prior to SoftCo, it was between 5-10% maximum”