Transform AP with AI-powered automation.

  • Eliminate Inefficiencies: Process 90% of invoices touchfree.
  • Combat Invoice Fraud: Mitigate risks with AI-powered duplicate detection.
  • Accelerate Month-End: Switch from weeks to days.
  • Boost ROI and Team Morale: Automate repetitive tasks while cutting costs.
  • Empower Decision-Makers: Take control of your AP process.
  • Centralise Finance Data: Plug in to over 200+ ERP’s.

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Trusted by over 1 million business users globally

accounts payable

“We are now automatically matching 80% of all of our supplier invoices.
This means they go straight through the process, touchless
without any manual intervention.

Brian Conneely, Finance Director, Grafton Ireland

Transform Accounts Payable with one Unified Solution

SoftCo is a global organization with 1 million business users worldwide across all industry sectors. We build smart technology delivering fast, straight through and touchless invoice processing that includes 3-way invoice matching. Our ethos is to understand our customers’ businesses, the challenges they face, and deliver solutions to meet and go beyond their expectations. Our Accounts Payable solutions are built on a common platform, SoftCoAI+, ensuring that as our customers expand they can seamlessly grow on the SoftCo ecosystem.

100% Visibility
& Control

Seamless ERP
integration

Realtime
Data insights

Achieve Compliance
Obligations

89% Cost
Reduction

Mitigate
Fraud

Working Capital
Management

Monthly Payment Rebates

accounts payable

By delivering 90% straight through
processing, SoftCo’s customers experience
the highest return on investment.

What is Straight Through or Touchless Processing and how does it benefit organizations?

Straight Through Processing (STP), or Touchless Invoice Processing, is when an invoice is automatically captured and approved ready for payment requiring no manual intervention. The level of Straight Through Processing and the cost of processing a supplier invoice are intrinsically linked. Such ‘touchless’ processing has a significant cost benefit while also removing any risk of human error and fraud.

In a purely manual environment the cost of processing an invoice is $15.97 according to the Institute of Finance & Management (IOFM). With low automation solutions, such as OCR in isolation, there remains manual tasks that need to be completed to move the invoice through the process. Even in this low automation environment there are benefits compared to a pure manual paper-based approach. The average cost to process an invoice in a low automation environment is $8.78 according to the IOFM.

Exponential benefits accrue with High Automation. SoftCoAP incorporates AI technology to minimize the number of supplier invoices that require manual intervention. SoftCo’s Smart Matching engine matches the most complex scenarios resulting in a 3X improvement in match rate versus standard matching engines. Smart Routing technology determines the correct routing of invoices for approval, reducing the time taken to correctly route invoices by 90%. The average cost to process an invoice in a High Automation environment is just $1.77. This equates to a staggering $1.4m saving per annum for organizations processing 100,000 invoices.

See how much you can save using our simple ROI calculator here:

See how much you can save with SoftCo AP

Select the number of annual Invoices Processed

  • 20k
  • 40k
  • 60k
  • 80k
  • 100k
  • 150k
  • 200k
  • 250k
  • 300k
  • 400k
  • 500k
Annual cost with Manual Processing:
$319,400
Annual Saving using SoftCo Automation:
$284,000
Cost per invoice based on IOFM Benchmark Metrics 2021
SoftCo Automation based on utilizing SoftCo’s Smart Matching engine delivering High Automation
retail jeans shelves

“SoftCoP2P provides Primark with complete visibility, significantly reduced manual workload and a one year return on investment.”

The Right Partner

Our DNA is AP. Our proven solutions are based on our specialized knowledge in automating financial processes. We uniquely maintain full ownership over every project, from inception through to deployment and go live, ensuring our solutions meet our customer’s needs. This approach and the experience of our team is why customers forge long-term partnerships with SoftCo. Below are some resources to help you understand how Accounts Payable automation can transform your business.

Contact us now for genuine AP expertise and advice – and with no obligation.