Tel: +353 (1) 294 2420

71%
PO Compliance

80%
Touchless Processing

100%
Control and Visibility

“Invoices now are going through at 80% touchless processing. Prior to SoftCo, it was between 5-10% maximum”

Martin Ray, Accounts Payable Manager, Superdry

Challenge

Superdry’s AP process was heavily manual, leading to inefficiencies in invoice processing and matching, with limited use of purchase orders. This created a lack of spending visibility and placed considerable strain on the Accounts Payable team. Delayed invoice payments and the inability to provide effective reporting further complicated the perception and performance of the AP team.

Solution

SoftCo have revolutionized Superdry’s AP process. By automating their invoice process, SoftCoAP has enabled Superdry to reduce the manual effort previously required in invoice processing, improved the creation and use of purchase orders for better spend visibility and enhanced the communication methods with suppliers, allowing for a smoother transaction process.

Results

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

  • Reduced Staffing Costs: Superdry was able to streamline its AP function, redeploying three team members into more strategic roles within management accounts.
  • Increased Processing Efficiency: The company saw an increase in touchless invoice processing from 5-10% to 80%, with a goal to reach 100% in the subsequent 12 months.
  • Higher PO Compliance: Purchase order compliance soared from a mere 10-15% to over 71%.
  • Consistency and Efficiency: Post-SoftCo implementation, the consistent approach allowed for invoices to be processed efficiently, irrespective of the jurisdiction.
  • Enhanced Team Perception: The AP team’s reputation improved significantly, with high-value work recognized by the audit committee and non-executive directors, largely attributed to SoftCo’s effective implementation.

Information

Industry:Retail Fashion
Solution:Accounts Payable Automation
Regions:Worldwide
Employees:3,500+
Invoices:30,000 per annum
ERP System:Coda Financials

Founded by James Holder and Julian Dunkerton in 2003, Superdry operates through 740 Superdry branded stores in more than 60 countries, employing almost 4,000 people and recorded revenues of more than $700m in 2021.

“I would recommend SoftCo purely by the way that they have delivered on everything that they’ve promised. We’ve been able to also hit our targets with the automation solution that they’ve delivered for us”

Martin Ray, Accounts Payable Manager

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%.