Challenge

• Unified AP Team: SoftCoAP has enabled the creation of a single AP team across different SSCs, providing a standardized operating platform irrespective of location.
• Cloud-Based Accessibility: SoftCoAP’s cloud accessibility and browser-based interface allows VP’s team members to work remotely and collaborate efficiently.
• Enhanced Data Visibility: With SoftCoAP, VP PLC have gained crucial insights into invoice statuses, due dates, and queries, enhancing internal and supplier communication.
• Streamlined Processes: The solution standardized invoice processing across all locations, reducing approval times and operational bottlenecks.

Solution

• Improved Supplier and Internal Relationships: Transparent and efficient processes rebuilt trust and improved communications with suppliers and within the organization.
• Increased Efficiency Without Additional Headcount: Despite a surge in invoice volumes, VP PLC managed to handle the increase without expanding their team, thanks to automation.
• Effective Query Resolution: AP automation provided up-to-date information, enabling VP PLC to work closely with vendors to refine processes and resolve issues effectively.
• Continuous Improvement: SoftCo’s commitment to understanding VP PLC’s challenges and goals has led to ongoing enhancements in the software, aligning with the company’s evolving needs.

Results

The implementation of SoftCoAP led to several key benefits:
• Reduced Staffing Costs: JJ Foods were able to scale their invoices from 60k invoices to 100k, while reducing their headcount.
• Greater AP Team Satisfaction: The implementation of SoftCoAP removed manual, repetitive tasks, giving the AP team greater value in their work.
• Improved Supplier Relationships: Faster invoice processing times mean JJ Foods pay suppliers on-time, improving their vendor relations.
• Detailed Invoice Capture: Prior to SoftCoAP, JJ Foods only matched invoices at a header level. Post implementation, they are automatically matching line items, leading to greater visibility.
• Greater Internal Controls: JJ Foods are able to monitor their invoice processing performance, remove bottlenecks and identify areas for improvement.