12 June 2023
SoftCo is delighted to announce the successful roll-out of its market leading Smart Accounts Payable Automation solution with Hydro-Gear, the US-based manufacturer of drivetrain solutions. Headquartered in Sullivan Illinois, Hydro-Gear is a world leader in the design and manufacture of precision drive solutions for the commercial, residential and electric markets, working with customers such as John Deere.
Hydro-Gear had struggled with inefficient manual AP process across their complex manufacturing operations. They required a solution which would decrease processing errors, provide full visibility across their AP function, reduce processing costs and integrate with the 4 ordering systems used to manage their 3,800 global suppliers.
SoftCoAP now fully automates the processing of Hydro-Gear’s 75,000 supplier invoices, encompassing capture, matching, coding, and approval. SoftCo’s Smart Matching technology delivers industry leading straight-through processing and significant cost savings for Hydro-Gear. The Smart Matching engine incorporates unique confidence scoring technology. SoftCo is integrated with their existing ERP, MTMS and their additional ordering systems XPO, CribMaster and HCL Notes.
Commenting on the project completion, Anton Scott, CEO SoftCo Group said;
“We are delighted that Hydro-Gear have gone live with SoftCoAP which delivers unparalleled touchless automation, minimizing the number of supplier invoices that require manual intervention. We look forward to seeing Hydro-Gear reap the real-world benefits of our market-leading technology.”
About SoftCo
SoftCo are a fast-growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s smart technology delivers unrivalled straight through PO invoice processing rates of 90%, ensuring industry leading ROI. With 33 years’ experience, SoftCo ranks highest in independent customer satisfaction surveys. Operating from the US, Finland, the UK and Ireland, SoftCo has over a million users worldwide with customers including PwC, Volkswagen, Primark, Logitech and the Finnish Government. SoftCo is ISO27001 certified, SOC and Katakri audited, a Microsoft Co-Sell Certified Partner, an AWS Advanced Technology Partner, and is integrated with over 200 ERP systems.
