SoftCo, industry leaders in global Procure-to-Pay (P2P) and Accounts Payable (AP) Automation technology, is delighted to announce that NorthStar Energy (NorthStar), investors in the sustainable future of fuel, have chosen SoftCoP2P to automate their entire Procure-to-Pay Process.
NorthStar Energy are the holding company responsible for petroleum-based energy, shared services, solutions and logistics companies across North America. Under their leadership, their mission is to allow their companies to access best-in-class resources to unlock their full growth potential, while being rooted in sustainable, environmental and safety compliance to guide the future of fuel.
NorthStar entered the automation market having struggled with heavy manual data entry and touchpoints, which led to long processing times prone to human error. Their existing invoice capture system was unable to handle their invoice volumes, which caused poor reporting and insights on their financial processes. NorthStar’s annual invoice intake is entirely Non-PO, which non-sophisticated systems struggle to process efficiently.
Using SoftCoP2P, NorthStar will now benefit from an automated end-to-end procurement process, and industry-leading 89% faster processing of their 80,000 invoices received annually. AI-driven Automated Machine Learning (AutoML) technology is embedded within the SoftCo Smart Coding and Smart Routing technology, allowing for PO levels of processing for Non-PO invoices, with invoices coded in just the click of a button. NorthStar will use SoftCoPay to send unrestricted payments both domestically and internationally with unmatched fees and exchange rates. NorthStar will also benefit from unmatched exception handling technology, resulting in 89% greater cost savings.
About SoftCo
SoftCo is a fast-growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s smart technology with unique Automated Machine Learning (AutoML) delivers unrivalled straight through invoice processing rates of 90%, ensuring industry leading ROI. 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 1 & 2 audited, a Microsoft IP Co-Sell Certified Partner, an AWS Advanced Technology Partner, and is integrated with over 200 ERP systems.
