Today, on the 33rd anniversary of its incorporation, SoftCo announced the latest release of its new Procure-to-Pay (‘P2P’) platform. SoftCo’s solutions automate the procurement and accounts payable process, including the final payment step. SoftCoP2P encompasses a significant investment over the last 2 years in emerging smart technologies, including AI and Machine Learning. The result is a platform that is leading the market in performance and features along with service guarantees.
“We are seeing significant revenue growth due to the power of our platform. We have the best matching engine on the market, so we can guarantee that a minimum of 4 of every 5 supplier PO invoices will go ‘straight through’ the process, with no manual intervention whatsoever. This commitment is unique in the market and ensures a huge financial saving for AP teams, double the standard industry savings. SoftCoP2P is a real gamechanger.”
Commented Susan Spence, Co-Founder of SoftCo.
Customers are already achieving straight through processing rates over 90% and substantial savings per invoice processed compared to typical industry norms. The intuitive and powerful UI enables users to resolve exceptions with productivity levels typically only seen with PO invoice processing. Smart Coding reduces non-PO invoice processing times by 93% on average via machine learning, and Smart Routing accelerates invoice approvals using adaptive learning technology, ten times faster than standard solutions.
The platform achieved the highest independent security rating, in the top 1% of the industry. It features SoftCoPay which automates and optimizes the payment process via a secure single workflow for all payment methods resulting in significant cost savings, attractive rebates and enhanced protection against fraud. SoftCoP2P incorporates certified out of the box ERP integrations, is part of the Microsoft Co-Sell Ready Partner program and is available on the Azure Marketplace for Business Central and Finance & Operations.
Anton Scott, CEO, SoftCo commented,
“Our next gen P2P platform is leading the market in smart automation and security. With the latest in cloud architecture design and cyber protections, we guarantee data isolation and security for our customers and the highest uptime. SoftCoP2P is highly configurable, so we can meet our customer’s unique needs, without any coding, while delivering rapid implementation timescales.”
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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 over 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 Certified Partner, an AWS Advanced Technology Partner, and integrated with over 200 ERP systems.