{"id":50962,"date":"2023-06-01T12:48:27","date_gmt":"2023-06-01T11:48:27","guid":{"rendered":"https:\/\/softco.com\/?page_id=50962"},"modified":"2025-04-01T13:30:20","modified_gmt":"2025-04-01T12:30:20","slug":"aviation","status":"publish","type":"page","link":"https:\/\/softco.com\/ie\/industry\/aviation\/","title":{"rendered":"SoftCoP2P for Aviation"},"content":{"rendered":"\n
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SoftCo for Aviation<\/h1>\n\n\n\n

Smart P2P configured for the Aviation Industry<\/p>\n\n\n\n

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Benefits<\/a><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n
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The airline industry is particularly complex for finance teams because of the large volume of transactions and the inherent international nature of operations. Every domestic and international flight has different expenses ranging from airport charges, fuel charges, ground handling and navigation charges levied by air navigation service providers (ANSP). Accurately capturing data, processing invoices, and paying vendors on time is critical for maintaining positive relationships with vendors and ensuring operations stay on-schedule.<\/p>\n\n\n\n

SoftCoP2P for Aviation<\/strong><\/span> is a global solution that intelligently captures and validates direct operating costs (DOC) supplier invoice data, accurately allocating costs to individual flight legs through seamless integration with ERP and Flight Operating System. This enables aviation partners to gain a comprehensive understanding of the true cost of flights, especially considering the significant number of private flights taken globally each year. Embracing the IATA SAI initiative, the system automates P2P processes, empowering airlines to efficiently leverage industry-led standards for electronic invoicing with DOC suppliers.<\/p>\n\n\n\n

Read<\/summary>

SoftCoP2P<\/strong><\/span><\/strong> delivers unrivalled savings. Smart Matching, powered by AutoML Machine Learning, removes manual elements of invoice matching, resulting in an industry-leading 90% touchless invoice processing. Smart Coding and Smart Routing also utilize Machine Learning to automatically determine the correct routing and coding of invoices, resulting in 89% faster processing of non-PO invoices compared to manual environments. Surcharge processing is automated regardless of the way in which they are presented, reducing the time to process by 95%.<\/p>

SoftCoP2P<\/strong><\/span><\/strong> is truly global, handling multiple entities and multiple currencies in multiple languages. It eliminates maverick spending and delivers efficiencies, cost savings and 100% visibility & control over the entire procure to pay process. SoftCoP2P software boosts your key vendor relationships by providing an efficient onboarding process and full visibility over the status of their invoices. The solution enforces and optimizes pricing agreements with your preferred vendors. It also manages the request, purchase, and control of contract-based spend.<\/p><\/details>\n<\/div><\/div>\n\n\n\n

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Benefits of SoftCoP2P for Aviation<\/h2>\n\n\n\n
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Validates
DOC’s<\/h3>\n\n\n\n

Validates fuel invoices, navigation charges & handling charges against contracted rates.<\/p>\n<\/div>\n\n\n\n

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Accelerates Exception Handling<\/h3>\n\n\n\n

Highlights discrepancies between journey log information & navigation invoice.<\/p>\n<\/div>\n\n\n\n

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Automates Navigation
Invoice Processing<\/h3>\n\n\n\n

Intelligently matches multi-line navigation invoices with contracted rates & journey leg ID.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n

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Allocates DOC’s
to Leg ID’s<\/h3>\n\n\n\n

Automatically allocates costs to the flight leg identifier & posts data to the ERP system.<\/p>\n<\/div>\n\n\n\n

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Improves Vendor Management<\/h3>\n\n\n\n

Provides easy invoice submission, an intuitive vendor portal, & powerful analytics.<\/p>\n<\/div>\n\n\n\n

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Integrates with
ERP and FOS<\/h3>\n\n\n\n

Integrates with over 200 ERP’s, from industry leaders to bespoke Flight Operating Systems.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

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“The flexibility of our software and SaaS architecture means we can uniquely address the complex requirements of the Aviation industry, without coding and with rapid deployment.\u201c<\/p>\nNeil Kelly VP Products<\/cite><\/blockquote>\n\n\n\n

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Seamlessly Validate Direct Operating Costs<\/h3>\n\n\n\n

SoftCoP2P automatically validates and matches fuel invoices, navigation charges, and handling charges against agreed contracted rates, and posts the data to your ERP. Ground handling charges like catering, towing, lavatory and water services, and de-icing, vary according to the airport, type of plane, arrival time, and equipment required. SoftCoP2P extracts the relevant handling charge from the Flight Operating System for the specific flight and location and creates a unique purchase order (PO). When an invoice is received, SoftCoP2P matches the relevant line items billed against the PO, flags any discrepancies, and posts matched transactions directly to the ERP.<\/p>\n<\/div>\n\n\n\n

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Accelerate Exception Handling<\/h3>\n\n\n\n

SoftCo identifies exceptions or queries and clearly presents them to the AP team through our intuitive and configurable UI. When identified, invoice exceptions are highlighted to the AP team for review. For example, should the flight departure time on the journey log not match the invoice because of a minor flight delay, the journey log information and navigation charge invoice line will not match. SoftCoP2P highlights the time discrepancy and also provides AP teams the ability to approve the match regardless.<\/p>\n<\/div>\n\n\n\n

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Allocate Direct Operating Costs to Leg ID’s<\/h3>\n\n\n\n

After validating invoices, SoftCoP2P automatically and accurately allocates costs to the correct flight. All costs that are validated against contracted or agreed rates are allocated to the relevant flight leg ID identifier and the data is posted to the ERP system against the correct direct operating cost line. Instead of having to manually allocate expenses, AP teams have a faster and more accurate view of costs, transforming accounting workflows.<\/p>\n<\/div>\n\n\n\n

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Improve Vendor Management<\/h3>\n\n\n\n

SoftCo Vendor Management offers full visibility of invoices, queries, and disputes in a single centralized source of truth. The cloud-based solution reduces costs and supports vendor relationship management with easy invoice submission capabilities, an intuitive vendor portal, and powerful reporting and analytics.<\/p>\n<\/div>\n\n\n\n

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Robust Reporting and AI Analytics<\/h3>\n\n\n\n

SoftCo provides cutting-edge analytics tools that support strategic decision-making. SoftCo Advanced Analytics delivers precise, up-to-date insights on Accounts Payable productivity, invoice processing rates and payment performance. SoftCo also enables 3rd party data integration with all leading analytical tools such as Microsoft PowerBI, Salesforce, and Tableau.<\/p>\n<\/div>\n\n\n\n

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Seamless ERP & FOS Integration<\/h3>\n\n\n\n

SoftCo SmartConnect securely manages data exchange between your ERP, Flight Operating System and SoftCoP2P. SoftCo has 35 years\u2019 experience and track record of integrating with all major finance systems, databases, and over 200 ERP’s, including leading industry names and bespoke systems. Integration between your FOS, ERP and SoftCoP2P ensures to ensure automated and consistent information is shared between systems, creating a single source of truth.<\/p>\n<\/div>\n\n\n\n

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How SoftCoP2P for Aviation works<\/h2>\n\n\n\n
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Streamlined Vendor Management<\/h4>\n\n\n\n

SoftCo Vendor Management delivers the benefits of working efficiently with preferred Vendors. Purchasing is optimized, costs reduced, and administration is eliminated. The cloud-based solution ensures Vendors have full online visibility of all orders and invoices and queries and disputes are addressed immediately.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Superior Smart Coding<\/h4>\n\n\n\n

SoftCo non-PO invoice handling reduces processing time by up to 90%, with industry leading compliance and audit checks. SoftCo Non-PO Smart Coding\u202fintelligently identifies and learns coding patterns allowing it to automatically code invoices, saving time and eliminating error.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Agile and Efficient eProcurement<\/h4>\n\n\n\n

SoftCo eProcurement (electronic procurement software) ensures a quick and efficient purchasing process for all operational spend, in full compliance with your organization\u2019s procurement policies. SoftCo eProcurement software streamlines capital, recurring and operational spend.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Accelerated Invoice Approval workflow<\/h4>\n\n\n\n

SoftCo Accounts Payable Automation delivers an accelerated, secure invoice approval process with configurable automated workflows. With multiple verifiers and approvers, invoices are routed for approval, automated email notifications are sent, followed by reminders. Un-actioned invoices are routed to an alternative approver, ensuring minimal process delay.  <\/p>\n\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Fully Integrated Contract Compliance<\/h4>\n\n\n\n

SoftCo Contract Compliance closely integrates with all SoftCo P2P modules. It manages the request, purchase and control of contract-based spend within eProcurement and facilitates contract and invoice matching within AP with comprehensive reports. The solution alerts you for contract expiry or renewals. All contracts and supporting information are stored in the SoftCo Compliant Archive. <\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Single Payment Workflow<\/h4>\n\n\n\n

SoftCoPay\u202ftransforms payments from a cost centre to a profit centre by reducing costs, earning rebates, mitigating payment risk, and optimizing payment type. Payments are streamlined into an easy-to-use workflow. The seamless process, from receipt of invoice to vendor payment, delivers control and transparency with straightforward reconciliation through your ERP and a fully auditable payment process.<\/p>\n\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Precise Invoice Data Capture<\/h4>\n\n\n\n

SoftCo Accounts Payable Automation captures all invoice data, regardless of the format received from your Vendors, using advanced Data Capture technology or via SoftCo\u2019s outsource data capture service. Processing times are improved, and keying errors eliminated.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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100% Control of Project Costs<\/h4>\n\n\n\n

SoftCo Pre-Approved Spend enables a seamless drawdown on pre-agreed budgets. Purchase Orders are generated immediately for spend with preferred vendors. Entity, department, or specific project budgets are not exceeded and spend with vendors us controlled.<\/p>\n\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Unrivalled Invoice Matching<\/h4>\n\n\n\n

The SoftCo Matching Engine uses advanced RPA technology removing all manual elements of invoice matching, delivering an error-free, efficient process for all invoice types. The SoftCo Smart Matching engine applies Machine Learning technology to even the most complicated matching scenarios, such as incomplete data, missing product codes, and FX conversions to deliver 90% match rates.<\/p>\n\n\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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Powerful Reporting and AI Analytics<\/h4>\n\n\n\n

SoftCo delivers industry leading analytics to empower organizations to make informed decisions. SoftCoP2P offers both SoftCo Advanced Analytics, part of the SoftCo solution, and the ability to integrate with 3rd party analytics tools. The platform provides accurate, real-time information over AP productivity, invoice processing rates and payments performance.<\/p>\n\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

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Industry-leading innovative AutoML<\/strong> Matching Engine<\/h2>\n\n\n\n
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SoftCo\u2019s unique AutoML <\/strong>Machine learning automates the time-consuming and iterative tasks associated with Invoice Automation, delivering unparalleled savings for the customer, with full auditability and control.<\/p>\n\n\n\n

Utilizing millions of real data from Industry, Operations, Organizations, and Suppliers, the SoftCo AutoML <\/strong>Machine Learning engine \u2018learns\u2019 and improves based on 250+ match \u2018patterns\u2019 and applies this automation to SoftCo Smart Matching models, including tolerance, aggregation, and confidence match criteria. SoftCo AutoML uses real-time dynamic data. Instead of relying on stale static data, the engine learns immediately every time an invoice finishes processing, constantly improving automation customized to the specific organization.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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Machine Learning (ML) is a game-changer in automating both PO and Non-PO invoicing, with full transparency and auditability. Manual invoice processing can cost $16 per invoice<\/strong>, whereas high invoice automation, driven by AutoML reduces processing costs by over 90%. The same ML technology is applied to the coding and routing of invoices, which are optimized by AutoML based on continuous learned patterns.<\/p>\n\n\n\n

The results are unrivaled, and the savings exceptional. SoftCo delivers 90% straight through processing for PO invoices and 89% faster processing of Non-PO invoices.<\/strong><\/p>\n<\/div>\n\n\n\n

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SoftCo has the best matching engine with 90% touchless
processing including AutoML, the new Machine Learning model.
See why our Smart Matching engine leads the market.<\/p>\n<\/blockquote>\n<\/blockquote>\n\n\n

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SoftCo SmartConnect seamlessly integrates with over 200 ERP’s and FOS’s<\/h2>\n\n\n\n
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Seamless, secure and timely integration with the Flight Operating System or ERP is a key part of any P2P or AP Automation solution. Integrating your ERP & FOS with SoftCoP2P will expand its capabilities, making them more powerful business tools than ever before. SoftCo SmartConnect is a secure, highly configurable cloud-based platform which manages all of the data exchange between the ERP, FOS and SoftCo. SoftCo integrates seamlessly with existing systems at a single point, thus offering access to real-time information and data.<\/p>\n\n\n\n

SoftCo SmartConnect has seamlessly integrated with over 200 ERP\u2019s including Microsoft, Oracle, SAP, Infor, Sage and multiple industry specific and even bespoke ERP\u2019s.<\/p>\n<\/div>\n\n\n\n

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Additional Resources<\/h2>\n\n\n\n
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eBook<\/p>\n\n\n\n

Automating Accounts Payable for Retail<\/a><\/strong><\/h4>\n\n\n\n

Retail organizations are encountering industry-specific challenges. Learn how automation can resolve the significant challenges of manual AP processes and the value it adds to the retail supply chain.<\/p>\n\n\n\n

Read More<\/a><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n

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On-Demand Webinar<\/p>\n\n\n\n

The Rise of Surcharges & How to Manage Them<\/a><\/strong><\/h4>\n\n\n\n

Learn how SoftCoAP simplifies and accelerates the process of capturing and accounting for different types of surcharges, to ensure accuracy over the true costs of goods and materials. <\/p>\n\n\n\n

Watch Now<\/a><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n

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Blog<\/p>\n\n\n\n

Key Accounts Payable Metrics That Matter to Your CEO<\/a><\/strong><\/h4>\n\n\n\n

Here we run-through important accounts payable performance metrics that can be monitored to ensure that your AP department is running both efficiently and effectively. <\/p>\n\n\n\n

Read More<\/a><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

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See what SoftCo can do
for your business<\/h2>\n\n\n\n

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