21 September 2023

SoftCo, the fast growing global Procure-to-Pay (P2P) and Compliance technology company are delighted to announce that Ageas, one of the UK’s premier insurance providers, have chosen SoftCoAP to automate their complete Accounts Payable process.

Ageas offers a wide range of insurance solutions covering motor, home, and business needs, serving 3 million customers in the UK. Beyond the UK, Ageas operates in 16 other countries across the globe including Belgium, France & Hong Kong.

Ageas faced several challenges with their existing AP process. They utilized an extension of their ERP system which claimed it could solve their manual AP issues however it was not fit for purpose, leading the team to manually handle the vast majority of their invoices. Consequently, Ageas sought a solution that would fully automate their AP process, provide them with the highest level of straight through processing for PO invoices, slash the amount of time taken to process non-PO invoices, and gain control and visibility over the entire process.

SoftCo will provide Ageas with end-to-end Accounts Payable automation including automated capture, matching and approval of their 15,000 annual invoices. SoftCo delivers unparalleled touchless automation of all PO and Non-PO invoices by incorporating unique AutoML Machine Learning technology, minimizing the number of supplier invoices that require manual intervention. AutoML ensures that exception handling processing times are reduced by 89%. SoftCoAP will be fully integrated with their existing ERP system, JD Edwards. With SoftCoAP, Ageas can look forward to a streamlined and efficient AP process.

About SoftCo:

SoftCo are a fast-growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s smart technology with unique AutoML 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 1 & 2 and Katakri audited, a Microsoft Co-Sell Certified Partner, an AWS Advanced Technology Partner, and is integrated with over 200 ERP systems.