Austin Powder have chosen SoftCo to automate their Accounts Payable processes including:
- Automation of their 80,000 annual invoices with market leading AutoML Machine Learning Matching to deliver the highest touchless invoice processing rates.
- Smart Coding and Routing to accelerate the processing of non-PO invoices.
- Integration of SoftCoAP to Austin Powder’s existing ERP, System21.
SoftCo, the fast-growing global Procure-to-Pay (P2P) and Compliance technology company, today announced that Austin Powder, the leading provider of technical & blasting services and manufacturer of industrial explosives, have chosen SoftCo to automate their complete Accounts Payable process. Founded in 1833, Austin Powder is one of the oldest manufacturers of explosives in the world and today employs 4,500 worldwide, servicing customers in the Americas, Europe, Asia, and Africa.
Austin Powder had an existing AP Automation solution in place, however this solution was falling short in a number of areas, meaning that they were manually touching the majority of their invoices. They required a best-of-breed solution which would fully automate their AP process, provide them with a high percentage of straight through processing for PO invoices, reduce the amount of time taken to process non-PO invoices, and gain control and visibility over the entire process.
SoftCo will provide Austin Powder with end-to-end Accounts Payable automation including automated capture, matching and approval of their 80,000 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, System21.
SoftCo are a fast-growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s smart technology with unique AutoML Machine Learning 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.