SoftCo, the leading global providers of Procure-to-Pay (P2P) and Accounts Payable (AP) Automation technology, is delighted to announce that Avail Infrastructure Solutions (Avail), manufacturers of application-critical equipment, have chosen SoftCoAP to automate their entire Accounts Payable process.
Headquartered in Georgia in the United States and employing almost 2,000 people, Avail are international providers of highly engineered application-critical equipment, providing technologies and specialized services to the power generation, transmission, distribution, oil and gas and industrial markets.
Avail had been using a legacy AP solution, however they were manually handling or intervening with the vast majority of their 100,000 annual invoices. As a result of these unnecessary manual touchpoints, processing was slow resulting in late vendor payments and extended reconciliation periods. In addition, they were experiencing issues with UoM & SKU variances and an increase in surcharges. Their goal was to establish a centralized system for their global operations, remove manual touchpoints and gain complete control and visibility over their AP process. Following an extensive market evaluation process, Avail chose SoftCoAP.
SoftCo will provide Avail with full AP automation including capture, matching, coding, and approval in addition to automating recurring invoices and surcharges. SoftCo’s cutting-edge Automated Machine Learning (AutoML) Matching engine will ensure that Avail achieve market leading STP rates of their 80,000 PO invoices, while their 20,000 non-PO invoices will be accelerated by 89% through SoftCo Smart Coding & Routing technology, also powered by AutoML. SoftCoAP will be fully integrated with Avail’s existing Oracle ERP system.
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.
