SoftCo, the fast growing global Procure-to-Pay (P2P) and Compliance technology company today announced that Hydro-Gear, the US-based leading manufacturer of drivetrain solutions, is automating its Accounts Payable (AP) processes with SoftCo.
Founded in 1991 and headquartered in Sullivan, IL, Hydro-Gear is a world leader in the design and manufacture of precision drive solutions for the commercial, residential, and electric markets. Hydro-Gear had revenues employs 350 people across their global operations and manufacturing sites. Hydro-Gear had struggled with inefficient manual AP process and required a solution that would decrease processing errors, provide full visibility across their AP function, and reduce processing costs through touchless invoice processing.
SoftCo will provide Hydro-Gear with end-to-end Accounts Payable automation including automated capture, matching and approval across their 75,000 annual invoices which will remove the high levels of manual keying and processing of invoices. SoftCo Smart Matching will further improve the touchless invoice processing rate ensuring that even the most complicated scenarios can be matched automatically. SoftCo Dashboards will provide Hydro-Gear complete visibility over their entire AP Process.
SoftCo AP will be fully integrated with Hydro-Gear’s ERP system, MTMS.
Anton Scott, CEO SoftCo Group, commented
“We are delighted to be working with Hydro-Gear to transform their AP processes. Hydro-Gear and their consultants conducted an extensive and rigorous evaluation of the market, and we are thrilled that they have chosen SoftCo. SoftCo prides itself on our superior technology, ease of use, deep AP knowledge and market leading touchless invoice processing.”
SoftCo are a fast growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s smart technology delivers unrivalled straight through invoice processing rates of over 80%, ensuring industry leading ROI. With 30 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 including PwC, Volkswagen, Primark, Sunny Delight and the Finnish Government. SoftCo are SOC and ISO27001 certified, a Microsoft Gold Partner, an AWS Advanced Technology Partner integrates with over 200 ERP systems.