04 October 2023

• SoftCo automates 200,000 annual supplier invoices for Motion & Flow Control Products Inc. a leader in top-quality industrial products and solutions.
• Key selection differentiator is SoftCo superior matching capabilities. AutoML and Contract matching delivering 90% touchless processing.
• Replacement of older Capture solution with SoftCo automated Smart Capture.
• AP as a profit center with automation delivering supplier discounts.

SoftCo are delighted to announce that Motion & Flow Control Products Inc. (“MFCP”) has selected SoftCoAP to automate the processing of their 200,000 annual supplier invoices. MFCP specializes in the distribution and supply of motion and flow control products, including hydraulic and pneumatic components used in various industries including manufacturing, construction, and agriculture. MFCP operate 44 locations in the US from Alaska to San Diego.

MFCP’s business had doubled in size over a short two-year period, and with similar growth ambitions over the coming years, including acquisitions, MFCP recognized that the current inefficiencies within their AP process was restricting their ambitions. Basic OCR capture was resulting in every invoice requiring manual intervention.

MFCP sought an industry leading AP automation solution that would deliver the highest level of touchless invoice processing, reduce costs and remove inefficiencies to support their growth objectives. Following a competitive vendor analysis, SoftCo were chosen to automate MFCP’s 200,000 annual supplier invoices.

SoftCo will provide MFCP with full AP automation including capture, matching, coding, and approval in addition to automating recurring invoices through the matching MFCP’s complex contracts. SoftCo’s cutting-edge Automated Machine Learning (AutoML) Matching engine will ensure that MFCP achieve market leading STP rates, while non-PO invoices will be accelerated through SoftCo Smart Coding & Routing technology powered by AutoML. SoftCoAP will be fully integrated with MFCP’s existing ERP, Epicor P21.

About SoftCo:

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.