SoftCo is delighted to announce the launch of its new Vendor Management solution with integrated Vendor Portal. Effective Vendor Management is critical to mitigating supply chain risks, controlling costs and unlocking profitability. A recent Deloitte report states that the immediate focus for companies needs to be on improving visibility into supply chain risk which will “require a more digitized approach”. SoftCo Vendor Management delivers optimized purchasing, cost reduction and the elimination of manual administration. The solution enhances relations with vendors, giving full online visibility and ensuring any queries or disputes are addressed immediately.
With SoftCo Vendor Portal, vendors self-complete the on-boarding process adhering to AML compliance and removing the need to chase vendors for vital information. The portal provides real-time information over vendor activities ensuring protection against vendor non-compliance and deviation from agreed terms. With a simple ‘PO Flip’ orders are converted into corresponding invoices that are returned immediately through the portal. Vendors are notified instantly when a purchase order is submitted and can track the progress of invoices submitted.
Commenting, Robert Hickey SoftCo CTO said:
“At SoftCo, we work with organizations across the globe and are acutely aware of the challenges that they are facing in the current climate. A vital part of any business is having control and visibility over their supply chain in order to manage risk and ensure continuity. For many organizations, the switch to remote working has made this difficult. However, with SoftCo Vendor Management, organizations benefit from a platform that provides complete visibility over vendor data, spend and adherence to agreed terms.”
SoftCo is a global organization with offices in the USA, Ireland, the UK, and the Nordics. SoftCo is ISO 27001 certified, a Microsoft Gold Partner, AWS Advanced Technology Partner, and SAHKE2 certified. Over one and a half million business users worldwide across all industry sectors use SoftCo solutions which include AP Automation, Procure-to-Pay, eBilling, and our Compliant Archive solution. Customers include the Finnish Government, Primark, Sunny D and St Peters University Hospital.