14 August 2023

SoftCo, the fast-growing global Procure-to-Pay (P2P) and Compliance technology company, today announced that it has been recognized as a Sample Vendor for AP Invoice Automation (APIA) in the Gartner® Hype Cycle™ for Procurement and Sourcing Solutions 2023 report.

Within the report, Gartner® state “APIA technology is not new, but machine learning (ML) technologies increasing government invoicing regulations and workforce expectations have changed the scope of customer expectations. Customer use cases have evolved well beyond simple document digitization and approval, forcing organizations to upgrade to solutions that solve modern problems. Government digital invoice legislation will force the technology to evolve as e-invoicing becomes mandatory in more countries.”

SoftCo’s unique Automated Machine Learning (AutoML) technology leads the market and delivers 90% straight-through processing rate for PO invoices, while non-PO invoices are processed on average 89% faster, ensuring industry leading ROI.

Commenting, Anton Scott, CEO SoftCo, said

“We are delighted to be recognized by Gartner® in the APIA (AP Invoice Automation) category. Our teams work tirelessly to ensure that we have the most innovative solution on the market. AutoML machine learning has enabled us to further increase the levels of automation to a remarkable 90% touchless-invoice processing rate. SoftCoAP is a real gamechanger.”

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.

Gartner, “Hype Cycle™ for Procurement and Sourcing Solutions, 2023,” Kaitlynn Sommers, Micky Keck, Lynne Phelan, Naveen Mahendra, Cian Curtin, Chaithanya Paradarami, July 19, 2023.

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