Get started on your AP Automation journey
SoftCo ExpressAP is a smart, powerful cloud-based Accounts Payable Automation solution that delivers cost savings of up to 80%. SoftCo ExpressAP automates vendor invoice processing including invoice data capture, registration, coding, query, and approval. Invoice processing is 100% touchless, supporting remote working, on-the-go email approval, and an easy-to-use Vendor Portal, removing manual processes.
Get started on your AP journey with SoftCo ExpressAP, our cloud-based AP Automation solution that is managed by SoftCo’s highly skilled DevOps team, using Amazon’s Web Services. SoftCo is a certified Amazon Advanced Technology Partner and AWS delivers all cloud hosting services ensuring performance, scalability, and security. SoftCo ExpressAP is deployed rapidly, with unlimited users. SoftCo ExpressAP is built on the SOC audited SoftCo10 platform and provides a seamless upgrade path to the Enterprise solutions, including Procure-to-Pay, eProcurement and Vendor Management. All information is stored in the secure SÄHKE2 and ISO 27001 certified SoftCo Compliant Archive. The system provides a full audit trail over the entire lifecycle of documents. ERP payment is facilitated through the generation of a CSV, XML or custom file output ready to be loaded to the ERP system.
Precise Invoice data capture and rapid onboarding of users, vendors, GL codes and approval matrix reducing manual data entry.
Resolved queries and exceptions are re-routed, signed-off and processed for payment. Rejected invoices are routed back to vendors
Invoices are automatically registered, and exceptions (such as duplicates) escalated.
Approved invoices sent for processing and CSV/XML or custom file generated for loading into ERP/finance system.
Data is auto indexed removing the need for manual keying.
Intuitive dashboard reports monitor key performance metrics.
Streamlined AP coding captures the correct GL and Cost Center for each invoice.
Full visibility on orders and invoices status, queries, delays or discrepancies.
Approval routing based on rules/hierarchy and signoff via the web app or accelerated email approval ‘on-the-go’.
Invoices archived in the Cloud for compliance, query and audit.
“In our time dealing with SoftCo their performance has been second to none. SoftCo very much treat Dairygold as a partner rather than a customer. All of us here at Dairygold could not recommend SoftCo highly enough.”Elaine O’Connell, Dairygold
Invoice Data Capture
SoftCo ExpressAP handles multiple invoice sources. Vendor invoices are collected via a dedicated email address and all traffic is managed by SoftCo ExpressAP.
SoftCo ExpressAP Onboarding is straightforward via a simple spreadsheet of financial information and Master Data. This includes vendor data, user data including approval hierarchy, and coding data with GL and Cost Center information. The data is automatically loaded into SoftCo ExpressAP and you are ‘ready to go’.
Registration & Auto-Indexing
The vendor invoice is registered and all invoice header details are automatically captured. SoftCo ExpressAP incorporates fully automated data capture using OCR software and smart validation, replacing manual key entry and index invoices ready for AP coding. Fields auto-indexed include vendor name, invoice number, invoice date, and invoice Net, VAT/Tax Gross values. SoftCo ExpressAP handles all foreign currencies.
PO Number Capture
SoftCo ExpressAP allows for a corresponding PO number to either be automatically added during the invoice data capture process or added manually during the coding of an invoice. The PO number is then visible throughout the processing lifecycle and is available for searching, filtering, and reporting. The PO Number is included in the export file to the ERP, enabling matching to take place within the ERP.
Once auto-indexing is completed, SoftCo ExpressAP checks for duplicate invoices to ensure invoices are not paid multiple times. The system also checks to ensure a valid vendor and valid invoice totals.
The optimized coding process enables the AP team to efficiently code the correct GL and Cost Centre information for each invoice. Posting models for vendors can be saved for reuse and coding information can be auto imported via spreadsheets.
Once coding is completed, invoices are automatically routed for approval based on defined approval rules and hierarchies. Invoices can be emailed for query with associated comments or rejected and returned to the vendor.
If any key fields are missing from the vendor invoice, there is an option to automatically reject the invoice. An automated process returns the invoice to the relevant vendor with the associated reasons.
SoftCo ExpressAP delivers an accelerated and secure invoice approval process. Invoices are routed for approval based on a defined approval matrix and limits. Automated email notifications are sent, followed by reminders to prompt approver actions.
Out of Office & Substitution
SoftCo ExpressAP supports ‘out of office’ status ensuring there is no delay in invoices being processed. In addition, ‘substitutes’ are allocated where for example an AP Clerk is on annual leave and the system provides full visibility over the work completed.
Approvers receive a notification email with simple action buttons for ‘approve/reject’ within the email. The email includes the invoice as an attachment and summary details. If the approver rejects the invoice, it is automatically returned to the vendor. With SoftCo ExpressAP ‘on-the-go’ email approval, it takes just seconds for verifiers and approvers to progress invoices to the next stage. The invoice “Transfer” option also allows approvers to transfer invoices to another registered approver, rather than rejecting the invoice back to the AP team to start the process again, ensuring that there are no lengthy delays to the processing of invoices.
SoftCo ExpressAP ensures that all invoice queries are actioned immediately. Invoice queries are routed directly to the appropriate user’s email where they respond to the query via email approval or directly through the SoftCo ExpressAP Vendor Portal.
SoftCo ExpressAP provides real-time information and visibility of key activities in graphical format. Bottlenecks relating to specific vendors or users are always visible and promptly addressed.
Real Time Analytics and Reports include active invoices by status, invoices by exception reason, invoices awaiting approval by user, invoice by vendor by status and invoices by users and by value.
Output to ERP
SoftCo ExpressAP generates a CSV, XML or custom file format for straightforward loading by the AP team into the ERP/Finance System. The output file includes Invoice header data, coded information, and approvals to facilitate payment.
With SoftCo ExpressAP, vendors track the progress of invoices submitted removing the need to chase payments over the phone or via email. Once an invoice is submitted for a specific purchase order, vendors track its progress through the Vendor Management portal and view its status within the approval process. This process removes any dangers of duplicate invoices being submitted.
The SoftCo Vendor Portal also provides significant commercial benefits to vendors who can submit invoices via the portal, gain visibility of the status of orders and invoices and can addresses any queries, delays, or discrepancies rapidly. The query management module ensures that all queries are captured, actioned and recorded within the system in the event of a dispute.
SoftCo ExpressAP incorporates a secure compliant archiving system using fast Content Addressable Storage (CAS) providing powerful and rapid search tools for multiple document types with strict access control. The result is the immediate processing of queries whether internally, from vendors, or in relation to external audit requirements.
Secure Document Archive
All documents are stored as password-protected PDFs, preventing unauthorized access, printing, and saving of documents. The document archiving solution incorporates Digital Fingerprint technology ensuring the authenticity of original, unaltered documents.
Document Lifecycle Management
SoftCo ExpressAP provides a full audit trail over the entire lifecycle of documents. From initial storage, to search and retrieval, auditing, and reporting, through to digitally ‘shredding’ documents at the end of the defined lifecycle.
Cloud Based Hosting & Security
SoftCo ExpressAP is hosted in the cloud using Amazon’s Web Services. Amazon is a leading global provider of cloud hosting services with the highest levels of performance and security. SoftCo ExpressAP uses the same infrastructure and security components as the largest environments hosted by SoftCo for Enterprise and Government customers. SoftCo is a certified AWS Advanced Technology Partner and all hosting services are centrally managed by SoftCo’s highly skilled DevOps team.
Date: Wednesday, April 12th, 2023
In this webinar Brian Bertges and Jason Hery discuss the critical steps required to build your case for AP Automation.
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