Organizations typically manage three different types of spend – capital spend, recurring spend and operational spend. SoftCo eProcurement software streamlines each of these spend categories.

Vendor catalogs and shopping lists are maintained, and the powerful vendor punch-out functionality allows the selection of products directly from your vendors’ website and population directly back into your SoftCo shopping cart. Requisition templates create re-usable shopping lists for continuous use.

SoftCo’s eProcurement solution’s pre-approved spend functionality allows seamless drawdown on pre-approved or capital budgets for projects with agreed preferred vendors. For recurring spend such as subscriptions, leasing, rent and utilities, SoftCo eProcurement software provides a contract PO to all vendors referencing the agreed installment or payment plan as per the agreed contract/subscription.

SoftCo Vendor Management solution enhances relations with your key vendors with full online visibility of all orders and invoices and ensures queries and disputes are addressed immediately.

Vendors register on the SoftCo Vendor Management Portal, self-completing the on-boarding process by adding company and financial information and all supporting documentation, including payment and VAT/TAX data. The automated onboarding guarantees adherence to AML compliance and removes the need to chase vendors for vital information. Registered vendors add their own order and invoice transmission preferences and the SoftCo Vendor Management Portal enables paper-based vendors to submit invoices.

SoftCo Vendor Management enables preferred vendors to submit all invoices directly from the Portal as they receive purchase orders. ‘PO Flip’ converts received orders into a corresponding invoice that is returned to you immediately. Vendors are notified instantly when you submit a purchase order and track the progress of invoices submitted. There is no need to chase payments and administration is eliminated.

Both domestic and international payments are revolutionized with SoftCoPay via one single channel. By delivering a single payment file, multiple manual processes are consolidated into one secure and efficient process, lowering costs and removing the risk of fraud and error.

SoftCoPay, through our payment partner Corpay, has a network of over 3.8 million vendors and work to continuously move vendors from expensive check payments to more cost effective, faster digital payments that drives down costs and earns you rebates.