Vendor Management

Improve your vendor relationships and reduce costs

SoftCo Vendor Management delivers the benefits of working efficiently with preferred vendors. Purchasing is optimized, costs reduced and administration eliminated. The 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 Portal, completing the on-boarding process themselves 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 purchase order and invoice transmission preferences and the 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 are 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.

With SoftCo Vendor Management you:

  • Benefit from working with preferred vendors.
  • Save employees’ time with vendor self-service Portal onboarding.
  • Ensure vendors maintain ongoing financial and commercial data.
  • Audit all changes to vendor financial and commercial data.
  • Provide vendors visibility on order and invoice status via the Portal.
  • Reduce the time taken to resolve and track queries.
  • Manage and track all compliance obligations for AML.
  • Track and address non-compliant vendors.

We have implemented a project that has progressed as planned and within the planned budget.

Kati Siikonen, Process Manager, Palkeet

How does SoftCo Vendor Management work?

Vendor Portal

Onboard, manage, and communicate with vendors via the easy-to-use portal.

Invoice Submission

Empower vendors through invoice/PO submission, ‘PO Flip’ and invoice tracking.

Vendor Visibility

Full visibility of orders and invoices status, queries, delays or discrepancies.

Query Management

Capture, escalation and actioning of all queries in the event of a dispute.


Manage and track all ongoing internal and external compliance obligations.

Reporting and AI Analytics

Maintain full visibility and make smarter procurement decisions.

ERP Integration

Seamless integration ensuring the ERP system is the primary owner of vendor master data.

Streamline your vendor lifecycle management

  • Self-Service Registration

    The workflow process to register and onboard vendors on the portal ensures that all compliance obligations are met, commercial terms are agreed and all activities are automated to facilitate the purchasing and payment processes. SoftCo Vendor Management enables you to invite your vendors to self-register on the portal with Two-Factor Authentication (2FA), providing an email address, password and preferred language. Vendors self-manage all required information, removing the burden on AP departments.

  • On-Boarding

    Once registered and onboarded, your vendor adds compliance documents including company information and financial information and industry-specific compliance documents. Real-time vendor validation ensures the accuracy of all data submitted. This process forms part of the overall vendor authorization process and is managed on an ongoing basis to maintain adherence to company and vendor performance policies. The onboarding process is completed by adding purchase order and invoice transmission preferences.

  • Vendor Self-Management

    With SoftCo Vendor Management, your vendors proactively maintain and update the information captured during the registration and Vendor Portal onboarding process, ensuring an uninterrupted working relationship. Any changes made must first go through your own secure, approval process before they are updated.

Empower your vendors through PO submission and invoice tracking

  • Invoice Submission

    SoftCo Vendor Management enables your preferred vendors to submit all invoices directly from the SoftCo Vendor Portal as they receive purchase orders. This process is expedited through SoftCo’s innovative ‘PO Flip’ functionality where received purchase orders are converted into a corresponding invoice and returned to you immediately.

  • Vendor Visibility

    Vendors are notified instantly when you submit a purchase order, both via email and the Portal. With SoftCo Vendor Management, 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 portal and view its status within the approval process. This process also removes any dangers of duplicate invoices being submitted.

  • Benefiting Vendors

    The SoftCo Vendor Portal also provides significant commercial benefits to your vendors who 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.

Manage your vendor risk and make smarter procurement decisions

  • Ongoing Activities

    SoftCo Vendor Management provides real-time information over your vendors’ activities, and ensures vendors complete and maintain all vendor master data, vendor financial and commercial information. This functionality ensures the organization has a complete breakdown of your vendor spend by vendor risk.

  • Meeting Compliance Obligations

    SoftCo Vendor Management manages and tracks all ongoing compliance obligations for Anti Money Laundering and monitors compliant and non-compliant vendors. Any deviation from the agreed terms or non-compliance with the required up-to-date information is reported for audit and decision-making purposes.

Proven ERP integration

  • Key Benefits

    With SoftCo Vendor Management, your vendors complete and update all information on the vendor portal. All data is validated on the vendor registration forms to ensure compliance with ERP requirements for integration. Once a vendor is fully approved, the solution creates a new record or updates the appropriate record within the ERP system. The ERP system is always the primary owner of vendor master data.

  • Proven Experience

    SoftCo has over 30 years of experience successfully integrating with all major finance systems and databases, completing hundreds of ERP/3rd party system integrations across multiple industries.

Request Demo

Find out what SoftCo can do for your business.

Trusted by over 2 million business users globally.