18 September 2023
SoftCo, the fast-growing global Procure-to-Pay (P2P) and Compliance technology company, today announced that David Yurman, America’s leading luxury jewelry and timepiece brand, have chosen SoftCo to streamline and automate their entire Procure-to-Pay process.
Headquartered in the heart of New York, David Yurman has a global workforce of 7,500 employees and annual revenues of $1.7 billion. Established in 1980 by the visionary artists David and Sybil Yurman, the family-owned brand has become synonymous with luxury. This jewelry can be found in 49 wholly owned retail stores across the United States, Canada, and France. Additionally, their iconic pieces are available in over 350 locations worldwide.
Behind the storefronts, David Yurman faced challenges with their Goods Not for Resale (GNFR) invoice process, which was leading to maverick expenditure. Recognizing the need for a robust P2P solution, they sought a system that would formalize their procurement and approval process over all GNFR spend and subsequently automate their vendor invoices.
SoftCo will provide David Yurman with end-to-end P2P automation, encompassing a fully automated e-Procurement solution with Vendor Portal through to automated processing, matching, and approval of their invoices.
With SoftCoP2P, David Yurman will gain 100% control and visibility over their entire non-Trade spend , ensuring strict adherence to budgets and organizational spending policies. Business users will now channel their spending through preferred vendors at agreed rates. SoftCo’s Smart Matching engine will automate David Yurman’s GNFR invoices, and the brand will also harness automation for their Non-PO invoices using Smart Coding and Smart Routing. SoftCo SmartConnect will ensure seamless integration with David Yurman’s ERP System, Oracle.
About SoftCo:
SoftCo are a fast-growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s smart technology 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 and Katakri audited, a Microsoft Co-Sell Certified Partner, an AWS Advanced Technology Partner, and is integrated with over 200 ERP systems.
