Integrated Power Services (IPS) have chosen SoftCoAP to automate their Accounts Payable (AP) processes including:
- Automation of their 120,000 annual invoices with market leading smart matching and AutoML Machine Learning.
- Integration of SoftCoAP with their 3 different ERP systems.
- Visibility and control of all invoices across 15 entities and 67 locations.
SoftCo, the fast-growing global Procure-to-Pay (P2P) and Compliance technology company, today announced that Integrated Power Services (IPS), the leading provider of maintenance and repair services for electric motors in North America, have chosen SoftCo to automate their complete Accounts Payable process. Serving over 10,000 customer locations across a wide range of industries including utilities, hospitals, and oil & gas, IPS is the leading North American solution provider for driven equipment and power management systems. Headquartered in Greenville, South Carolina, Integrated Power Services has the industry’s largest network of locations, with repair centers and field service offices right across North America.
IPS has been growing significantly over the past number of years both organically and through acquisition. Their manual AP processing struggled to support this growth. The decentralized process, with invoices being received at their 69 different locations and being processed completely manually, resulted in high processing costs, lack of visibility, and errors. IPS conducted a comprehensive evaluation of the AP Automation market and from an initial list of 6 Global AP Automation solution providers, IPS selected SoftCo.
SoftCo will provide IPS with end-to-end AP automation including automated capture, matching, coding, and approval of their 120,000 annual invoices. SoftCo delivers unparalleled touchless automation of all PO and Non-PO invoices by incorporating unique AutoML Machine Learning technology, minimizing the number of supplier invoices that require manual intervention. AutoML ensures that exception handling processing times are reduced by 89%. SoftCoAP fully integrates with IPS’s existing ERP systems, Microsoft AX, ACS, and Netsuite.
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 and Katakri audited, a Microsoft Co-Sell Certified Partner, an AWS Advanced Technology Partner, and is integrated with over 200 ERP systems.