SoftCo are delighted to announce that Logitech have gone live with SoftCo Accounts Payable. From day 1 go-live, Logitech have already achieved a 75% Straight Through Processing (STP) rate whereby three quarters of supplier invoices require no manual intervention whatsoever. The success of the Logitech implementation further demonstrates how SoftCo’s AI matching engine leads the global market and delivers three times the industry average STP.
Neil Kelly, CPO SoftCo, commented,
“The project teams have achieved a fantastic result, in a very short time frame. Such a high straight through rate delivers a 90% cost reduction for our clients, compared to manual processing. We are delighted to see the impact of our new AI matching, smart coding and smart routing which we believe is a game-changer for AP automation.”
Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Logitech helps all people pursue their passions by designing experiences so everyone can create, achieve, and enjoy more. Logitech designs and creates products that bring people together through computing, gaming, video, streaming and creating, and music.
SoftCo are a fast growing global Procure-to-Pay (P2P) and Compliance technology company. SoftCo’s Smart Automation technology is Cloud based using the latest emerging technologies including Artificial Intelligence and Robotics and is transforming how companies manage their P2P processes, reducing costs and fighting fraud. Operating from offices in the US, Finland, UK and headquartered in Ireland, SoftCo has over a million users worldwide including PwC, Volkswagen, Primark, Sunny Delight and the Finnish Government. SoftCo are SOC and ISO27001certified, a Microsoft Gold Partner, an AWS Advanced Technology Partner and the solutions are integrated with over 200 ERP systems.