SoftCo AP Automation software


9 reviews(5.0/5)
9 reviews(5.0/5)

SoftCo is a cloud-based and on-premise software that provides solutions in financial process automation. It is designed for midsize to large companies across all industry sectors.

SoftCo AP Automation automates the capture of paper, email, and electronic invoices, 2- and 3-way invoice matching, and routing of invoices to the appropriate business users for exception handling and/or approval. The solution integrates with the organization’s ERP system in order to match invoices against supplier master data, POs, and GRNs created in the ERP, and to post approved invoices back to the ERP for payment.

The analytics module in SoftCo AP Automation provides role-based dashboards to CFOs, finance managers, and accounts payable, and automatically generates detailed spend analysis, and accruals reports. Optional modules include SoftCo Procurement, SoftCo Supplier Portal, and SoftCo Contract Management.

SoftCo serves companies with 50+ employees. There is a set-up and annual recurring fee.

Supported Operating System(s):
Mac OS , Web browser (OS agnostic) , Windows 8 , Windows 10

9 Reviews of SoftCo AP Automation

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  • Colm from Grafton Merchanting RoI

    November 2017

    Excellent product, does what it says, capable of handling large volumes and workloads

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    It is a full out of the box package offering a complete end to end solution, but is highly customable so we could adapt it to our specific business needs.

    Softco understood our requirements and provided invaluable expertise in setting up the optimum solution.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Jimmy from C&C Group

    Number of employees: 501-1,000 employees

    October 2017

    Great product to improve office automation

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Ability to manage AP for multiple companies in one office

    Pros

    Nothing gets lost, full traceability of every stage in invoice processing from receiving the suppliers invoice right through to approval and payment.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Anne from Capita Customer Solutions

    Number of employees: 501-1,000 employees

    October 2017

    Good product,easy to use,streamlines processes but it is expensive to maintain and upgrade

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Cost savings Tracibility of invoices throughout the p2p cycle

    Pros

    Reduces human touch points
    Receipt of electronic invoices
    Rejection back to suppliers
    Visibility of invoices at every point in cycle

    Cons

    Expensive to make changes or upgrade product
    Automatic verification could be better
    Post project support could be better to ensure we are happy

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • David from PwC

    Number of employees: 1,001-5,000 employees

    October 2017

    A successful project implementation, delivered on promises and created a positive user experience.

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    We automated what is traditionally a heavily paper based and manual process through the implementation of user friendly software. All actions are now taken electronically and there is no paper in sight. We improved the process with the introduction of a pre-approval step so costs are more easily controlled and budget holder awareness is guaranteed before any commitment to spend. Our AP team now spend more time managing supplier accounts through the review of statements and significantly less time manually processing invoices.

    Pros

    The software is highly configurable which enables you to self administrate and customise to meet your business requirements as they evolve. The system is very easy to navigate from a user perspective so the training and implementation process can be supported with basic demos and QRGs.

    Cons

    As a system administrator the softwares configurability encourages core users to suggest change requests quite often. Not a fault of the system but a challenge for the administrators.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Liam from CL

    Number of employees: 1,001-5,000 employees

    October 2017

    Extremely professional, hands-on integration project team who add value rather than just implement .

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    System driven approvals, audit trail = major control positives.
    Seamless interface with Accounting system (SAP).
    Ease of use for volume users.
    Prompt helpdesk resolution.
    Standardisation of approvals / payment processes across large , multi divisional organisations.

    Cons

    Bespoke / Automated Reporting Capabilities need to be improved / made more user driven.
    Dosent always give Senior Management the KPI / Dashboard information that proves how powerful the product is.
    Current version is restrictive in some regards - screen resolution / cursor missing issues, which while not major, cause irritation to users and thus damage the products image.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Pat from Irish Mainport Holdings

    Number of employees: 201-500 employees

    October 2017

    Easy to use, easy to implement, flexible, easily integrated. Excellent investment.

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Paperless filing at its very best; everything you would expect is delivered.

    Pros

    Softco excels in a multi company environment. It is simple to find historical information irregardless of how many companies are on the system. Love the integration with our accounting software.

    Cons

    Can't open on two screens at the same time. Display boxes for account codes could / should be larger.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Bill from William Tracey Group

    Number of employees: 201-500 employees

    October 2017

    SoftCo implementation team always delivers and the product (especially the new version) is excellent

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Moved from paper based to online PO's with significant reduction in staff levels in purchase ledger and almost 100% compliance with payment terms. Much better control of release of payment runs.

    Pros

    The product is very easy to use with new in-email approval a huge step forward.

    Visibility of spend and tracking versus budget is a great feature.

    GRNI accrual for the finance team is easy.

    Easy to raise POs, so no excuses.

    Easy to change routing of approval if a PO has a particular need for customised approval.

    We use verify (as an option in addition to approve) to ensure that costs coded to particular account codes are reviewed as appropriate to that code before the PO is approved, e.g., Capex.

    Cons

    Not cheap, we are a waste management business not a bank, but we have found it good value for money.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Imelda from Primark

    Number of employees: 10,000+ employees

    October 2017

    We had an excellent experience both with the vendor and the software

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    This software completely transformed our transaction processing capabilities and allowed straight through processing

    Pros

    Easy to use, fast, efficient, introduced transparency, and completely transformed our transaction processing capability

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Brian from Grafton Group Plc

    Number of employees: 1,001-5,000 employees

    October 2017

    Very positive experience. Should have done it sooner. Year 1 return on investment.

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Year 1 return on investment. Easy to use for staff at all levels, reduced processing times as well as full visibility over all invoices on the system. There were of course some teething issues but SoftCo were always on hand to address these straight off and ensure the implementation went smoothly.

    Pros

    The number 1 thing I like is that the software is easy to use for all levels in our organisation. This ensured that the buy-in from our staff was gained straight away and they could see that it made their jobs easier. The results have been great too. We have achieved a straight-through processing match rate of 75% of all invoices and increased the capacity of our AP team by more than 50%. By automating our AP process, we have reduced our labour costs despite handling an increasing volume of invoices (over 300,000 per annum). We also now have complete visibility over all our invoices in the system which helps greatly at month end.

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
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