SoftCo AP Automation
About SoftCo AP Automation
SoftCo AP Automation Pricing
Please contact SoftCo directly to get detailed pricing. The tiered Pricing Model is based on annual invoice volume levels starting at 15,000 invoices per annum. Mobile App - access anytime & anywhere. Customer Support. Anti-Fraud Technology. Seamless ERP integration. Realtime Data insights. Working Capital management.
Starting price:
$0.01
Free trial:
Not Available
Free version:
Not Available
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Most Helpful Reviews for SoftCo AP Automation
1 - 5 of 20 Reviews
Bill
Verified reviewer
Environmental Services, 201-500 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed October 2017
SoftCo implementation team always delivers and the product (especially the new version) is excellent
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.
PROSThe 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.
CONSNot cheap, we are a waste management business not a bank, but we have found it good value for money.
Carlin
Automotive, 1,001-5,000 employees
Used daily for less than 6 months
OVERALL RATING:
4
EASE OF USE
4
VALUE FOR MONEY
4
CUSTOMER SUPPORT
5
FUNCTIONALITY
4
Reviewed September 2023
Hydro-Gear's Review of SoftCo
The AP team has settled into a routine and we have seen a significant drop in workload. It was very difficult early on, but we are overall happy with the product now and are continuing to find ways to improve and develop metrics that work for us.
PROSAccess to information all in one placeThe matching function is accurate and immediately beneficialAbility to route easily for approvals, confirmations, etc...
CONSReadSoft/Capture - throughout implementation, we were very focused on the SoftCo product. When it came to understanding the ReadSoft portion, we were generally told to trust that the system would learn what to do. When we have issues with capture, it is difficult to get black and white answers from SoftCo and to understand exactly what can be done to improve the success. There aren't many views where the coding is viewable.BOL matching was not in place when we started implementation, which we were under the impression was standard. The intuitiveness could be improved for what business users need to do - i.e. folder views with the # in parentheses is unclear, the order of operations that need to be taken to go from details to coding, when there is a balance it isn't clear that users can't approve/move on because of that (the balance in RED is not very noticeable at the bottom of the screen).
Reason for choosing SoftCo AP Automation
Garret Pearse was very convincing with his demos and with his feedback on how SoftCo could deal with most of our issues. [sensitive content hidden] was very attentive and responsive. SoftCo's system looked very intuitive and sleek compared to the other products. Their presentation materials were very professional and useful to understand what they were providing.
Sue
Retail, 51-200 employees
Used monthly for less than 12 months
OVERALL RATING:
3
EASE OF USE
3
VALUE FOR MONEY
4
CUSTOMER SUPPORT
3
FUNCTIONALITY
3
Reviewed September 2023
Softco Review
Team was top notch. Sales and implementation.
PROSIt provides our AP team with a tool for better and faster processing of their invoices.
CONSCouple glitches with integration with our ERP.
Reason for choosing SoftCo AP Automation
Best fit for our AP team needs.
Nikki
Electrical/Electronic Manufacturing, 51-200 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed June 2022
Highly Recommend SoftCo
We implemented an AP automation solution to avoid hiring a second AP person. We chose SoftCo because of it's functionality and straightforward user interface.
PROSSoftCo is user friendly and achieves our internal controls requirements for 3-way matching and invoice approvals. It also provides visibility on unapproved invoices for accruing at month-end. Searching for invoices is easy with multiple options to search by as well as monitoring unapproved invoices for following up with approvers to ensure vendors are paid on-time. The invoice capture software is accurate and learns the layout of each vendor's invoice. SoftCo support responds within 24 hours and tickets are resolved quickly.
CONSReporting could be better as it focuses on unapproved invoices, rather than all invoices. The invoice capture software crashes occasionally, but works again after it's restarted, which is very quick.
Reason for choosing SoftCo AP Automation
Better functionality, easier to navigate and integrates well with our ERP system.
Brian
Building Materials, 1,001-5,000 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed October 2017
Very positive experience. Should have done it sooner. Year 1 return on investment.
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.
PROSThe 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.