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SoftCo AP Automation

SoftCo AP Automation

4.6 (20)
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What is SoftCo AP Automation?

SoftCo AP Automation processes vendor invoices electronically from capture and matching, to invoice approval, query management and payment. SoftCo manages all PO & non-PO vendor invoices. SoftCo works with Customers processing 20k+ invoices p.a. Our dynamic matching engine handles 2-way, 3-way & Smart AI Matching, while automated approval workflows ensure that invoices are routed to the relevant approvers. Approving invoices is accelerated via on-the-go signoff by e-mail or the mobile app.

SoftCo AP Automation Integrations

Sage Intacct logo
Sage Intacct
Clarity Wave logo
Clarity Wave
Infor Cloud ERP logo
Infor Cloud ERP
Dynamics 365 logo
Dynamics 365
NetSuite logo
NetSuite
Smart AutoML Matching
Advanced Analytics
Mobile approval
Some SoftCo Customers
Take the Smart Matching Challenge

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How much is SoftCo AP Automation?

Starting From:
$0.01
  • No free trial
  • No free version
Pricing Details (Provided by Vendor):
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.

SoftCo AP Automation Features

What solutions does SoftCo AP Automation provide?

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SoftCo AP Automation Reviews

Showing 5 of 20 reviews
Overall
4.6
Ease of Use
4.6
Customer Service
4.6

Pros

  • Easy to use, integrated fairly well with our ERP, customer service is fantastic - speedy response time, and helpful folks who are dedicated to getting satisfactory resolutions.

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

Cons

  • We are not fully automated yet so sometimes it gets the wrong vendor or doesn't find the date or invoice number.

  • 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.

Most Helpful Reviews for SoftCo AP Automation

Bill P. avatar
Bill P.
Finance Director
Environmental Services, 201-500 employees
Used the software for: 2+ years
Overall Rating
5.0
Ease of Use
5.0
Customer Service
5.0
Features
5.0
Value for Money
5.0
Likelihood to Recommend
10/10
Reviewer Source
Source: Capterra
October 23, 2017

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

Overall: 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.

Carlin K.
Financial Analyst
Automotive, 1,001-5,000 employees
Used the software for: Less than 6 months
Overall Rating
4.0
Ease of Use
4.0
Customer Service
5.0
Features
4.0
Value for Money
4.0
Likelihood to Recommend
8/10
Reviewer Source
Source: Capterra
September 22, 2023

"Hydro-Gear's Review of SoftCo"

Overall: 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.

Pros: Access to information all in one placeThe matching function is accurate and immediately beneficialAbility to route easily for approvals, confirmations, etc...

Cons: ReadSoft/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).

Reasons 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 M.
Manager of PMO
Retail, 51-200 employees
Used the software for: 6-12 months
Overall Rating
3.0
Ease of Use
3.0
Customer Service
3.0
Features
3.0
Value for Money
4.0
Likelihood to Recommend
8/10
Reviewer Source
Source: Capterra
September 27, 2023

"Softco Review "

Overall: Team was top notch. Sales and implementation.

Pros: It provides our AP team with a tool for better and faster processing of their invoices.

Cons: Couple glitches with integration with our ERP.

Reasons for Choosing SoftCo AP Automation: Best fit for our AP team needs.
Nikki L.
Controller
Electrical/Electronic Manufacturing, 51-200 employees
Used the software for: 2+ years
Overall Rating
5.0
Ease of Use
5.0
Customer Service
5.0
Features
5.0
Likelihood to Recommend
10/10
Reviewer Source
Source: Capterra
June 14, 2022

"Highly Recommend SoftCo"

Overall: 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.

Pros: SoftCo 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.

Cons: Reporting 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.

Reasons for Choosing SoftCo AP Automation: Better functionality, easier to navigate and integrates well with our ERP system.
Brian C.
Finance Director
Building Materials, 1,001-5,000 employees
Used the software for: 2+ years
Overall Rating
5.0
Ease of Use
5.0
Customer Service
5.0
Features
5.0
Value for Money
5.0
Likelihood to Recommend
10/10
Reviewer Source
Source: Capterra
October 23, 2017

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

Overall: 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.