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SoftCo Procure-to-Pay

Name: SoftCo Procure-to-Pay
Rating: 4.5 (2 reviews)

By SoftCo Group Ltd.

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Highlights : About SoftCo Procure-to-Pay

Contract Management

Requisition Management

Supplier Management

Invoice Processing

Receiving/Putaway Management

About SoftCo Procure-to-Pay

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 Procure-to-Pay facilitates the creation of product catalogs, requisitioning, and PO generation for indirect spend. The solution’s AP Automation module 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 Procure-to-Pay provides role-based dashboards to CFOs, finance managers, and accounts payable, and automatically generates detailed spend analysis, and accruals reports. Optional modules include SoftCo Supplier Portal and SoftCo Contract Management.

Specifications

Business Size

Small

Deployments

Cloud

Language Support

English

Platforms

Product Details

Features

Catalog Management

Invoice Processing

Contract Management

Purchase Order Management

Receiving/Putaway Management

Requisition Management

Spend Management

Supplier Management

Benefits

Supplier Relationship Management

SoftCo Supplier Relationship Management enables procurement and AP teams to establish and maintain a strong supplier base. Organizations can onboard, manage, and communicate with suppliers via an easy-to-use portal.

e-Procurement

SoftCo’s e-Procurement platform offers the purchaser everything that they need to buy compliantly, only from preferred suppliers, and without any friction. Organizations can control spend by purchasing compliantly from pre-approved suppliers.

Invoice Data Capture

Easily capture and store all paper, PDF, and electronic invoices in one place. Capturing the data into electronic format reduces the risk of human error and time spent processing invoices.

Invoice Matching

SoftCo automates 2 or 3-way invoice matching against POs, goods receipt notes, and master data delivering up to 80% straight-through processing of invoices. Exceptions and duplicate invoices are flagged ensuring that duplicate payments do not occur.

Invoice Approval Workflow

SoftCo Invoice Approval Workflows ensure that invoices are processed according to your organization’s pre-configured approval matrix and hierarchy. Exception invoices are automatically sent to authorized approvers for verification.

ERP Integration

SoftCo Procure-to-Pay integrates seamlessly with all major finance systems, databases, and ERP systems. ERP integration results in increased processing speed, full visibility, and the provision of accurate data for better reporting and decision-making.

Spend Analytics

SoftCo gives finance leaders full control and visibility over the entire P2P process. Management can maintain full visibility with detailed spend, accruals, budget, and KPI reporting on procurement, accounts payable, and supplier management progress.

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