Overview
What is SoftCo AP Automation?
SoftCo Accounts Payable Automation processes supplier invoices electronically from capture and matching, to invoice approval, query management and payment. The solution manages all PO and non-PO vendor invoices. All invoices are captured using SoftCo’s Data Capture technology or via SoftCo’s…
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Product Details
- About
- Competitors
- Tech Details
What is SoftCo AP Automation?
SoftCo Accounts Payable Automation processes supplier invoices electronically from capture and matching, to invoice approval, query management and payment. The solution manages all PO and non-PO vendor invoices. All invoices are captured using SoftCo’s Data Capture technology or via SoftCo’s outsource data capture service.
The dynamic matching engine handles 2-way and 3-way and AI Smart Matching to match invoice data to purchase orders and goods receipt notes. SoftCo Accounts Payable Automation assigns non-PO invoices to an automatic general ledger and cost center through posting templates that are associated with vendors. For recurring invoices, such as subscriptions, leasing, rent and utilities, the solution automatically matches them to underlying contract PO, and routes them for appropriate approval, without the need for supporting POs or GRNs.
SoftCoPay provides a centralized, secure channel for all vendor payments through one single payment file. The process, from receipt of invoice to vendor payment, delivers control and transparency with straightforward reconciliation through the ERP and a fully auditable payment process.
SoftCo’s automated approval workflows ensure that invoices are routed to the relevant approvers. Approval notifications and reminders ensure that notifications are actioned efficiently. The process of approving invoices is accelerated via signoff by e-mail or the mobile app.
SoftCo AP Automation Features
Accounts Payable Features
- Supported: Vendor Management
Payment Management Features
- Supported: Electronic Funds Transfer
Additional Features
- Supported: Aging Tracking
- Supported: Approval Process Control
- Supported: Audit Trail
- Supported: Data Extraction
- Supported: Duplicate Payment Alert
- Supported: Fraud Detection
- Supported: Invoice Processing
- Supported: PO Reconciliation
- Supported: Purchase Order Management
- Supported: Recurring Payments
- Supported: Reporting/Analytics
- Supported: Billing Portal
- Supported: Mobile Payments
- Supported: Multi-Currency
- Supported: Online Invoicing
- Supported: Online Payments
- Supported: Payment Processing
SoftCo AP Automation Competitors
SoftCo AP Automation Technical Details
Operating Systems | Windows, Linux, Mac, Web-Based, Chromebook, Android, iPhone, iPad |
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Mobile Application | No |