Overview
Product Information on SoftCo AP Automation
What is SoftCo AP Automation?
SoftCo AP Automation Pricing
Overall experience with SoftCo AP Automation
“AI-Powered AP Processing Increases Automation but Requires Extended Learning Period”
“Customization/Implementation team is good, but Reporting tools are sub par. ”
About Company
Company Description
SoftCo focuses on providing automation solutions in digital procurement processes. Its P2P software concentrates on eProcurement, Accounts Payable, Vendor Management, Payments, and Compliance. SoftCo's software utilizes AutoML Machine Learning technology, applied consistently across all its solutions. The key business problems addressed by SoftCo include achieving 90% straight-through processing for PO invoices, speeding up processing of Non-PO invoices by 89%, and ensuring 100% visibility over all expenditures. In addition to being utilized widely across North America and Europe, SoftCo's software is tailored to equally benefit varied organizations and businesses.
Company Details
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Key Insights
A Snapshot of What Matters - Based on Validated User Reviews
Reviewer Insights for: SoftCo AP Automation
Performance of SoftCo AP Automation Across Market Features
SoftCo AP Automation Likes & Dislikes
ERP integration - broad spectrum and easy roll out. Very high automation levels - many driven by AI layer - allowed the organisation to achieve substantial automation level increases (over 20% increase compared to the previous tool). Sofistication of the product - allows to overcome complexities of global large organisation - both geographical and process-related.
The Integration team is able to provide customizations that help with our processing of invoices. These customizations are usually provided in very timely manner.
User Interface Speed Pricing
Well, any benefit has it's equivalent - for example, product sofistication mentioned above comes with a relatively extended learning curve. It also results in an interface which is not easy to navigate from day 1. AI capabilities do improve the automation levels, but may result - very infrequently - in some classification errors.
The reporting provided is very poor. There is no way to pull data trends on auto-matching, days on hold, paid on time, etc. When we are looking at invoices in our user's queues for approval, we can't even deep dive. There is one column titled Others which you can't pull. The same goes for Neglected Invoices by Users. Without being able to pull this information there is no way for us to drive our users to complete their tasks. Overall, there should be much more intuitive KPIs and reporting dashboards.
Support Team lack of flexibility Filtering
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Peer Discussions
SoftCo AP Automation Reviews and Ratings
- Solutions Director50M-1B USDServices (non-Government)Review Source
AI-Powered AP Processing Increases Automation but Requires Extended Learning Period
A fantastic tool for large volume AP processing with quite impressive AI component making the touchless processing a not so distant reality. - IT APPLICATIONS MANAGER1B-10B USDManufacturingReview Source
Product Recognized for Strong Support but Room for Improvement Remains
Product is very strong. Account Management team particularly strong - Director of Application Support50M-1B USDConsumer GoodsReview Source
Customization/Implementation team is good, but Reporting tools are sub par.
It seems like the folks who provide support for the product don't know much about the out of the box functionality. Many times support has to escalate the issue or question in order to determine capabilities or answers on the out of the box functionality. Also, the reporting provided is not very helpful with driving improvements or allowing deep analysis of how our Source to Pay group is performing. - SVP of IT50M-1B USDManufacturingReview Source
Great Company and good technology
SoftCo has been very open and sharing of their knowledge. - Global Finance Transformation Snr Manager1B-10B USDHardwareReview Source
A new era for our AP Process with SoftCo
In "safe hands" with a Co. passionate to enable our success