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SoftCo Celebrates its 33rd Anniversary with New P2P Product Release

Thursday 30th March, 2023

On the 33rd anniversary of its incorporation, SoftCo has announced the latest release of its new Procure-to-Pay (P2P) platform. SoftCo’s solutions automate the procurement and accounts payable process, including the final payment step.

SoftCoP2P encompasses a significant investment over the last 2 years in emerging smart technologies, including AI and Machine Learning. The result is a platform that is leading the market in performance and features along with service guarantees.

Co-Founder of SoftCo, Susan Spence, said; “We are seeing significant revenue growth due to the power of our platform. We have the best matching engine on the market, so we can guarantee that a minimum of 4 of every 5 supplier PO invoices will go ‘straight through’ the process, with no manual intervention whatsoever. This commitment is unique in the market and ensures a huge financial saving for AP teams, double the standard industry savings. SoftCoP2P is a real gamechanger.”

Customers are already achieving straight through processing rates over 90% and substantial savings per invoice processed compared to typical industry norms. The intuitive and powerful UI enables users to resolve exceptions with productivity levels typically only seen with PO invoice processing. Smart Coding reduces non-PO invoice processing times by 93% on average via machine learning, and Smart Routing accelerates invoice approvals using adaptive learning technology, ten times faster than standard solutions. According to a company press release.

The platform achieved the highest independent security rating, in the top 1% of the industry. It features SoftCoPay which automates and optimises the payment process via a secure single workflow for all payment methods resulting in significant cost savings, attractive rebates and enhanced protection against fraud. SoftCoP2P incorporates certified out of the box ERP integrations, is part of the Microsoft Co-Sell Ready Partner program and is available on the Azure Marketplace for Business Central and Finance & Operations. SoftCo adds.

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Avalara

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, eCommerce and other financial management system providers, Avalara delivers cloudbased compliance solutions for various transactional taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Canada, the U.K., Belgium, Brazil, and India.