SoftCo AP Automation

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.

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).

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.

Pros

I have really liked the ability to approve invoices from the email. I am aware of most invoices that I will be receiving for approval, so it is super handy to be able to approve those ones through email.I also have really liked the search feature to be able to see where an invoice is at and who we are awaiting on for approval. So that we can prompt those users when necessary.

Cons

I think the smart coding is not working for us quite like we anticipated. The hope is that it will be magical and just do everything we need; but I think this will take a bit more time.

Pros

I loved the AI. Other programs didn't really have it. It was all done in other countries with people manually. I loved the layout and the price was more reasonable and got a lot more than the competitors. I also love that it picks up on duplicate invoices.

Cons

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

Pros

Using the software is a time saver. No need typing invoice information.The matching functionality works great, a big time saver on data validation. I also like the ability to view and track invoices anytime.

Cons

I would prefer to have customizable reports within the application. It is great to have the ability to export data into excel however the user needs to piece together various to be able to get some meaningful information. There are also views that cannot be exported to excel.I wish that there is a page where one can view the status of invoices, all in just 1 page.

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

Cons

I think there is room for improvement on the little things, like how the header values for net and tax amounts aren't linked to the invoice coding rows when you use Smart Code

Pros

Softco excels in a multi company environment. It is simple to find historical information irregardless of how many companies are on the system. Love the integration with our accounting software.

Cons

Can't open on two screens at the same time. Display boxes for account codes could / should be larger.

Pros

Reduces human touch points
Receipt of electronic invoices
Rejection back to suppliers
Visibility of invoices at every point in cycle

Cons

Expensive to make changes or upgrade product
Automatic verification could be better
Post project support could be better to ensure we are happy

Pros

Improved processing of invoices. It helps to match the invoice and get an approval, replaces manual work.

Cons

I could use some more free trials to show it for the new users

Pros

Reliability, scalability, customer service and feature set.

Cons

I have not found nor have users reported and significant deficiencies

Pros

Integration, ease of use and functionality of the product.

Cons

There isn't anything we didn't like about the product.

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.

Pros

The software is highly configurable which enables you to self administrate and customise to meet your business requirements as they evolve. The system is very easy to navigate from a user perspective so the training and implementation process can be supported with basic demos and QRGs.

Cons

As a system administrator the softwares configurability encourages core users to suggest change requests quite often. Not a fault of the system but a challenge for the administrators.

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.

Pros

System driven approvals, audit trail = major control positives.
Seamless interface with Accounting system (SAP).
Ease of use for volume users.
Prompt helpdesk resolution.
Standardisation of approvals / payment processes across large , multi divisional organisations.

Cons

Bespoke / Automated Reporting Capabilities need to be improved / made more user driven.
Dosent always give Senior Management the KPI / Dashboard information that proves how powerful the product is.
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.

Pros

SoftCo AP Automation has an excellent customer service especially in terms of technical expertise.

Cons

It will be more useful if technical support team could solve the problems we face faster.

Pros

It is a full out of the box package offering a complete end to end solution, but is highly customable so we could adapt it to our specific business needs.

Softco understood our requirements and provided invaluable expertise in setting up the optimum solution.

Pros

Easy to use, fast, efficient, introduced transparency, and completely transformed our transaction processing capability

Pros

Nothing gets lost, full traceability of every stage in invoice processing from receiving the suppliers invoice right through to approval and payment.