Invoice Capture

SoftCo ExpressAP handles multiple invoice sources. Vendor invoices are collected via a dedicated email address and all traffic is managed by SoftCo ExpressAP.

OnBoarding

SoftCo ExpressAP Onboarding is straightforward via a simple spreadsheet of Financial information and Master Data.  This includes vendor data, user data including approval hierarchy, and coding data with GL and Cost Center information. The data is automatically loaded ìnto SoftCo ExpressAP and you are ‘ready to go’.

Registration & Auto-Indexing

The vendor invoice is registered and all invoice header details are automatically captured. SoftCo ExpressAP incorporates fully automated data capture using OCR and smart validation, replacing manual key entry and index invoices ready for AP coding. Fields auto-indexed include vendor name, invoice number, invoice date, and invoice Net, VAT/Tax Gross values. SoftCo ExpressAP handles all foreign currencies.

Duplicates Alert

Once auto-indexing is completed, SoftCo ExpressAP checks for duplicate invoices to ensure invoices are not paid multiple times.  The system also checks to ensure a valid vendor and valid invoice totals.

AP Coding

The optimized coding process enables the AP team to efficiently code the correct GL and Cost Centre information for each invoice.  Posting models for vendors can be saved for reuse and coding information can be auto imported via spreadsheets.

Routing

Once coding is completed, invoices are automatically routed for approval based on defined approval rules and hierarchies.  Invoices can be emailed for query with associated comments or rejected and returned to the vendor.

Automatic Rejection

If any key fields are missing from the vendor invoice, there is an option to automatically reject the invoice. An automated process returns the invoice to the relevant vendor with the associated reasons.

Approval Workflows

SoftCo ExpressAP delivers an accelerated and secure invoice approval process. Invoices are routed for approval based on a defined approval matrix and limits. Automated email notifications are sent, followed by reminders to prompt approver actions.

Out of Office & Substitution

SoftCo ExpressAP supports ‘out of office’ status ensuring invoices are not delayed being processed.  In addition, ‘substitutes’ are allocated where for example an AP Clerk is on annual leave and the system provides full visibility over the work completed.

Approval Process

Approvers receive a notification email with simple action buttons for ‘approve/reject’ within the email. The email includes the invoice as an attachment and a summary of the invoice.  If the approver rejects the invoice it is automatically returned to the vendor. With SoftCo ExpressAP ‘on-the-go’ email approval, it takes just seconds for verifiers and approvers to progress invoices to the next stage.

Query Management

SoftCo ExpressAP ensures that all invoice queries are actioned immediately. Invoice queries are routed directly to the appropriate user’s email where they respond to the query using email approval or via the SoftCo ExpressAP web app.

Dashboard

SoftCo ExpressAP provides real-time information and visibility of key activities in graphical format.  Bottlenecks relating to specific vendors or users are always visible and promptly addressed.

Status Reporting

Reports and Analytics facilitate better decision-making on real-time information including active invoices by status, invoices by exception reason, invoices awaiting approval by user, invoice by vendor by status and invoices by users and by value.

Output to ERP

SoftCo ExpressAP generates a CSV or XML file for straightforward loading by the AP team into the ERP/Finance System.  The output file includes Invoice header data, coded information, and approvals to facilitate payment.

Vendor Visibility

With SoftCo ExpressAP, vendors track the progress of invoices submitted removing the need to chase payments over the phone or via email. Once an invoice is submitted for a specific purchase order, vendors track its progress through the portal and view its status within the approval process. This process also removes any dangers of duplicate invoices being submitted.

Benefiting Vendors

The SoftCo Vendor Portal also provides significant commercial benefits to your vendors who can submit invoices via the portal, gain visibility of the status of orders and invoices and can addresses any queries, delays, or discrepancies rapidly. The query management module ensures that all queries are captured, actioned and recorded within the system in the event of a dispute.

Fast Retrieval

SoftCo ExpressAP incorporates a secure archive using fast Content Addressable Storage (CAS) providing powerful and rapid search tools for multiple document types with strict access control.  The result is the immediate processing of queries whether internally, from vendors, or in relation to external audit requirements.

Cloud Hosting & Security

SoftCo ExpressAP is hosted in the cloud using Amazon’s Web Services. Amazon is a leading global provider of cloud hosting services with the highest levels of performance and security. SoftCo ExpressAP uses the same infrastructure and security components as the largest environments hosted by SoftCo for Enterprise and Government customers. SoftCo is a certified AWS Advanced Technology Partner and all hosting services are centrally managed by SoftCo’s highly skilled DevOps team.

Regulatory Compliance

The solution incorporates and Digital Fingerprint technology ensuring the authenticity of original, unaltered documents. It provides a full audit trail over the entire lifecycle from initial storage, to search and retrieval, auditing, and reporting, through to the option to digitally ‘shred’ documents at the end of the defined lifecycle. SoftCo ExpressAP is SÄHKE2 certified.