The smart matching engine tool of SoftCo facilitates express AP processes while the contract matching tool easily matches payments against supplier contracts. This reduces costs and streamlines vendor management by providing full visibility.

The straight-through processing or touchless invoice processing of SoftCo eliminates manual intervention. SoftCo AP software is integrated with contract compliance processes for seamless financial management.Īs an AP software, SoftCo employs modern technologies in ensuring that full AP automation is achieved through the use of artificial intelligence (AI), advanced document understanding (ADU), and deep learning intelligence. This platform also features real-time reporting and analytics, including anti-fraud tools. AP automation forms part of the SoftCo procure-to-pay platform that automates the entire financial process, including eProcurement, accounts payable, and vendor management. This Spend Matters PRO Vendor Analysis gives an overview of the vendor’s platform and services, a brief description of its solution functionalities, a vision of its roadmap, a description of its competitors, plus some key analyst takeaways.SoftCo accounts payable automation software promotes efficient best-in-class AP processing by automating workflows that result in higher savings and lower costs. Precoro sees itself as an “open” company based on the concept that it has a free trial and a visible pricing model, and it allows customers to understand costs before purchasing Precoro all modules are included in the upfront price. Some of its key competitors are Procurify, and ProcurementExpress, among others. Precoro views its main competitors in the status quo of ERP procurement solutions, which have manual procurement processes supported by tools such as Excel, Slack, email, etc.

Precoro targets organizations based mainly in the US and in Europe with 50-3000 employees that have several locations and are in need of a central procurement process. Precoro is a cloud-based procure-to-pay software solution that started within the SME market space and today is gaining traction with some clients in the Middle Market segment.

Procurify competitors