This brief has been written by **ASK US FOR IDEAS.**
<aside>
💬 “I am looking for somebody who can manage & execute a content strategy across all channels for our company. Purpose is to build pipeline. We are a SaaS business that develop and sell Accounts Payable Automation solutions. Experience in a similar industry I would see as being necessary. Is this something that you can help source? For complete transparency, I am also looking at hiring for the role, however to date have struggled.”
</aside>
<aside>
👤 Daragh Byrne, CMO
</aside>
<aside>
đź”— https://softco.com/
</aside>
<aside>
đź“Ś Dublin
</aside>
Company background
- Established in 1990 and headquartered in Dublin, SoftCo is a fast-growing provider of Procure-to-Pay (“P2P”) and Compliance software. SoftCo’s solutions streamline financial processes, deliver greater control and visibility over spend and reduce the need for manual intervention. SoftCo’s unique machine learning technology offers unrivalled automation rates, and the Company receives the highest customer satisfaction rankings in the industry.
- SoftCo is one of Ireland’s most successful international software companies with global blue-chip customers and operations in the US, Finland, the UK and Ireland. SoftCo has grown to over a million users worldwide with annual recurring revenues growing at over 25% per annum and expected to further accelerate in the coming years.
- Clients include: PWC, The Finnish Government, Lloyds Bank, Volkswagen, Primark, Sunny D, Pernod Richard, SeaSalt, Adnams and Patagonia. 80% of their customer base is in the USA, where there's great opportunity for SoftCo to help streamline financial processes - many businesses in the US are still paying by cheque. Typical clients will be processing over 50k financial documents a year. Their largest client is the Finnish Government who are comprised of 76 departments.
- “SoftCo’s P2P Software automates eProcurement, Accounts Payable, Vendor Management, Payments & Compliance. We achieve unrivaled savings via our Smart Technology and unique AutoML Machine Learning, which is applied across all our solutions. SoftCo delivers 90% straight-through processing for PO invoices and 89% faster processing of Non-PO invoices. We rank highest in independent customer satisfaction surveys and in the top 100th percentile for Security.”
- In March 2024 Keensight Capital acquired SoftCo in a deal said to be worth more than Euros 100m. They have stated they wish to capitalize on its extensive knowledge of the Source-to-Pay sector, a large and fast-growing market characterised by increasing digitalization, and to support SoftCo in its next phase of growth. The management team, led by CEO Anton Scott, is investing alongside Keensight Capital and the partnership will drive further value creation through accelerated expansion into the North American market, continued investments in the technology platform and further leveraging partner channels. George Porteus of Keensight, already in touch with AUFI, recommended that Daragh make contact with us.
Competitors
Project summary