Monday 31st March, 2014

Following an historic reliance on manual processing, Mainport Group is pleased to have enabled a finance function transformation by reducing invoice processing time from three weeks to three days. Founded in 1957, the Mainport Group is a leading integrated marine services company involved in vessel ownership, ship agency, loading and off-shore services at several locations worldwide.

The Group employs over 200 staff and works with the world’s largest corporations involved in seismic acquisition and hydrocarbon exploration and development.

The comany embarked on a SoftCo AP workflow solution to take the heavily manual process forward. Mainport’s finance team manually processed over 24,000 trade invoices annually on behalf of 31 global entities within the Group. The process was both labourious and paper intensive which created challenges in visibility and control, resulting in a slow approval processes and delayed payment cycles.

“SoftCo has transformed our AP process,” commented Pat Quirke, Finance Director Mainport Group. “Invoice approval times have reduced from 3 weeks to just 3 days and we now have complete visibility throughout the entire supplier invoice lifecycle.”

Fully integrated with Mainport’s ERP system, Microsoft Navision, SoftCo AP reduces operational costs, delivers complete control and transparency over the AP process and ensures full compliance with legal retention obligations. Available on premise or via a Cloud platform SoftCo AP handles the capture, coding, matching and approval of supplier invoices within the Accounts Payable environment.

“We are delighted that Mainport has joined the 400,000 users globally using SoftCo AP to transform their invoice automation process,” commented Killian McCarthy, Sales Director SoftCo.