AP Automation for Construction
Build Better Supplier Relationships
In the dynamic world of construction projects, efficient financial operations are key to maintaining smooth production and fostering growth. The integration of AP Automation for construction redefines this critical aspect, converting the conventional accounts payable workflow into an optimised, high-performance process marked by precision and rapidity.
Leverage the benefits of automated construction invoice processing to accelerate your invoice management while simultaneously cultivating exceptional value in your construction accounts payable software, enriching supplier relationships, and gaining deeper financial insights.
Automated Invoice Processing for Construction Sector
2 or 3 Way PO Matching
Enables efficient PO invoice processing through intuitive matching, streamlining the tracking and approval of purchase order-related invoices.
Automated Coding
Handles ad-hoc non-PO invoices with a robust process that minimises manual data entry and errors through automated coding, ensuring accurate processing and categorisation.
Invoice Analytics Dashboard
Provides real-time insights into invoice data, offering actionable intelligence for better decision-making and strategic financial management.
Self-Service Supplier Portal
Empowers suppliers with tools to manage their invoices, enhancing communication and streamlining the accounting processes between businesses and their suppliers.
Supplier Statement Reconciliation
An interactive feature for error-free reconciliation, ensuring accurate spend control and financial integrity.
Intelligent Data Extraction & Easy Capture
Utilises Machine Learning and AI for automatic and accurate data capture from invoices, facilitating touch-free processing and significantly reducing manual efforts and errors.
Enhanced Communication & Approval
Allows for direct on-invoice communication, enabling faster review, approval processes, and accountability, while effectively reducing processing bottlenecks.
Advanced Invoice Tracking
Ensures efficient invoice management through sophisticated tracking features, including automatic notification reminders and prioritization of urgent invoices
Audit-Ready System
Creates a compliant environment ready for both internal and external audits by providing searchable access to any invoice and its accompanying details, ensuring compliance and transparency.
Elevating Construction Project Efficiency with Automated AP Solution
- Efficiency & Time Savings
- Cost Reduction
- Compliance & Fraud Prevention
- Vendor Relationships
- Visibility & Control
- Scalability for Growth
Automating Invoice Processing
Kefron AP digitises the entire invoice process, significantly reducing the time needed for data entry, verification, and processing of invoices. It automates repetitive tasks, allowing finance teams to focus on more strategic work.
Lowering Invoice Processing Expenses
By automating invoice processing, Kefron AP lowers the cost per invoice processed. This reduction arises from minimising manual interventions, reducing errors, and accelerating the invoice lifecycle, which together contribute to lower overall operational costs.
Maintaining Audit Trails
The system maintains detailed audit trails for every invoice processed, enhancing transparency and accountability. This supports compliance with financial regulations and aids in identifying discrepancies that could indicate fraudulent activities.
Ensuring Timely Payments
By streamlining the invoice approval and payment process, Kefron AP ensures timely payments to vendors, enhancing trust and relationships. The system’s efficiency can also lead to opportunities for early payment discounts, further benefiting the organisation.
Real-Time Invoice Monitoring
Kefron AP provides 360° visibility of the invoice processing workflow, enabling finance leaders to monitor the status of invoices in real-time. This increased transparency allows for better cash flow management and strategic financial decision-making.
Adapting to Business Expansion
The solution is designed to be scalable, accommodating increasing volumes of invoices as the business grows. This flexibility ensures that the AP process remains efficient and effective, regardless of the company’s size or invoice volume.
Did you know?
Making the right choice in invoicing automation software is essential.
It brings unparalleled savings up to
99%
touch-free
processing
67%
quicker invoice
approval
46%
faster invoice
payments
Advanced AP Automation for Construction
Ready to learn more how Kefron AP enhance construction financial processes though advanced AP Automation?
How AP Automation Works?
Invoice Capture
Auto-upload paper invoices & e-invoices. Kefron AP reads and extracts required invoice fields.
Process
Auto-distribute each invoice to PO or Non-PO workflows for processing
Approval
Custom workflows auto-direct to pre-determined approvers via in-app notifications
Post to ERP
Clean Validated data posted to ERP system. Access invoices anytime with keyword search & retrieve
Integration with Your ERP for Construction Finance Excellence
Kefron AP seamlessly integrates with leading ERP systems, boosting the automation of financial processes in construction projects.
Our specialised success team guarantees a hassle-free integration with your construction accounts payable software, facilitating a smooth transition into AP automation for construction projects.
FAQ
What is AP automation for Construction?
AP automation for construction refers to the use of automated construction invoice processing systems designed to streamline accounts payable operations in the construction industry. These systems enhance efficiency, reduce errors, and save time by automating financial transactions and documentation workflows.
How does automated construction invoice processing work?
Automated construction invoice processing uses software to capture, organise, and manage invoice data automatically. The process includes scanning invoices, extracting relevant data, matching invoices to purchase orders, approving payments, and updating financial records, all with minimal human intervention.
How does AP automation benefit construction projects?
AP automation for construction projects offers numerous benefits, including improved invoice processing speed, enhanced accuracy, reduced paperwork, better compliance with industry regulations, and improved supplier relationships. It allows construction firms to focus more on core project activities rather than manual financial processes.
Is AP automation for construction projects cost-effective?
While the initial setup of AP automation systems may require an investment, they are generally cost-effective in the long run. By reducing manual labour, minimising errors, and streamlining payment processes, these systems can lead to significant cost savings and improved financial health for construction projects.
How can I ensure a smooth transition to AP automation in my construction company?
To ensure a smooth transition, choose a construction AP automation solution that offers robust support and training resources. Engage with the vendor’s success team for a tailored setup process, and ensure that the system is compatible with your current construction accounting system. Additionally, involving your financial team early in the transition process can help address any concerns and ensure user adoption.
Ready to transform your manufacturing AP processes?
Book a demo and learn how your business can benefit from AP Automation
- Calculate % of current process that can be automated touch-free
- Identify bottlenecks in your current process
- Calculate your first year ROI
- Tailored demo to your AP Processes
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