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How to speed up your construction invoicing processes

February 5, 2021

We recently teamed up with our long-standing partner Draycir to deliver an Invoice Recognition module for our market leading Construct for Sage accounting and job costing software.

Since launching this new functionality to customers we have seen more than 50 existing customers sign up for the new module and have already processed a staggering 362,500 invoices through the module.

You might be wondering why this functionality is so popular, well in a nutshell it allows construction businesses to:

  • Speed up their data entry by processing invoices automatically
  • Improve the accuracy of their job costing by automatically matching information from the invoice with the relevant purchase order and contract within Construct for Sage
  • Reduce errors and save time needing to correct nominal data errors, reducing the need to reject and re-process invoices manually

To put the time savings into perspective, it is estimated that companies spend 120 days per year on admin (Source: Sage) and Garner average that the typical cost of processing an invoice in the UK costs between £4 and £25.

It is therefore no wonder that construction businesses are continually looking for ways to automate their processes and the Invoice Recognition module is another piece of the puzzle finance teams face daily, which can be automated with Construct for Sage.

To find out more, please reply to this post or chat to a member of our team over on our website for further information on how Eque2 can help you to streamline your processes, protect your margins and reduce risk within your business with our unique range of solutions for all sizes of construction and contracting companies.

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