Field Materials launches Construction Material Pricing Intelligence

Article content provided by Field Materials.

Field Materials AI has launched Pricing Intelligence – the newest module as part of its construction procurement software suite. In light of tariffs and material price volatility, construction companies are facing the risk of diminished margins. They need tools to monitor and lock in construction material prices so that their planned project budgets are met.

The new Pricing Intelligence module is a real-time dashboard with up-to-date prices of all materials and equipment that a contractor buys throughout the year. The dashboard shows how prices fluctuate for each material and predicts how much contractors can save by locking in prices with suppliers.

Given tariffs and the resulting price volatility, Field Materials AI's Pricing Intelligence module is a strategic tool that could help us monitor material prices, identify potential savings, and protect our job margins – says Javier Lucatero, President of Accurate Firestop, based in Pleasanton, CA.

The primary users of the dashboard are C-level executives, owners, and purchasing managers at construction companies. Today, they normally create lump sum POs in their accounting software to track job cost commitments. Such POs have no details about what materials are being purchased, at what volume and what prices. This makes it impossible for contractors to see which materials are purchased across different jobs or track how material prices fluctuate throughout the year.

That's where Field Materials AI comes in. It reads vendor quotes and invoices, extracts individual material prices, and tracks how they change throughout the year. Construction executives can use the real-time dashboard to track all material purchase volumes and prices and use this data to negotiate volume discounts with their suppliers. In addition, when bidding on or starting a new job, they can lock in volume buyouts for the estimated materials for the job that are likely to fluctuate in price. The dashboard also identifies which materials are best to stock in their warehouse based on their purchase volume and price volatility.

"A growing number of customers come to us organically looking for the capabilities Field Materials AI provides. A big part of this interest is their need for visibility into construction material prices. Pricing Intelligence empowers contractors to stay ahead of the competition." - Eldar Sadikov, CEO and Co-Founder of Field Materials AI.

About Field Materials AI

Field Materials is the leading AI procurement platform for construction. Its web and mobile apps streamline material purchasing and equipment rentals, inventory management, and prefab operations. Its platform seamlessly integrates with all major construction ERPs, eliminating manual data entry for purchase orders, invoices, packing slips, and receipts, and saves 5-10% in material costs. Customers across 12 construction trades, 30 US states, and 4 countries trust Field Materials to process >$700M in material purchases annually. Founded in 2022 by serial entrepreneurs with successful exits, the company has raised ~$19M in venture capital and grew 3x in the last year. For more information, please visit www.fieldmaterials.com.

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Field Materials is the world's first material purchasing software powered by AI. Our web and mobile apps streamline contractors' material procurement from analyzing quotes to managing orders and deliveries to the construction site. We help contractors cut 90% of PO processing time and save 5-10% in materials costs by auto-verifying invoices against POs