Article content provided by Kojo.
Kojo’s Automated Invoice Matching is now available!
How many invoice mistakes are you paying for? Kojo has collected data from trade contractors across the U.S. and found that 27% of material invoices have errors. This can translate to tens of thousands of dollars in extra project costs that shrink your margins. You need a solution for catching invoice mistakes where the costs don’t outweigh the benefits.
That’s why Kojo is excited to introduce the first ever Automated Invoice Matching solution built specifically for trade contractors.
How Kojo’s Automated Invoice Matching works
Kojo integrates Automated Invoice Matching directly into the procurement process. Before an invoice is issued, the PO was already created in Kojo, and the delivery was logged in the field or warehouse. When the invoice is sent from the vendor, Kojo scans the invoice PDF using Optical Character Recognition technology, and automatically matches the invoice against the PO and delivery receipt - no data entry required. Any issues with the price, quantity, or delivery are highlighted for you to see. Simply send the mistakes back to the vendor with a couple of clicks. Once the invoice is fixed, sync it directly to your accounting system. The whole process is accomplished in minutes, not hours.
"Kojo's invoice reconciliation feature enables our accounting team to verify invoice accuracy without needing to involve the project managers - all the information we need is right there. We can approve invoices faster and it frees up the project managers' time. Our invoice approval process is truly much more efficient for accounting.”
- Cathy Boso, Controller at an Indiana-based electrical contracting company
Now that they have a streamlined process, Kojo’s customers are saving thousands of dollars by catching invoice errors.
“The invoice was for $7,750 and the quote price was $775. It was a $7,000 difference! Without Kojo, our accountant would just go ahead and pay it, but Kojo threw up the red flag.”
-Zach Ratner, Operations Manager at a Colorado-based electrical contracting company
Are you ready to start saving thousands of dollars with virtually no effort? See Kojo’s Automated Invoice Matching in action.
Visit the Kojo website.
Contact Kojo here.
Kojo is trusted and utilized by thousands of construction professionals across the country every day. As the construction industry’s leading procurement platform, enables trade and self-perform general contractors to take control of their margins by consolidating the procurement process onto one, all-inclusive digital platform.
