Paperless Accounts Payable for the construction industry
Every Australian building or building trades business that grows finds the management of invoices becomes an ever increasing task. We have clients who might previously have been able to provide good service to sales leads or provide proper supervision of their projects become absorbed by the mountain of invoices and the more important tasks suffer as a result. This is an avoidable mistake.
Integrates with Xero
Users of iGyro can take advantage of a paperless invoice management tool which integrates seamlessly with Xero and provides the business owner the following important outcomes:
- The ability to match invoices with a job thereby providing job by job profit tracking.
- The ability for multi user authentication, meaning it requires two users to authenticate and approve the processing of an invoice.
- The ability for approvals to be escalated to management that are outside of predetermined parameters.
- The ability for invoices to be emailed to a dedicated email address and processed using optical character recognition.
Reduce business costs with efficiencies
We have found this software feature when properly implemented helps builders by:
- Reducing invoicing processing labour costs by 30%.
- Reducing the potential for fraud by bookkeeping staff.
- Increasing profitability because individual job profit can be tracked.
- Reducing inefficiencies and creating accountability around the invoice approval task.
The image below shows a sample screen highlighting invoice overruns as compared with job orders.