Accounts Payable in Property & Construction

accounts payable property construction

August 18, 2023

Simplifying Accounts Payable in Property & Construction: A Game-Changer in the Industry

In the fast-paced property & construction industry, staying organized and efficient with expense management can be a daunting task. Commercial construction through to property development companies often find themselves grappling with enormous amounts of receipts, invoices, and expenses, making it challenging to keep track of financial data accurately, especially when it comes to multi-entity and multi-currency assets. Forpoint have solutions encompassing all financial aspects and automation but today, we’ll talk about AP Automation, a machine learning, expense management software designed specifically for accounts payable. We’ll explore how our softwares are  revolutionising expense management and streamlining financial processes, making it an indispensable tool for property industry professionals.

What is Ap Automation?

Accounts Payable Automation comes as a cloud-based expense management software tailor-made to cater to the complex needs of property & construction finance management. Its cutting-edge features provide a seamless solution for recording, categorizing, and analyzing expenses, helping property & construction CFO’s stay on top of their financial game.

The Power of Automation

One of the most significant advantages of Forpoint’s software solutions are our automation capabilities. In the case of AP Automation, Traditional expense management methods often involve manual data entry, leading to errors and wasted time. With our software, tasks such as scanning receipts, extracting information, and categorizing expenses are automated using advanced machine learning algorithms. This not only minimizes the risk of human errors but also allows CFOs to focus on more strategic aspects of their work.

Integration with Existing Systems

Forpoint Solutions understands that property & Construction CFO’s may already be using various software for different aspects of their business, such as project management, CRM, or property management systems. To ensure a smooth experience, Forpoint seamlessly integrates with popular platforms, avoiding duplication of data and reducing the chances of discrepancies. The software acts as a centralized hub for expense management, making financial data easily accessible and facilitating informed decision-making.

Real-Time Insights and Analytics

In the property & construction industry, making informed financial decisions is crucial. Our solution’s analytics and reporting features provide real-time insights into expense patterns, cash flow, and budget utilization. With comprehensive data visualization, CFOs can easily identify trends, monitor spending, and optimize their financial strategies accordingly. This level of transparency and control helps businesses become more agile and adaptable, a vital advantage in the ever-changing property landscape.

Personable Customer Support

In an increasingly digital world, customer support can sometimes feel distant and impersonal. Forpoint has always led with exceptional customer service. The Forpoint team understands the specific needs of CFOs and goes the extra mile to provide support throughout the entire transformation process. We partner with you for the long term as a trusted advisor to your finance department.

Data Security and Compliance

The property & construction industry often deals with sensitive financial information, making data security a top priority. Forpoint takes data protection seriously, implementing robust security measures to safeguard user data from unauthorized access. Additionally, all our software complies with industry standards and regulations, ensuring that all financial data is handled with utmost confidentiality and in accordance with the law.

Forpoint has helped a number of commercial property developers & construction companies automate and streamline their financial teams processes. We’ve been implementing financial software for more than 20 years and our team is built on financial acumen – we know accountants because we are accountants ourselves.

If you are looking for a team to partner with you that can guide you with experience, talk to our team today and see what’s possible.

 

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Products                              Solutions

Sage Intacct                                                  Financial Management Systems

Planful                                                               Forecasting, Planning & Analysis

BlackLine                                                         Financial Close Process

Infor Sunsystems Cloud                         Accounts Receivable Automation

Workday Adaptive                                      Accounts Payable Automation

Zudello                                                             Expense Management

Webexpenses                                               HR & Payroll

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