Real-time control in the construction industry: How to link invoices directly to project costs

The challenge: Manual follow-up and lack of overview

In the construction industry, precise cost control is crucial for a successful project. Yet many controllers and project managers struggle with the time-consuming and manual process of linking supplier invoices to the right project. The result? Delayed insight, increased risk of budget overruns and a constant struggle to keep up-to-date information.

Manual coding and follow-up can easily create bottlenecks that are felt throughout the organization. Without a system that gives you an overview in real time, it becomes challenging to stay ahead and make good decisions. Have you experienced the frustration of having to report project status based on outdated figures?

The solution: Automated invoice linking for full control

Imagine an everyday life where every invoice is automatically recognized, checked and linked to the right project and cost category - the moment it is received. This is not as far-fetched as you might think.

By automating the link between purchasing, invoicing and projects, you eliminate manual work and human error. You get a clear and always up-to-date overview of project costs, giving you the best tools to manage your finances safely and efficiently.

How it works in practice with Compello

The core of the solution is to link all costs to a purchase order (PO). When a project manager orders goods or services, a purchase order is created and marked with the correct project number.

When the supplier sends the invoice, Compello takes care of the rest:

• Automatic receipt and interpretation: The system receives the invoice, regardless of format, and reads all the necessary information.
• PO matching: Using PO matching rules, Compello automatically compares the invoice against the original purchase order.
• Direct cost posting: When the system finds a match, the cost is immediately and automatically linked to the correct project in the financial system.

This process ensures that all costs are pre-approved and budgeted for, while providing a real-time overview of spend in each project.

The benefits of real-time control in your construction projects

Implementing such an automated solution delivers immediate and measurable benefits:

Better decision-making

With up-to-date figures at all times, project managers and management can make faster and more informed decisions. If you discover that an area is about to go over budget, action can be taken immediately - not weeks later.

Increased efficiency and reduced costs

Free up valuable time for finance and project managers. Time previously spent on manual coding and chasing information can now be spent on value-added analysis and project follow-up.

Reduced risk of errors and budget overruns

Automatic matching minimizes the risk of incorrect postings and double payments. You get a robust control that ensures that all invoices are correct and in accordance with the agreement before they are paid.

Take the step towards a more predictable project economy

Linking invoices directly to project costs in real time is a critical step in achieving full control and predictability in construction projects.

With Compello, your company can streamline invoice management from a manual time thief to a strategic advantage. The result is better control, lower costs and more successful projects.

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