The Loop - a newsletter by Coreloops

Coreloops at the construction CFO Summit

In May we sponsored the yearly construction CFO summit hosted by Construction Wave. We had a great time speaking with and listening to finance leaders from across construction.

A recurring theme throughout the day was the lack of access to structured financial data that construction teams need to make informed decisions to increase cash flow and profitability.

From Fragmented to Future-Ready: Evolving Construction Finance with Connected Data

Gabriel, our CEO, joined a panel with Andy Curtin from Construction Wave and Killian McCarthy from Softco to discuss how construction companies can start to take small steps towards connecting their financial data and preparing for the opportunities ahead with AI. We've had a great response from companies who attended on the day and we look forward to working closely with a few to make the transition to a smarter, more connected financial workflows with Coreloops.

You can watch the full recording of the panel session on our YouTube channel here:

Auto-categorise invoices

Our intelligent invoice parser can now suggest the project and cost codes that the cost document should be allocated to. The parser can determine the project by looking for the project name, project ID or address in the document. This works well for invoices that don't have purchase order numbers or specific references to the project. The parser then reads the line items in the document to match them against one of your own internal cost codes

This feature will save finance teams hours of time each week, manually allocating invoices to projects and cost codes. You can simply review and bulk approve several invoices at once.

Purchase Order Summaries

We've updated the purchase order summary in your documents area to give a real-time view on the progress of each of your orders. You can now search, filter and select specific purchase orders and view a quick summary of how much has been invoiced and how much has been paid for the selected purchase orders.

Assign documents to team members

You can now assign documents to specific team members to improve your approval workflow and ensure the right people confirm purchase orders and invoices before sending them to suppliers or making payments. They will receive a notification with a link to the assigned document. They can also click into a queue of documents assigned to them at any point.

If you'd like to learn more about using Coreloops to streamline project financials at your company; please reply to this email, call us on +44 7427 931121 or book a demo with us using the link below.

Best,
The Coreloops Team