Subcontractor Invoice Reconciliation Platform
Why This is an Opportunity
The broken workflow is in the manual matching of invoices to completed work, often leading to financial discrepancies. By automating the reconciliation process, the app provides a platform to link subcontractor invoices with completed work, simplifying verification and accountability.
Key Pain Points
- •Current process requires manually matching invoices with project phases
- •Existing tools don't automate invoice verification against work completed
- •No way to quickly identify discrepancies between invoiced and actual work
- •Have to toggle between project management software and spreadsheets
- •Manual matching process takes hours per project when it should be swift
Original Discovery
In construction, reconciling invoices from subcontractors against work completed is critical yet cumbersome. Currently, project managers use spreadsheets to manually match invoices to work phases, leading to errors and disputes. A web app that enables automated matching and reconciliation of invoices with project milestones could substantially reduce errors and time spent in verification.
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