Consolidating the Cash Flow Picture to Clock a Cost-Effective and Time-Effective Business Operation

Kojo, the construction industry’s leading materials and inventory management platform, has officially announced the launch of Kojo AP (accounts payable), which brings to the fore a suite of features built specifically for commercial construction accounting teams. Built to address the final step in the material management workflow i.e. payments, Kojo AP comes bearing an ability to eliminate many of the manual data entry processes for contractors’ accounting teams. This way it allows them to automatically catch mistakes on invoices, and at the same time, empower vendors to get paid directly in one system. To reach that object in a more practical sense, though, the stated solution lets you seamlessly import vendor invoices and sync payment information into your accounting systems. Complimenting the same is how the product also offers direct invoice integration with all major accounting software. For payments, on the other hand, Kojo AP supports direct integration with Quickbooks and Vista, with plans already in place to bring ComputerEase and Spectrum for the latter category. Talk about the whole value proposition on a slightly deeper level, it is likely to benefit customers in two core ways. For starters, we have the promise of saving time. You see, by streamlining hours of manual data entry, Kojo AP will give accounting teams a massive boost when it comes to improving productivity and optimizing the available resources. Not just that, with the option to pay vendors through one single and secure medium, the stated app is able to provide a more accurate view of the contractor’s cash flow.

“Our customers tell us that getting a consistent, accurate view of their cash flow is a constant pain point. Solving that has been a key priority for us,” said Maria Davidson, founder and CEO of Kojo. “We built Kojo AP to bring all materials-related financial activities into a single system, so accounting teams and executives don’t need to navigate multiple softwares and processes just to pay their bills on time. Now, they can spend more time focusing on the areas of their businesses that drive revenue and growth.”

Apart from time, Kojo AP can also help you save money. This translates to how the platform allows contractors to avail discounts when making a payment, combined with Kojo’s own rebate benefits, therefore generating meaningful savings. Not just that, given the facility it delivers to catch errors, Kojo AP ensures that you don’t lose any money whatsoever due to an invoice error. In case that didn’t sound impressive enough, then we must acknowledge the product’s automation capabilities, capabilities that empower you to eliminate the risks and costs which have long remained associated with using manual checks.

Kojo AP delivers an interesting follow-up to the launch of Kojo’s Automated Invoice Matching solution, which came out last year in March. Even today, there is no tool on the market, except Kojo’s Automated Invoice Matching product, which can digitize every step of a contractor’s materials management process, right from planning to payment, in a single platform. As for its efficiency in doing so, Kojo customers who use Invoice Matching alone are currently processing over $1 billion in invoices with the solution on an annual basis. Markedly enough, the whole picture is only made better by the fact that these users have already saved more than $375,000 on materials since the product’s release.

“We’ve been using outdated processes in this industry for far too long, especially when it comes to paying suppliers,” said Phil Edwards, President at Jamar Power Systems. “With Kojo AP, we have been able to digitize our payments and streamline the accounting process so our same accounts payable team can do their jobs even better.”