Construction material management software Kojo has introduced a new solution, Kojo accounts payable (AP), for commercial construction accounting teams.
The solution is a new suite of features designed to optimise the payment process.
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It is designed to eliminate manual data entry and improve invoice accuracy, allowing for direct payments within a unified system.
Kojo AP extends the capabilities of the platform’s Automated Invoice Matching, introduced in March 2023, completing the financial management cycle for contractors.
This also eliminates the need for traditional payment methods such as cheques.
The new suite enables contractors to import vendor invoices automatically and synchronise payment data with their existing accounting systems.
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By GlobalDataKojo AP is compatible with major accounting software and currently supports direct payment integration with Quickbooks and Vista.
Plans to expand Kojo AP’s integration with ComputerEase, Spectrum, and others will occur throughout 2024.
Since February 2024, Kojo AP has undergone beta testing with a select group of existing customers.
The feedback suggests time savings and productivity gains for accounting teams, as well as a more accurate representation of cash flow due to the centralised payment system within Kojo.
Kojo founder and CEO Maria Davidson said: “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.
“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 software 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.”
Kojo is said to be relied upon by more than 25,000 construction professionals managing projects in 48 states across the US.
