1. Adding invoice details
Digital invoice processing is fast becoming the standard in modern project development because it saves so much time and effort. So transferring invoice details to your digital system shouldn’t be complicated!
When a new invoice comes in, you can simply forward the PDF to a project-specific email address or upload it direct to Alasco. Our automatic text recognition then reads the invoice details and transfers them to the right fields for you.
What if an invoice has already been uploaded? No problem, Alasco recognises duplicates and alerts you.
2. Replacing back-and-forth emails with workflows
Where’s that invoice now? Who’s responsible for checking it? What happens if that person is off sick? When everyone involved in a project works in one system and can access the same information, you don’t have to chase up answers with unnecessary calls or emails.
Instead, Alasco uses pre-defined digital workflows that work like this:
- Alasco assigns the task to the right person. This includes its priority and urgency.
- The assignee marks the task as done. Then Alasco automatically assigns the next person in the process.
- The next person gets a task notification. They complete their task and the flow continues!
You can also store substitutes in the workflow so that invoices and change orders never get missed, even if the responsible person is on holiday or off sick.
Read more
Digital workflows: 4 biggest benefits for construction and real estate companies.
3. Getting an overview of invoice status with task lists and deadlines
If you’re a project stakeholder with admin duties, you need to be able to access accurate project information. Managers and team leaders in particular want a clear overview of the processing status of invoices and change orders, as well as who is responsible for dealing with them and when. Alasco’s Invoice and Change Order lists give team leaders an intuitive, customisable view that shows the status of every invoice or change order and updates automatically. By making this information transparent, project managers always have an overview of discount and payment deadlines, helping them build trust by settling invoices on time.
4. Automatically applying contract terms to the invoice run
With Alasco, you no longer have to manually reconcile contract terms, like insurance or retention, with the invoice to get the right amount. Just add the information once per order and Alasco automatically applies the terms to each individual invoice to calculate the final total. This way, there are no careless mistakes and the final sum is transparent and traceable. All the contract details are available digitally, without having to search.
5. Transferring data to the cost overview
Forget missed digits and typos. In Alasco, all the figures and details relating to invoice items, change orders and revenues appear automatically in the Cost Controlling overview and forecasts. Having this reliable, real-time data at your fingertips means you can make project and business decisions with much more security – one of the biggest advantages of digital project development.
6. Generating reports for different stakeholders
Creating reports is quick and simple in Alasco. The auto-generated Cost Controlling overview has moveable columns that can be added or removed, making it easy to adapt for different stakeholders.
When you’re happy with a view, save it. Then you can switch between set views for your team, managing director and investors with a click.
Want to save and send a report? Click Export to export it as an Excel XLSX file or PDF. Done.
7. Generating cover sheets with check stamps for Accounts
Stamp, responsible stakeholder, date and time. At the end of every invoice and change order audit run, Alasco automatically generates a cover sheet for every invoice and change order with all the details for traceable and transparent auditing. No more printing, stamping or scanning!
Try it for yourself
Want to manage your project finances more efficiently? Book a free consultation with our UK team today.
8. Automating cash inflow and outflow
Alasco’s automatic Cash Inflow and Cash Outflow make budget planning easy. If you’ve planned for £50,000 cash outflow in April, for example, but only release invoices of £30,000, Alasco will automatically allocate the remaining £20,000 to the following months. You only have to store recurring invoices (eg. interest payments) once, then the system generates them automatically every month.
9. Paying invoices & requesting payments faster
Still manually copying and pasting payment details? Now you don’t have to. Alasco recognises approved invoices and automatically deducts any necessary discounts. Click a button and get all the payment details you need in a SEPA export that’s ready to upload to any payment system – to get bills paid in minutes.
As well as paying bills faster, we’ll help you get paid faster too. In Alasco, developers can request multiple as-built payment requests with just a few clicks. The software automatically pulls in all the relevant buyer details, instalment amounts and banking details, then generates the requests for you. No more manually creating batch payment requests.
