Field Materials AI provides construction procurement software that streamlines material and equipment workflows for trade contractors and GCs. The platform uses AI to process quotes, purchase orders, delivery slips, and invoices, automating data entry and validation. This results in reduced processing time, better material cost control, and improved inventory management integrated with existing ERP systems.
Funding
$8.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FOZVFounders
Product
Problem
Construction contractors face significant challenges in manually processing purchase orders and invoices, leading to time-consuming data entry, invoice errors, and backorders. These inefficiencies result in increased material costs and delays in procurement operations.
Solution
Field Materials offers an AI-powered platform designed to automate purchase order and invoice processing for construction contractors. The platform uses AI to scan vendor quotes, automate quote analysis, and streamline cost coding, eliminating manual data entry. By automating 3-way validation and matching delivery slips to POs, Field Materials reduces invoice errors and minimizes backorders. The system integrates with existing accounting software to synchronize POs and invoices in real-time, cutting invoice processing time by up to 90% and enabling users to save 5-10% on material costs.
Target Audience
The primary customers are specialty subcontractors and self-performing general contractors across North America involved in material and equipment procurement.
Features
- AI-powered scanning of vendor quotes to eliminate PO data entry
- Automated 3-way validation of invoices against POs and delivery slips
- Mobile app for requesting materials and uploading delivery slips in the field
- Real-time synchronization of POs and invoices with accounting software
- Automated reminders to vendors to minimize calls and follow-ups
- Tracking of orders, backorders, and delivery issues in one place
- AI-driven detection of invoice errors to prevent overpayment