Speedchain Says AI Receipt Agent Cuts Construction Close Time by Up to 95%

Oct 7, 2026
Speedchain says its AI Receipt Agent collects and codes receipts through text messages, with one customer reporting a 95% reduction in month end close time.

Speedchain says in a press release that its AI Receipt Agent cut month end close time by as much as 95% for a construction customer. The tool collects receipts through text messages, extracts the vendor, amount and job cost details, then matches each receipt with the correct transaction and project code.

Marcus Construction reported a 95% reduction in the time its accounting team spends on month end close. G&H Contracting reported a 50% reduction in expense entry time and projected annual labor savings of more than $40,000.

The agent is part of Speedchain's financial platform for construction companies. It creates expense records without manual data entry or traditional expense reports from field employees.

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