Speedchain, which sells a commercial credit card and spend platform built for contractors, said on October 7, 2026, that customers using its AI Receipt Agent have cut month-end close time by as much as 95%. The agent handles the receipts behind company card purchases. Those receipts feed job cost, and Speedchain aims the agent at the month-end work of matching them to card charges.
What it does
The work starts at the supply house counter. A foreman or superintendent buys material on a Speedchain card, and the platform sends a text asking for the receipt. The cardholder replies with a photo.
The agent reads the vendor and the amount from the image. Speedchain says it also extracts job cost details, matches the receipt to the card transaction, and suggests the project and cost code. The cardholder confirms the coding with one tap, and the transaction moves to an approver.
Approved transactions sync to the contractor’s accounting system. Speedchain’s website names Sage, QuickBooks, Viewpoint and Acumatica as the systems it works with. A comment from Fite Building Company on the site says the Sage 300 integration lets the company track card spend against its own job cost codes.
Field employees who carry cards answer the texts, and Speedchain says they no longer file traditional expense reports. AP and project accounting staff review the coded transactions and close the month. The card itself carries spend controls set by an administrator, and the website says purchases outside those rules get stopped at the counter.
Evidence so far
The evidence so far is Speedchain’s October 7 press release, which quotes two customers, and the testimonials on Speedchain’s website. These claims come from the release:
| Claim | Figure | Who reported it |
|---|---|---|
| Time Marcus Construction's accounting team spends on month-end close | Down 95% | Taylor Marcus, CEO of Marcus Construction, in Speedchain's release |
| Time G&H Contracting's accounting team spends on expense entry | Down 50% | Joseph Shepherd, CFO of G&H Contracting, in Speedchain's release |
| Projected annual labor savings at G&H Contracting | More than $40,000 | Joseph Shepherd, in Speedchain's release |
| Share of field coding that is inaccurate and needs rework by finance | More than 70% | Speedchain, citing contractors it calls leading |
The two customer figures measure different tasks. The 95% applies to the month-end close at Marcus Construction, according to its CEO, Taylor Marcus. The 50% applies to expense entry at G&H Contracting, and the $40,000 is a projection of G&H’s combined labor savings for a year, according to its CFO, Joseph Shepherd.
The release gives these reductions as percentages. The hours behind them, the card volume at each company, and the share of receipts the agent codes correctly without a person editing the suggestion are not yet public.
Speedchain attributes the 70% figure to contractors it describes as leading ones. Its website describes the problem in plain terms: when nobody in the field knows the job number, the charge lands in overhead and inflates costs on the next bid. A charge coded to the wrong job also moves cost to date on two jobs at once, and cost to date drives percent complete on a work-in-progress schedule.
How to measure it on your projects
Track accounting minutes per card transaction at month-end. Count the hours AP and project accounting staff spend collecting card receipts, coding or recoding card charges, and reconciling the card statement to the ledger, from the statement date until the books close. Convert to minutes and divide by the number of card transactions in that period, so a busy month and a slow month compare fairly.
Capture the baseline before a pilot:
- Have AP and project accounting log card work to a separate time code for two closes.
- Count the card transactions in each of those months from the card statement.
- Count the transactions accounting moved to a different job or cost code after the field first coded them. Divide by the total to get a recode rate, which lets you test Speedchain’s 70% figure against your own books.
- Record the calendar days from the statement date to the close.
During a pilot, keep the same time code and log every agent suggestion that a person changed before approval. The share of suggestions changed is the agent’s error rate on your cost code structure. The gross margin fade report is a second place to watch, since miscoded material shows up there as cost moving between jobs.
A first step is to pull last month’s card statement for one division and count the charges that were recoded after they were first entered.
Availability and cost
Speedchain sells the AI Receipt Agent as part of its card and spend management platform for contractors. Its website lists no prices and starts sales with a demo request. The release says customers also get access to global and industry-specific rewards and discounts through a program called Speedchain Advantage.