Scoro acquires Envoice to close the project cost visibility gap

Estonian-founded project management platform Scoro has acquired AI-driven expense and bill management company Envoice, addressing a long-standing fragmentation issue in professional services. This strategic move aims to bridge the critical gap in project cost visibility, enabling businesses to gain real-time insights into their margins rather than relying on delayed month-end reporting. The combined entity promises to offer a more efficient and automated approach to managing project-related expenses. The acquisition integrates Scoro's robust project, budget, time, and resource management capabilities with Envoice's AI-powered bill and expense automation. This synergy allows for the immediate capture and linking of receipts to specific projects and purchase orders, enhancing the speed and reliability of project cost reporting. While both platforms will continue to operate independently, their integrated functionalities will provide professional services firms with unprecedented real-time profitability insights. This development is particularly significant in an era characterized by razor-thin margins and intense competition, where AI is increasingly disrupting the very services these firms offer. By ensuring that no cost goes unlogged, the combined offering fulfills a vision of an AI-powered future where repetitive manual tasks are automated, optimizing the entire project lifecycle from planning and delivery to comprehensive financial control. Further enhancements are planned to fully automate data exchange between the two products.