Skip to content
  • There are no suggestions because the search field is empty.

Latest Updates: app.precoro.com on June 25, app.precoro.us on July 9.

Learn about the latest updates from June.

TABLE OF CONTENTS

Introducing the Contract Agent

No more digging through documents to find out what's coming up or what a contract actually says. Meet the Contract Agent — your AI teammate right inside Precoro that keeps your entire contract portfolio at your fingertips. Just open the page and ask.

Scan a contract instead of typing it in

  • Upload a contract file — or several at once with bulk upload — and let the agent handle the data entry for you.
  • It fills in all the required fields automatically, along with any custom fields you've set up on your contracts.

Get the key points, with the source to back them up

  • The agent generates an AI summary and insights for each contract, surfacing the key points that matter — each one linked back to the exact page or paragraph in the contract, so you can verify it in a click.
  • Have a specific question? Open the Q&A window and ask about any nuance in the contract, and the agent answers based on what's actually in the document.

Your contract overview, front and center

  • The moment you open the Contracts page, the agent opens on the right with a clear summary of your contracts by date — what's expiring, and when — so renewal deadlines never catch you off guard again.
  • It does the heavy lifting once a day and remembers the result: come back later and your overview is right there, instantly, with nothing to wait for.

Ask it anything — across every contract at once

  • Chat with the agent about many contracts in a single conversation. Compare dates, terms, and details across your whole portfolio in plain language, and get answers in seconds instead of opening contract after contract.

You're always in control

  • The first time you ask a question — or drag and drop files for the agent to review — Precoro asks for your consent, so it's clear what the agent works with.
  • Say yes, and your agent is ready to go.
  • Not right now? It folds away to the right, and you can keep working exactly as before.

Learn more about how the Contract Agent works from this article.


Detect Document Types Automatically in the AP Inbox

Not everything that lands in the AP Inbox is an invoice. Now, when a document arrives, AI first identifies what kind of document it is — before any invoice processing runs — so non-invoice files no longer get stuck in the wrong flow.

What you'll see

  • The detected document type appears in the Type column — for example: Invoice, Credit Note, Account statement, Receipt, Payment reminder, Bank details, Timesheet, Tax form, Certificate, or Other.
  • If the document is an Invoice or Credit Note, it continues straight into standard AI invoice processing as usual.
  • If it's not an invoice or credit note, standard processing doesn't run. The document gets the Unable to process status, and the AP Automation credit used to classify it is refunded to your company — so you're not charged for documents we can't process as invoices.

Try again with Resend

For any document in the Unable to process status, you can manually click Resend to make another attempt (this uses an AP Automation credit).

  • If the document is actually an invoice or credit note, Resend sends it into standard processing.
  • If it's a non-invoice document, Precoro runs a separate extraction attempt to pull whatever it can — supplier/sender, issue date, total amount, and at least one line item. If anything useful is found, it's returned to you.
  • If nothing useful can be extracted automatically, the document is sent to Human Review, where our team attempts to extract the details manually.

Help the AI Get It Right with Improve Recognition

When the AI reads a document, it isn't always perfect. Now you can tell us exactly what it got wrong — directly on the document — and that feedback is saved so it can be reviewed and used to improve recognition for your company.

  • On a document in the Draft status, you'll see a new Improve Recognition button in the top action bar.
  • Click it to open a short form, then describe what the AI recognized incorrectly.
  • Submit your comment. It's tied to that specific document and sent on for review.

Behind the scenes, each submission is saved as a separate prompt request on the AI Configuration page, in a new Requested prompts section alongside your existing prompts — so the team can review it and, when it's useful, turn it into a company custom prompt.

💡 Please note: an empty comment can't be submitted — add a few words about what went wrong before sending.

Track Contract Spend in Any Currency

Companies working across multiple Legal Entities can now keep contracts and their spend in the right currency.

  • Choose a currency when you create a contract. Contracts can be set up in different currencies, aligned to the Legal Entity.
  • Currency is validated against the Legal Entity. Precoro checks the contract on creation and won't let you pick a currency that doesn't correspond to its Legal Entity — and vice versa.
  • Spend is tracked in the contract's own currency. Amounts drawn against a contract from documents are calculated in the contract currency, converted using your selected exchange rate — taken from your Basic Settings, or from the rate set on the document if one is specified there.

💡 Please note: This update is available to accounts with Currency Support enabled. To turn it on, contact your Customer Success Manager.

View Only for Items Is Now a Standard Role

We've updated the pricing of the View Only for Items role. It's now a standard role, so it no longer counts as a power role in your company's role breakdown and doesn't take up a paid seat.

This makes it easier to give requesters view-only access to items without using a power-role seat. It's the first step in a set of changes to how catalog access works, with more to come in future releases.

AP Inbox: Smaller Improvements That Add Up

A few more changes to help you work through the AP Inbox faster.

Sort attachments by the date that matters to you

  • A new dropdown in the date column header lets you sort by Invoice Date, Due Date, or Date received.
  • The column shows two dates at once — your chosen date on top, a secondary date below — and supports ascending or descending order.
  • Your sorting choice is saved and stays active after you refresh, reopen the AP Inbox, or return later.
  • By default, the inbox is sorted by Date received, oldest first, so the documents waiting longest are handled first.

Know right away when AP credits run out

  • When your company uses up its AP credits, a Paid Limit Exceeded banner appears in the AP Inbox. New attachments stop being processed and receive the Paid Limit status.
  • Users with the Configuration role get an active Buy more button that opens Billing to purchase additional AP credits.
  • Users without the Configuration role see Buy more as inactive, with a prompt to contact their company administrator.

See where each document came from

  • The Attachment column now shows the document's source under the file name.
  • For documents received through email scanning, you'll see the sender's email; for documents uploaded manually, you'll see the name of the user who uploaded them.
  • Long email addresses are shortened with an ellipsis — hover to see the full address.

Newest in Precoro Mobile: PunchOut Catalogs and More

Learn about the latest updates to the Precoro mobile app.

💡 Please note: the app version that includes these updates will be available globally on June 25. Make sure you're on the latest version to use them.

Order from PunchOut Catalogs on Mobile

We've brought PunchOut to the mobile app, so you can create Purchase Orders and Purchase Requisitions from your marketplace catalogs wherever you are — the same way you do on the web.

Here's what you can do:

  • Start from the marketplace: Tap Request from Marketplace, choose your marketplace, and fill in the document's required fields.
  • Shop in the catalog: Open the catalog in your device's browser. Your document is saved as a Draft while you shop.
  • Come straight back: After checkout, you return to the app automatically, with all items added to your draft — including name, quantity, price, unit, and SKU.
  • Finish and send: Edit the fields you're allowed to change, add notes or attachments, and send the document for approval.

Please note: the supplier is set automatically and can't be changed. PunchOut catalogs are configured in the web version (Configuration → Marketplace Configuration), and the PunchOut option appears only for document types that have a catalog set up.

See Supplier Status on Mobile Purchase Orders

We've made it easier to know where an order stands with your supplier. The Purchase Order screen now shows a Supplier Status field, so you no longer have to rely on the Send/Resend buttons to track progress.

  • One clear status: Supplier Status combines the supplier's status with the delivery status of the emails sent to them. You may see Not Sent, Sent, Opened, Confirmed, Failed, or Sent to Marketplace for PunchOut orders.
  • More detail when you need it: Tap Show more to see the email status for each recipient.

Filter Purchase Requests by Item Custom Fields on Mobile

You can now filter the Purchase Requests list by item custom field (ICF) values, just like you can on the web.

  • Find requests faster: Filter by ICF text values — like a part number — to locate the right Purchase Request without being at your desk.
  • All your fields, available: Every document ICF is included in the filter.