Scoro Acquires Envoice to Streamline Real-Time Profitability Tracking
Estonian-founded PSA platform Scoro acquires AI-driven expense management company Envoice, enabling professional services firms to track project costs in real time.
Scoro, the Estonian-founded professional services automation (PSA) platform now based in London, has announced the acquisition of Envoice, a leading AI-driven expense management company. The deal brings together two complementary solutions designed to help service providers track project costs in real time and avoid margin-eroding surprises.
The acquisition unites Scoro's comprehensive project management capabilities with Envoice's AI-powered bill and expense automation. Whilst both products will continue to operate independently, the integration enables professional services firms to manage project-related expenses with real-time insights into profitability. Integration between the two products is already live, automatically linking receipts to projects and purchase orders for over 7,000 customers.
Professional services firms have traditionally managed time and costs in separate, siloed systems, forcing businesses to rely on month-end reporting to understand their margins. The combined offering addresses this visibility gap by capturing every project cost as work happens, eliminating blind spots that impact the bottom line.
Fred Krieger, founder and CEO of Scoro, said: "Service businesses live and die by their margins, and yet external expenses are not always accounted for in project tracking because they sit in disconnected systems. Envoice has built a truly innovative solution for automating book-keeping, bill capture and expense approvals. Together, we ensure no cost goes unlogged, fulfilling our vision of an AI-powered future where repetitive manual tasks are outsourced to AI and automation is applied across the full project lifecycle – from planning and delivery to financial control."
Jaanus Põder, founder and CEO of Envoice, said: "Scoro is the perfect match for our next chapter. For our customers and partners, business will continue as usual, but with the backing of Scoro, we can now accelerate our roadmap and bring new capabilities to market much faster."
Further enhancements will be rolled out over the next two months to fully automate data exchange between the platforms. The deal marks a significant consolidation between two Estonian-founded companies, both leaders in their respective categories.
Krieger's journey to founding Scoro is particularly distinctive. The CEO also owns his own record label and works as a songwriter and producer, having co-written numerous hit songs including one that represented Estonia in the Eurovision Song Contest. It was during his time in the music industry, working 17-hour days, that he recognised the need for a better system to manage projects and built Scoro when he couldn't find an existing solution in the market.
Read more at www.scoro.com.
