Seamless Banking Integration: How Powens + WeSteer Simplify Financial Management for Construction Companies

For construction and engineering firms, financial control is as critical as project execution. Yet daily banking operations—importing bank statements, reconciling payments, and managing cash flow—often remain manual, error-prone, and time-consuming.

The combined power of Powens, Europe’s leading open-banking platform, and WeSteer, the Microsoft Dynamics 365–based ERP for construction and project-driven businesses, delivers a new level of efficiency. Together, they enable direct, secure bank connectivity inside WeSteer for real-time financial data, automated reconciliation, and faster decision-making.

Banking Challenge in the Construction Sector

Construction companies face unique financial pressures:

Multiple bank accounts across projects and regions.

Frequent, high-value transactions with subcontractors and suppliers.

Tight cash-flow visibility requirements to control project profitability.

Manual imports of bank statements that cause delays and reconciliation errors.

These challenges can lead to poor forecasting, higher administrative costs, and cash-flow surprises.

Powens: Europe’s Open-Banking Leader

Powens provides a secure API platform to connect businesses directly to thousands of European banks:

Real-time bank data aggregation: balances and transactions updated automatically.

Payment initiation: trigger supplier or salary payments directly from the ERP.

PSD2-compliant security: robust encryption and customer consent management.

By eliminating manual downloads and uploads, Powens ensures that financial data is always current and accurate.

WeSteer: ERP Built for Project-Based Industries

WeSteer is an integrated ERP tailored to construction, engineering, and service companies. Built on Microsoft Dynamics 365, it offers:

Comprehensive project accounting and margin tracking.

Budget management and resource planning.

Real-time dashboards for financial and operational insights.

With WeSteer, finance and operations teams share a single source of truth for every project.

The Power of Powens + WeSteer Integration

Connecting Powens directly to WeSteer transforms banking operations:

Automatic Bank Feeds Daily transactions and balances flow straight into WeSteer—no more manual imports or late reconciliations.

Real-Time Cash Positioning CFOs and project managers instantly see company-wide cash status and project-level liquidity.

Automated Reconciliation Powens provides detailed transaction data that WeSteer’s accounting engine matches against invoices and purchase orders.

Initiate Payments from WeSteerTrigger supplier or subcontractor payments within WeSteer, validated and executed through Powens’ PSD2-compliant payment initiation.

This seamless integration saves hours of manual work and reduces risk while giving decision-makers timely insights.

Practical Use Case: A Mid-Size Construction Firm

Consider a regional contractor managing 20 simultaneous projects and multiple bank relationships.Before Powens–WeSteer integration:

Accounting staff manually imported bank statements each morning.

Bank reconciliation could take 2–3 days per month.

Cash-flow forecasts were often outdated.

After implementing the combined solution:

Bank data refreshes every 15 minutes, ensuring instant visibility.

Reconciliation time cut by 70 % thanks to automated matching.

Cash-flow forecasts updated in real time, helping the CFO optimize supplier payments and financing needs.

Key Benefits at a Glance

• Time Savings: No more repetitive imports or double entry.

• Accuracy: Eliminate reconciliation errors and improve audit readiness.

• Better Cash Control: Up-to-the-minute financial insights enable smarter decisions.

• Enhanced Security: PSD2-compliant connections safeguard sensitive banking data.

Implementation Steps

Integrating Powens and WeSteer is straightforward:

1. Connect Bank Accounts via Powens – Secure consent-based authentication to each bank.

2. Activate WeSteer Bank Connector – Configure Powens credentials and map accounts to projects or cost centers.

3. Automate Workflows – Schedule automatic data refresh and reconciliation tasks.

4. Train Finance Teams – Demonstrate real-time dashboards and payment initiation processes.

Deployment can be completed in just a few days with guidance from certified partners.

Future-Ready Financial Management

As the construction industry embraces digital transformation, integrated banking is becoming a competitive advantage. Powens and WeSteer provide a scalable foundation for advanced services such as dynamic cash forecasting, instant supplier payments, and predictive financial analytics.

Conclusion

The Powens + WeSteer integration empowers construction, engineering, and service firms to move beyond manual banking tasks and focus on strategic financial management.With real-time bank connectivity, automated reconciliation, and secure payment initiation, companies can improve cash control and project profitability.

Request a demo today to see how Powens and WeSteer can streamline your banking operations and strengthen your financial performance.