Built, a leader in construction finance and lending software, announces a significant update to its Construction platform, which will change the way contractors and home builders manage billing processes.
Offering complete visibility into each stage of an invoice’s life cycle from conception to completion, Built’s new solution promises smarter, faster and simpler billing processes for construction professionals. Presented in the form of a clean and intuitive dashboard from which all invoices and progress billing, compliance documents, lien waivers and payments can be monitored and tracked, Built offers finance tools purpose-built for construction to bring billing into focus.
While Built’s Construction division has taken major strides in innovating the way contractors manage lien waivers, sworn statements, notice to owners and payments, general contractors, residential homebuilders and other like parties remain stuck with invoicing tools that only meet half their needs. Although construction professionals receive hundreds if not thousands of invoices from their vendors, they’re often forced to employ tedious spreadsheets or antiquated communication methods as a means of monitoring, tracking, and completing each one. This painstaking approach is not only prone to error, but also leads to increased length of a project, exposing construction companies to financial risk. Ultimately, contractors and builders fall victim to a vicious cycle of missed deadlines and late payments which wreak havoc on their proposed project timelines.
A purpose-built solution that aims to address these challenges, Built makes sense of billing so contractors can focus on building.
“Most accounting systems used in construction are either antiquated or lack the features to support basic construction billing processes,” said Geoff Arnold, general manager of construction solutions at Built. “Our approach is to layer construction-centric tools on top of existing accounting and project management systems to fill in the gaps and optimize the process. Built’s latest features provide complete visibility into the lifecycle of an invoice as it makes its way from A/P to A/R to payment, providing an alternative to costly multi-software approaches and duplicative tooling.”
Featuring best-in-class integrations with popular software such as Procore, DocuSign, Sage 100 Contractor, Sage 300 CRE, QuickBooks Enterprise, QuickBooks Desktop, QuickBooks Online, Xero and more, the Built dashboard consolidates all data necessary and presents it via customizable stages. The dashboard’s drag-and-drop functionality makes it easy to move an invoice along the spectrum, and bird’s eye view visibility ensures everyone stays informed. Further, because specialty contractors and vendors will continue to submit invoices via email, there is no learning curve or change management when implementing Built.
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