NASHVILLE, Tenn., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Built, the leader in construction finance and lending software, announces a major update to its construction financial management platform. The enhancements, which are available now, significantly improve the process by which contractors and home builders manage construction-related invoices.
Offering complete visibility into each stage of an invoice’s lifecycle from conception to completion, Built’s software 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,” says 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.
About Built
Built is the leading provider of construction finance technology. Built connects commercial and consumer construction lenders, commercial real estate developers, commercial general contractors, residential homebuilders, specialty contractors, title companies, and other critical industry participants to improve the flow of capital through the construction ecosystem. By connecting all key stakeholders involved in the construction financing process in real-time, the platform mitigates risk, powers faster draws and payments, ensures compliance, and inspires customer loyalty. Built is used by more than 125 of the leading construction lenders and thousands of owners and contractors to manage over $68 billion of annual construction spend. For more information, visit www.getbuilt.com.
Media contact:
Kevin Wolf
TGPR
(650) 483-1552
kevin@tgprllc.com