BETTER INFORMATION RESULTS IN FASTER PAYMENT APPROVALS
At first it might be hard to draw the connection between the quality of information you provide to the builder and how it can affect your cashflow and payment.
Imagine, a builder can receive thousands of progress claims a month. Without a system like Payapps, claims are submitted via email and in many cases on paper. Invariably claims are formatted differently, and information and compliance documentation can be missing or incorrect.
The ensuing back and forth between builder and subcontractor to get the right information takes time. Disputes only extend this process and ultimately, it’s the subcontractor who is most affected, either through the time spent to rectify the issues or delayed payment. The builder also loses valuable team hours to this process creating unnecessary productivity challenges.
“IF YOU’RE A BUSY SUBCONTRACTOR WORKING ON SITE, CONSIDER HOW MUCH TIME YOU, OR YOUR STAFF SPEND PREPARING YOUR SUBMISSIONS EVERY MONTH, OR IF YOU’RE A LARGER SUBCONTRACTOR CHASING YOUR OWN CONTRACTORS FOR INFORMATION. CAN YOU PUT A DOLLAR AMOUNT ON THAT TIME?”
Unfortunately, there is no consistent standard in the industry for submitting and approving claims. It isn’t possible to make something efficient if it isn’t consistent, so we are working hard to establish that standard in partnership with our customers.
Payapps is now used by approximately 80 of the leading builders and over 3000 subcontractors in Australia, so we genuinely believe standardising the format and process of claims is possible.
WHAT IS PAYAPPS?
Payapps is an online platform that provides easy-to-use, real-time status of progress claims. Developed specifically for the construction industry, it allows everyone to collaborate on a single platform, eliminating the need for endless spreadsheet reconciliations, email trails and phone calls.
This video provides a quick overview:
MY CLAIM: SELF ASSESS
You can also take advantage of Payapps to receive payment claims from your own contractors and store all of your own documentation.
With Payapps self-assess, you set up the contract in the system and your suppliers then provide you with consistent information –saving you time chasing them. At a glance, everyone knows where they stand.
Maybe you love using excel and creating your own formulas, but we’re confident you’d rather be doing something more productive with your time. Once you’ve set up your contract, there’s no manual calculating to do. Payapps integrates with tools like MYOB and Xero so that invoices can be automatically sent to your accounting software.
You can also take advantage of these features in Payapps as part of any plan. For example, if you have a standard subscription (5 claims per month) 3 could go towards My Claim submissions and 2 could go towards collaborative submissions. It’s that easy.
We want you to be successful and benefit from Payapps. That’s why we offer as much support as you need – whether that’s getting started or understanding how the integration with Xero or other platforms works.
If you would prefer to engage virtually we have in app help, or alternatively you can call us anytime from 8AM – 8PM Monday to Friday. Our support team are all experts in the product and won’t ask you to hold for hours as they transfer you from one department to the next.
We also provide online documentation, which you can access anytime and a Subcontractor QuickStart guide which you can download and refer to if you need to train your own teams.
IS PAYAPPS WORTH IT?
If you’re doing one or two claims a month, Excel or more manual processes might be sufficient. We know from experience that as the claim numbers increase a system like Payapps delivers tangible time savings and by extension dollar savings over the course of many projects.
99% of subcontractors who sign up to Payapps remain on the platform, even after they’ve ceased working on a project where the use of Payapps was mandated. But don’t just take our word for it, have a listen to what Jesse Campbell from City Circle group has to say:
“THE PRODUCT ALLOWS US TO ELIMINATE ANY DOUBT AND POTENTIAL HUMAN ERROR WHEN ENTERING CLAIMS AND YOU CAN’T PUT A PRICE ON THAT.” JESSE CAMPBELL – COMMERCIAL MANAGER, CITY CIRCLE GROUP
Obviously if you’re working with a builder that requires you to use the system, they’ve decided that it is worth using and as Jesse outlined in the video, there are real benefits for everyone that uses the platform.
The best thing to do is see for yourself – request a demo with one of our friendly team. They can answer any of your questions and your numbers into our ROI calculator that has been developed over the course of working with thousands of clients.
We’re sure you’ll agree that at a certain point, the old way of doing things just doesn’t add up.