Customer Stories

MAX Build: Enhancing Financial Accuracy and Streamlining Compliance with Payapps

MAX Build has seen substantial time and cost savings, as well as huge benefits in the relationship with their subcontractors, in the two years since implementing Payapps.

Increased Project Capacity: Able to handle 20-25% larger projects without adding more staff

Improved Financial Accuracy: Enhanced accuracy in financial coding and streamlined auditing processes.

Streamlined Claims Process: Faster claim approvals and payments, increasing subcontractor satisfaction and ensuring SoPA compliance.

About Our Customer

Established: 2010 in Sydney, Australia, specialising in high-quality refurbishment, adaptation, and heritage remodelling of inhabited residential buildings.
Industry Focus: Premier remedial building firm with a reputation for tackling complex, large-scale projects, especially in heritage restoration.
Expansion Goals: Actively expanding operations across current market and the Eastern seaboard.
Clientele: Serves high-end clients, focusing on intricate construction challenges.
Workforce: Maintains a strong team of about 45 professionals based in Potts Point.
Compliance Commitment: Adheres to strict industry regulations to ensure project safety and quality. ICIRT 4 Star Rated (Equifax).

The Challenge

Inaccuracies Across Departments: Project teams assessing subcontractor claims via Excel and were incorrectly coding accounting information for claims/projects, leading to discrepancies that affected the entire accounting process.
Manual Compliance Management: The labour-intensive tracking of compliance documents and claim details led to operational inefficiencies.
Pressured Payment Deadlines: The extensive manual handling of each claim shortened the available time to meet payment deadlines, increasing stress and the potential for errors.

Upon his appointment at MAX Build in 2023, Alex Hatzioannou, the new Head of Finance and Compliance, quickly identified several critical inefficiencies that were affecting the company’s operations. These issues were not only causing financial discrepancies but also straining the company’s ability to manage projects efficiently.

The project teams at MAX Build were handling over 100 claims per month through a process that involved assessing claims on spreadsheets, converting these to PDFs, and then manually uploading them into the accounting system. This method led to frequent inaccuracies as the accounting codes often needed subsequent adjustments. These inaccuracies had a cascading effect on the accounting team, complicating the auditing of accounts and making financial management more challenging than necessary.

“The excessive manual work by our project and accounting teams led to inaccuracies in coding claim information, complicating audits and increasing the risk of non-compliance with SoPA commitments.”

Alex Hatzioannou, Head of Finance and Compliance, MAX Build

Additionally, the management of compliance documents was highly labour-intensive. Contract administrators spent excessive time going back and forth with subcontractors, chasing up incorrect claim information or missing paperwork such as subcontractor declarations. This not only diverted resources from core activities but also contributed to operational inefficiencies within the company.

Another significant challenge was the extensive manual handling required for each claim, which considerably shortened the available time to meet payment deadlines. This increased stress and the potential for errors, compounding the risk of failing to meet statutory obligations under SoPA legislation. Alex noted that these manual processes took staff away from their primary project duties and exposed the company to compliance risks.

These challenges highlighted the need for a streamlined and efficient system that could reduce manual labour, enhance accuracy, and ensure compliance. The search for such a solution led MAX Build to consider implementing Payapps, aiming to address these issues comprehensively.

The Payapps Advantage

Dedicated Progress Claim Platform: Payapps offered workflows that could handle the unique demands of progress claim management. Its ability to handle complex financial data and maintain compliance with construction-specific regulations was crucial.
User-Friendly Onboarding and Education: Payapps ensures rapid adoption with its intuitive interface and focused user education, quickly bringing staff up to speed and enhancing productivity.
Comprehensive Compliance Tracking: Payapps acts as a central repository for all subcontractor compliance documentation, streamlining processes and ensuring easy access to up-to-date information, thus facilitating thorough compliance management.

Drawing on his prior experience Alex recognised that MAX Build’s challenges required a dedicated progress claim solution to enhance financial accuracy and streamline project management workflows without disrupting ongoing projects. Payapps was chosen for its robust features that promised significant improvements.

To facilitate a smooth transition, Alex worked closely with Payapps’ Customer Success team to tailor the rollout to MAX Build’s specific needs. They organised a series of educational roadshows to introduce the platform to the project teams, emphasising how Payapps would make their daily tasks easier and more efficient. A long-term employee was identified as an internal champion to drive engagement and increase project awareness among the staff.

Subcontractors were engaged early in the process with informative emails detailing how Payapps would directly benefit them—highlighting features like matched claims to project contracts, faster approval times, and the elimination of redundant accounting. This proactive communication helped to ensure that subcontractors were not only ready to use the system but were also supportive of the change.

The anticipated ease of including compliance documentation with each claim was another significant advantage. This capability meant that Contract Administrators no longer needed to chase subcontractors for missing information, as the necessary documentation would be included upfront at claim submission. This improvement was expected to reduce administrative overhead and help streamline the approval process.

With Payapps, MAX Build was able to handle larger projects more efficiently, without the need to increase staff or compromise on project delivery times.

“I wanted to create an efficient process for the assessment of subcontractor claims, and using Payapps was going to be much faster and cost-effective to help us simplify the complicated projects we had in sight”

Alex Hatzioannou, Head of Finance and Compliance, MAX Build

The Results

Enhanced Project Capacity: The streamlined claims process has enabled MAX Build to undertake projects that are 20-25% larger than previously possible.
Increased Financial Accuracy: There has been a notable reduction in inaccuracies and an improvement in cost coding for account auditing purposes.
Improved Visibility and Compliance Management: Subcontractors now enjoy improved real-time visibility, and the management of compliance documents has been streamlined, mitigating risks and payment delays.

Since implementing Payapps nearly two years ago, MAX Build has seen substantial time and cost savings, as well as huge benefits in the relationship with their subcontractors.

“Before, it took us almost two days to get through 30 claims. Now, a Contract Administrator can knock out nearly 20 in a day. That’s a massive save on costs and time. Our subcontractors are happier because their claims are getting approved faster, meaning they’re getting paid faster.

Alex Hatzioannou

Payapps now seamlessly integrates into MAX Build’s Xero accounting software, which has eliminated the need for duplicate data entry and manual overriding of account codes. This integration has made it easier for the accounts team to detect and address any anomalies, giving them greater control over data entry and enhancing the accuracy required for financial audits.

The directors of MAX Build have observed significant enhancements due to the automation of the claims process. These improvements have allowed the business to take on larger and more complex projects without the need for additional resources.

“The automation provided by Payapps has not only streamlined our processes but also supported our growth without proportional increases in our overhead costs.”

The improvement in the visibility of claim statuses and the efficient management of compliance documentation have been well received by subcontractors. This change has reduced the frequency of inquiries and disputes, fostering a more cooperative and productive working environment.

Alex reflects on the transformative impact of Payapps,

“Efficiently managing larger projects with Payapps has been a game changer, significantly boosting our operational capabilities. It’s not just about handling more work; it’s about smart growth. With Payapps, we’re able to scale our operations and increase our revenue.”

Transform Your Progress Claims

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