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BuildPay
Sub-Category:
Company Name:
Project Accounting
BuildPay, LLC
Founder(s)/CEO:
Steve Wightman
Founded Year:
Headquarters:
# of Employees:
2015
Troy, NY USA
11-25
Electronic Communication
File Management
Finance
Fleet / Equipment Management
Information Resource
Time & Attendance
Design Creation
Design Review
Design Visualization
Design Resource
Pre-Construction
Buyout
Procurement
Project Management
Production
Quality
Environmental, Health & Safety (EHS)
Operations
Facility Management
Secondary Features
Office
Customer Relationship Management (CRM)
Design
Construction
Product Description
BuildPay's payment platform for construction connects the entire construction payment chain to their shared project ledger, increasing job transparency and enabling fast, direct payments to everyone on the project. When everyone can see their payment, confidence and trust is restored, risk is reduced, and the project accelerates.
System Requirements
Mobile Application
Mac OS
Microsoft Windows
Agnostic (Web-Based)
Operating System
Apple iOS
Android
Microsoft Windows
Competitive Advantage
The average accounts receivable in the industry is more than 66 days; with BuildPay it's 0. The technology leverages the buying power of the financial institutions making sure that materials are paid for as soon as they walk out the door and that subs are paid the same second that the GC's invoice is approved.
Impact on Construction
BuildPay's technology is flexible, adapting to the accounting products and project management tools we already use.
Good for Project Managers
Timely, accurate payments is the life-blood of keeping any project moving forward. With BuildPay, cashflow is maintained so production can continue.
Good for Superintendents
Page by BuildPay, LLC
05/24/19
The Final Word
by Blue Collar Labs
BuildPay provides a powerful tool in helping all project stakeholders know where their money is at all times. The construction industry as a whole often struggles with issuing payments for completed work, whether it's the stacks of required paperwork, breakdowns in communication and the endless cycle of approving/rejecting work activities, BuildPay looks to eliminate those issues. By "hardwiring" all project parties (owners, GCs, subs) to the same lending institution, teams can now operate with accounts-receivable fluidity.
Karl Sorensen
Chief Technologist
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Straight-Forward | Easy-to-Understand | Unbiased | Blue Collar Labs