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Tech Menu

Financial Technology

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

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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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