Construction projects can take a long time to execute, involve multiple vendors and partners, and require complex contractual obligations that govern payouts. In addition, managing a large volume of documents that are continually created and updated — invoices, lien waivers, change orders, paper and digital receipts etc. — require significant time and effort.
Construction project owners need to have a clear view of their cash flow, especially when many subcontractors, suppliers and partners are involved. Manual payment processes are unwieldy, error prone and time consuming, and tend to create friction with stakeholders. By viewing this webinar recording, you will uncover how CMiC Pay Request helps companies efficiently manage their elaborate payment cycles – all from a single Web portal.
Specifically, the webinar will help you learn how CMiC’s Pay Request solution enables construction firms to:
- Streamline progress payments for subcontractors with defined workflows that automate and simplify the payment process
- Ensure compliance with contractual obligations (in the form of lien waivers and other supporting documents) and deliver transparency across projects
- Electronically sign waivers and other documents using the built-in e-sign solution
- Increase efficiency through automation, decreased risk, reduce operational overhead and impact cash flow positively
Presenter: Oliver Ritchie, VP of Technology & Innovation, CMiC