Submitting and processing applications for payments is often a manual and time-consuming process prone to errors. Payapps digitises this process and it can be fully managed through 4PS Construct thanks to the seamless integration between the two products.
Managing construction applications and administering their assessment can be hugely time-consuming and poses some risks. Applications for payment are often valued incorrectly due to poor quality or rejected for not being contractually compliant. They can be mislaid or hidden within emails, meaning payment notice deadlines can easily be missed. All this can increase time to payment, can cause delays on site and can lead to supply chain issues.
But it doesn’t have to be this way.
Payapps is a cloud-based solution that simplifies the management of construction applications for payment within a single platform. It works on mobile, tablet or desktop so you and your supply chain can easily submit, value and approve applications anytime and anywhere.
Payapps customers report that this digital method of managing data related to payments reduces administration of applications for payment by up to 50%.
Efficiencies are achieved with subcontractor reminders to submit applications, and reminders to you to issue payment notices ahead of deadline. A streamlined approval process is achieved through simple configurable approval workflows, as well as centralised and consistently accurate data.
Easy management of variations, retention, projected final account and liabilities means ease and speed of payment is significantly improved, and the transparency Payapps provides to your supply chain means less time responding to payment-related queries.
Payapps facilitates quick, simple and standardised application processing that’s contract- and Construction Act-compliant. It reduces the risk of rejected or missed applications, and avoids costly supply chain disputes.
With all data and documentation stored centrally, searching for information within spreadsheets, emails and paperwork is a thing of the past. Instead, dashboard views provide up-to-date status and value of pending applications, plus value of notices already assessed… essential for cash flow forecasting. Real-time reports and at-a-glance dashboard views analyse historic assessments and value of applications in progress; variation accounts including recorded liabilities; and subcontractor performance across projects…essential for cash flow forecasting.
What’s more, integrating Payapps with 4PS Construct ERP software achieves a single source of truth, eliminating double data entry and errors when submitting and certifying applications.
Watch this video to understand more about how you can better manage your entire subcontractor assessment and payment process
4PS Construct now includes management of the entire subcontractor assessment and payment process. Combining the award-winning 4PS Construct solution with Payapps’ cloud collaboration platform gives you seamless end-to-end subcontractor payment management. Take a look at this brochure to learn more about managing Applications for Payments within 4PS Construct.
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