For the construction business 2Construct, the administrative hassle of managing the accounts of multiple subcontractors has, in the past, been a major drain on resources – a source of inefficiency that undermined profitability.
“Like every other construction company, we had a lot of issues controlling our creditors and debtors, as well as the frustration each month of making sure our applications for payment were in, only to discover a few weeks later that they hadn’t made it on to the system,” recalls Peter Rahilly, the company’s construction director. “We could see the benefit of having a single software package that would resolve all those issues.”
2Construct’s solution was to work with Progressclaim.com to implement its online platform technology, which enables all parties to a particular contract to administer their payment applications collaboratively via a single portal.
The application has helped 2Construct become a more efficient organisation, Rahilly says, while also improving its relationship with subcontractors. He explains: “We were very keen to manage the risk of working with subcontractors, both for their benefit and ours – we wanted to make sure that subcontractors invoice us, we respond on time, and that the process happens in the way it is supposed to happen.”