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Article DetailsSoutheastern Builders Expand Their Business With Buildproof |
| Date Added: August 19, 2009 07:23:13 PM |
| Author: Nick Norris |
| Category: Blogs: Home and Garden |
| When contracting companies find themselves in a position where they cannot easily expand, it makes business more difficult. Whether the company is dealing financial expansion issues, lending issues, funding, or project management issues; there is a solution. The solution is Buildproof. The Situation: The partners at Southeastern Builders wanted to leverage their experience in the modular home industry to meet the huge demand for affordable housing along the Gulf Coast in the wake of Hurricane Katrina. After Katrina ravaged lives and destroyed homes, there was a need for a scalable office and project management solution. Most contractors and subcontractors do not have the logistical capacity to handle several hundred projects at a single time. In addition to the challenges on-site, Southeastern faced significant reporting challenges. Their investors wanted up-to-date progress reports on progress relative to use of capital. Timely use of capital was a critical issue for Southeastern, since they were ultimately dependent on a complex funding program with HUD and they were using private equity as a bridge to the government recovery program. Southeastern considered the traditional route – hiring personnel to manage AP/AR, scheduling, and inspections and dropping a trailer on each job site to act as a central repository of invoices, information and management. But such an approach was not only expensive, but slow. Under traditional paper based or combined computer/paper systems, reporting usually lags performance significantly. Slow reporting would impair their ability to effectively leverage their combined funding sources, rendering them less than affective. The Solution: Instead, Southeastern turned to Buildproof, a web-based application which provides online contract and project management, secure payment and communication tools for managing construction and related services contracts. Buildproof’s intuitive, simple-to-use, web-based platform enables Southeastern to set-up projects of any level of complexity based on any number of different project “milestones” and subcontractors responsible for reaching those milestones, literally within minutes. On-line access then enables on-the-fly (via either mobile or computer entry) real-time entry of data on work progress on those specific milestones by the subs actually on-site performing the work. Buildproof’s communication tools provide Southeastern’s project managers with email contact with contractors and subs, notification of completed milestones via email, alerts of missed milestones. Subs can also provide Southeastern’s managers with additional real-time information, including uploaded photos and videos of problem areas or completed work. After successfully inspection, Buildproof’s secure payment system enables Southeastern to instantly pay subs for completed work, from the job site or remotely, via direct transfer into a sub’s bank account, reducing administrative costs and giving subs a significant incentive for providing lower bids. The Satisfaction: Southeastern Builders found that the Buildproof system enabled them to reduce labor costs, more efficiently manage projects, incentivize subcontractors to provide more competitive bids since prompt payment through the system is guaranteed, and leverage capital more effectively. For more information on how the Buildproof system can help your company be more successful, contact Derrick Mains at (480) 205-8156 or Derrick@Buildproof.com. Buildproof can help you with: FEMA Contractors Contractor Complaints Payment Escrow |
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