Payapps – streamlining the management of applications for payment and the valuation process
Managing construction applications for payment can be time-consuming and risky, whether you’re submitting applications or administrating the assessment and certification.
Applications 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 and cause supply chain disputes.
But it doesn’t have to be this way.
Payapps is an online solution that standardises and simplifies the end-to-end management of construction applications for payment, variations and document compliance, while saving time and money.
Over the last 12 months, Payapps has transformed the applications for payment process across 5,000 global construction projects. Contractors like Bouygues UK, Stepnell, TClarke and BW use Payapps’ digitised approval workflows to meet payment notice deadlines and to streamline a typically labour-intensive process where information sits across spreadsheets and emails.
Payapps connects contractors with supply chains for reduced assessment and response times, ensuring compliance and providing payment process transparency.
The risk of supply chain disputes is reduced while visibility and reporting of cash flow, projected final account, payment and liabilities are improved.
Improve the processing efficiency of your applications for payment
Customers report that Payapps reduces administration of payment applications by up to 50%.
Efficiencies are achieved with reminders to submit applications and to issue payment notices on time; with simple configurable approval workflows; with centralised and a consistently accurate data; and with easy management of variations, retention, projected final account and liabilities… all improving ease and speed of payment.
“The process of assessing payments, and issuing payment notices, has been cut by around 50%. It can literally take minutes to process an application, issue payment notices and make a payment… very very easy.”
Carl Wiltshire, Managing Surveyor, GF Tomlinson.
Reduce risk of project delays and disputes
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.
“Payapps is vital for helping us pay on time, providing transparency and helping with Construction Act compliance.”
Kevin P’ng, Commercial Director, BW
Improve visibility and control
With all data and documentation stored centrally, searching for information within spreadsheets, emails and paperwork is a thing of the past.
Instead, Payapps provides up-to-date status and value of pending applications, plus value of notices already assessed… essential for cash flow forecasting.
What’s more, integrating Payapps with your ERP or accounting system achieves a single source of truth, eliminating double data entry and errors when submitting and certifying applications.
“The visibility of our cash position on all of our projects and contracts has been a revelation.”
David Crombie, Group Chief Accountant, Stepnell.
As one of PBC Today’s stakeholders, Payapps offers insight into construction technology, from knowledge to sector-leading observations.