Streamline your Process/Using Online Electronic Payment Applications

摘要

Owners, architects, insurance and lending agencies all, review the details of payment applications, and their supporting documents. The general contractor performs a tedious task when compiling and often changing the subcontractors' invoices, ensuring calculations are correct, change orders were approved and lien documents are signed. Submittals come via fax, email and postal service and this process produces more questions and longer meetings during the reconciliations. If the owner or GC questions one line item scheduled value this can cause a ripple effect down to the subs and the entire submission process starts again. With the advent of electronic payment applications this can be streamlined into a "team" approach with fewer delays, better communications and an audit trail that satisfies the most discerning eye.