Production Home Builders

Builder Pay Use Case Stories for Six Different Personas

Background:

Mike is a project manager for a large production home builder. His main challenge is ensuring that projects are completed on time while managing multiple projects and project vendors.

Challenge:

​Mike needed to attract and retain reliable vendors who could deliver quality work on tight schedules. He also wanted to reduce the downtime between tasks to accelerate project delivery.

Solution:

Mike's company adopted Builder Pay to manage vendor payments and streamline the project workflow. Builder Pay's task verification and payment release process provided the accountability and efficiency they needed while significantly reducing overhead costs associated with staffing a construction payables department​.​

Process:

​​ Task Scheduling: Mike schedules tasks for various project vendors using Builder Pay, with specific deadlines and deliverables.

Task Verification: Project vendors complete their tasks and submit evidence for verification through Builder Pay.

Payment Release: Upon verification, Builder Pay releases payments to project vendors, ensuring they are paid promptly for their work.

Reduced Downtime: The immediate verification and payment process reduces downtime between tasks, keeping the project moving smoothly.

Lien Waivers: Builder Pay secures lien waivers from all parties involved, verifying that all payments have been made and protecting Mike and his company from potential liens.

Benefits:

​​ Vendor Attraction: Reliable and timely payments attract high-quality project vendors who are eager to work with Mike's company.

Increased Capacity: Project vendors are more willing to commit their resources, knowing they will be paid promptly upon task completion.

Accelerated Delivery: Reduced downtime between tasks accelerates overall project delivery, allowing Mike to complete more homes in less time.

Overhead Reduction: Builder Pay eliminates the need for a construction payables department, significantly reducing overhead costs.

Outcome:

​Since implementing Builder Pay, Mike has seen a significant improvement in project timelines and vendor relationships. The streamlined payment and verification process has enabled his company to deliver new homes faster, increasing their overall capacity and profitability.

Additionally, the cost offset from not needing a dedicated construction payables department has provided substantial savings, further boosting the company's financial performance.