Construction firms preparing for reopening get turnkey access to a new ConTech-FinTech integration released by Earlytrade and Trimble Viewpoint
Earlytrade and Trimble Viewpoint have released a turnkey integration that allows Head Contractors in Australia and New Zealand to quickly deploy an award-winning early settlement platform.
Build, Earlytrade’s ConTech-FinTech solution, automates early settlement negotiations between Head Contractors and subcontractors, giving businesses the working capital flexibility they need to navigate the imminent economic reopening.
The announcement comes ahead of the Viewpoint APAC Summit on October 13-14, where Guy Saxelby, CEO and Head of Construction at Earlytrade, will present client case studies on how B2B fintech can create real-time responsiveness in the face of Covid uncertainty.
With the integration, Trimble Viewpoint ERP users can easily deploy Earlytrade’s Build platform within three days.
Once a firm launches Build to their subcontractors, registered businesses can instantly access early settlement payments in exchange for a small nominated discount on approved claims in the cloud-based marketplace.
Build also automates Security of Payments Act compliance for Head Contractors across state and territory jurisdictions, and protects Head Contractors and subcontractors with a risk rating tool.
Benefits for Head Contractors:
- Working capital flexibility
- Reduced project overrun risks
- Automated SOPA compliance
- Automated early settlement negotiations
- Tailored supply chain risk ratings
Mr Saxelby said targeted industry shutdowns had prompted leaders to examine technology’s role in addressing supply chain issues.
“Throughout the pandemic, the construction industry was the engine room for jobs and growth, but recent localised shutdowns have interrupted or stalled momentum,” he said.
“Australia’s reopening is just around the corner, and forward-thinking businesses recognise the need to respond in real-time if they want to capitalise on reopening opportunities.”
“In order to meet the needs of Australia’s largest contractors, Build has been designed to unlock cash flow and liquidity at scale,” he said.