Reducing risk and increasing profits…

June 07, 2017 by Progressclaim Job Done

… by supercharging your payment claim process

The biggest challenge any construction company faces is winning new business. However, once a project’s awarded and underway, the next challenge is maximising its profitability and minimising its risk. Contract administration plays a huge part during the life of a project, and beyond. Unfortunately, it’s often an area where inefficient systems and processes can cause a lot of unnecessary time, and money, wasted, as well as potentially bringing your company into financial risk.

So how can you optimise the payment claim process to reduce your costs and risks? Here are three questions to start asking:

1. What does our current payment claim process really cost us?

You think the only cost is the time taken to enter the data into your project accounting/ERP system. Think again! There are lots of ways you probably waste a lot of time:

2. Where is our risk in our current payment claims process?

Apart from the unnecessary time wasted over the life of a project, your business is also at financial and legal risk of:

In construction, you should always follow your ABCs and Always Be Compliant. Especially with the re-instating of the A.B.C.C. and the more stringent implementation of S.O.P.A. across all states. We can help with your ABCs and mostly in an automated way!

Wouldn’t it be safer to use a fully transparent system visible to all parties (with the appropriate levels of access security) that set the rules and requirements for payment claims, variations and retention releases so that everyone can comply legally and efficiently?

And of course, that’s where we step in…

Arrange a quick demonstration of Progressclaim.com to see how your standard payment claim processes can be automated, with your subbies submitting their claims in a format you know and love every month – and discover just how much time you could save each day, week, month and year!

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"What used to take me two days, now takes me two hours. Because Progressclaim.com is online, adminstration of the monthly payment claim cycle is less time consuming and much easier to manage. No more processing everything on a spreadsheet prone to error, and the assessment can be carried out at the touch of a button."

PAUL LINKE

Contract Administrator, BUILT

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