A CFO’s Guide to Days Sales Outstanding in Construction Approved work does not automatically translate into predictable cash. In construction, cash becomes difficult to forecast when the signals that determine payment readiness are spread across pay applications, waivers, compliance
Processing Applications For Payment, or pay apps, should be easy. Subcontractors complete work as assigned and submit their pay apps accordingly. So why has this
Construction projects contain lots of moving parts, people, materials, and processes with very tight margins. Thanks to COVID, the industry is facing serious challenges like work restrictions
Lien waivers, also called lien releases, are an essential part of the construction industry. Lien waivers were designed to protect the paying party – typically the
In an industry as complex and competitive as construction, it’s vital to maintain a productive and efficient project workflow. General contractors and subcontractors have shared
Technology has taken off in the construction industry around project management, BIM, finance, and safety solutions. But, there’s still an area where the process remains
Final unconditional lien waivers are viewed as one of the riskier types of waivers across the U.S., as they do not guarantee payment will be
Progress payments on unconditional lien waivers are a riskier arrangement to use between subcontractors and general contractors, as they cannot guarantee that all payments will
GCPay’s owner billing capabilities work for owners and/or general contractors. Manage all submissions and approvals in app.
Nearly every jurisdiction has a law requiring employers to pay employees suitable wages; some states have created criminal penalties for wage theft.
