The construction industry is the latest sector to benefit from our strategy of seeking out innovative ways to introduce application functionality. We’ve recently integrated the market-leading Payapps solution into Microsoft Dynamics 365, transforming how construction companies handle paying their subcontractors — known as payment applications.
Traditionally, managing subcontractors’ applications for payment has been heavily manual, usually involving spreadsheets, paper, ad-hoc processes and significant human effort. This usually happens each and every month. Given today’s industry focus on prompt payment across the supply chain in line with the Construction Act and Prompt Payment Code, we’ve taken action, partnering with the innovative Payapps solution.
Payapps is a cloud collaboration platform that allows main contractors and subcontractors to quickly and easily collaborate on the preparation, submission, assessment, valuation and certification of applications for payment.
Once the payment application is approved, the integration with Microsoft Dynamics 365 means key information such as contract and project details and values, the gross certified amount, CIS tax deductions and the final date for payment is seamlessly transferred to the finance system, enabling prompt payment. Both main contractors and subcontractors benefit from significant time savings and process efficiencies, reduction in errors, increased compliance and auditability and increased transparency.
This industry-transforming solution is cloud-based, so can be used on any device, at any time by both the main contractors and subcontractors. In bringing Microsoft Dynamics 365 and Payapps together, we’re addressing the construction industry’s need to tackle endemic issues, with smart technology.
If you’d like to know more about how our integration of Payapps with Microsoft Dynamics 365 can help your construction business, get in touch.