Construction
Newswire | September 12, 2023
Billd, a leading construction payment provider for commercial trade contractors, and STACK Construction Technologies, a pioneering construction software platform, enhanced their strategic partnership today in a way that will allow subcontractors to accelerate their growth like never before. Billd's financing solutions are now embedded in STACK's Takeoff and Estimating platform, allowing subcontractors to instantly access working capital during preconstruction. The new integration will empower subcontractors to increase bid volume, secure working capital, and strengthen supplier relationships, accelerating business growth without the financial constraints of the industry's broken payment chain.
"We encourage all of our customers to think about working capital availability, and if necessary, financing costs, as early as possible," said Billd CEO and Founder, Chris Doyle. "This integration equips subcontractors to be proactive about project finances and bid, plan, and make promises to customers confidently, knowing that financial backing is readily available."
Supply chain finance has been historically unfair to subcontractors, leaving them footing the bill for materials and labor far before they're paid for their work. Subcontractors wait twice as long as industry peers to be paid, averaging 74 days (almost two and a half months) after starting a project.
By leveraging Billd Connect, Billd's suite of embedded financing apps, STACK will provide access to working capital solutions to their customers while they estimate the cost of upcoming projects. STACK's best-in-class software empowers contractors with accurate and customizable estimates, reducing the risk of underestimating costs and overextending resources. Meanwhile, Billd's material and invoice financing bridge the gap in subcontractor cash flow, reducing the risk of overextending working capital. By providing subcontractors with hyper-accurate takeoffs and estimates along with upfront funds for materials, joint customers can mitigate the uncertainties of payment cycles and bid with confidence.
"The integration of construction technology is no longer a luxury—it's a necessity," said STACK's CEO and Co-Founder, Phillip Ogilby. "The construction industry has been plagued by subcontractors not getting paid on time, leading to disruptions, delays, and stalled growth. Our streamlined takeoff, estimating, and proposal solutions paired with Billd's financing options mean subs can focus on what matters. Taking the guesswork out with accurate estimates and having predictable revenue is a huge win. I wish I had this growth opportunity when I was a roofing contractor."
Subcontractors need financing and they need it early in the process. Billd offers 120-day terms on material purchases, enabling subcontractors to improve their cash flow to take on larger projects, get more estimates out the door, and focus on investing in their long-term plan.
About STACK Construction Technologies
From project evaluation to completion, contractors use STACK's cloud-based software to help run their business and maximize their profits. Our preconstruction solutions enable fast and accurate takeoff and estimating, as well as providing a centralized hub where plans, specs, and other construction documents can be stored, evaluated, measured, and shared. Our construction solutions power real-time field and project collaboration by allowing teams to quickly and easily review, annotate, compare, and share plans, anywhere, from any device. STACK's superior collaboration tools ultimately improve project outcomes and profitability for contractors.
About Billd
At Billd, we provide a payment solution that enables commercial construction contractors to free up cash for material purchases while enjoying the flexibility of 120-day payment terms. You get financing for commercial materials upfront with the freedom to pay it back at your own pace. Learn more about how we can help eliminate your company's cash-flow problems so you can win more bids and grow your business.
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Markets
PR Newswire | October 03, 2023
Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced that it has acquired Hubbard Paving & Grading, Inc., headquartered in Walhalla, South Carolina. The acquisition adds one hot-mix asphalt plant and related construction operations to CPI's South Carolina platform company, King Asphalt, Inc., and will expand its service market in the Upstate region.
Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "The Upstate area of South Carolina continues to be one of the most dynamic and fastest-growing areas in the United States. We welcome the skilled team of professionals from Hubbard and look forward to serving the infrastructure needs of the greater Greenville metro area as a combined organization."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across six southeastern states. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminal, the company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.
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Construction
PR Newswire | September 21, 2023
Deltek, the leading global provider of software and solutions for project-based businesses, today announced an expanded partnership with Deltek ComputerEase within the Procore platform, marking a milestone with its involvement on the Procore App Marketplac
Procore Technologies, Inc. is a leading global provider of construction management software and launched the Procore App Marketplace in 2016 as an online hub for third party integrations and custom applications modernizing the everyday life of the construction professional. The enhanced integration will benefit thousands of construction stakeholders who currently depend on Deltek and Procore for their financial and project management needs, ultimately helping enhance firms' profitability by enabling construction jobs to be managed more effectively. In addition, Procore will join the Deltek Marketplace, a curated collection of third-party vendors that bring value and ROI to project-based businesses, and Deltek ComputerEase will remain on the Procore App Marketplace.
Deltek ComputerEase has a longstanding integration with Procore's Project Management platform, and this partnership will further the relationship between the two by bringing more connectivity and efficiency to the construction industry's daily operations. The expanded partnership offers more seamless data synchronization by connecting project management and accounting functions. Any changes made to projects will appear for all team members simultaneously, reducing errors and time spent on manual data transfers and updates, leading to improved efficiency, accelerated timelines, and smarter decision-making.
"Through this enhancement, we can offer contractors and their accounting teams improved access to the meaningful data they need to successfully carry out a project," said Kris Lengieza, Vice President of Global Partnerships and Alliances at Procore. "Construction professionals using both platforms can now have access to accurate, real-time information that can be seamlessly shared between the jobsite and the back office, helping deliver projects on time and within budget."
"Thousands of trade and general construction contractors already leverage Deltek ComputerEase and Procore to run their businesses, control their margins, and collaborate with stakeholders," said John Meibers, Vice President and General Manager for Deltek ComputerEase. "We're thrilled to continue our journey with Procore and look forward to delivering industry leading integration and customer experience for users of the ComputerEase and Procore platforms."
Deltek ComputerEase is proud to be a Silver sponsor of Procore Groundbreak, being held in Chicago September 19-20, 2023. Attendees can learn more about Deltek and the expanded partnership with Procore at the Deltek ComputerEase booth, #16.
About Deltek
Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue. Learn more at www.deltek.com.
About Procore
Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore's platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore's platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe. Learn more at Procore.com.
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