Press Release: Midwest Construction Tech Startup Gets Contractors Paid Faster
SIOUX CITY, Iowa, Dec. 6, 2016 /PRNewswire/ — Every time a contractor gets paid in under forty-five days, an angel gets his wings. Today, Lienwaivers powered by Built continues its quest to help contractors get paid faster with the release of four new features: Electronic Waiver Notarization, Same-Day ACH Payments, Automatic W9 Collection with 1099 Preparation, and a partner-ready API. For contractors using Lienwaivers powered by Built, it truly is a wonderful life.
“Since our initial launch in January 2016, we’ve been leading the charge of reducing paper in the construction disbursement process. These new features put us at the forefront of the digital revolution in construction payments. And now, with our developer-friendly API, other construction software providers are invited to join us,” says CEO and Co-Founder, Geoff Arnold.
Just as we’ve witnessed elsewhere in technology, when open platforms like Lienwaivers powered by Built enter the market, there’s a shift from buyers purchasing expensive, one-size-fits-some software suites to customers choosing innovative technologies which communicate through APIs. In partnering with industry leaders such as Notarize.com and HelloSign, Lienwaivers powered by Built has empowered their customers to seamlessly take control of their disbursement process.
As Arnold explains, “At first our customers were skeptical that their contractors would adopt electronic workflows, however we’ve seen the shift from paper to electronic processes on our platform increase at a rate of 69% per month since launch.”
Arnold continues, “Waivers sent out for electronic signature through Lienwaivers powered by Built are returned on average in 2.8 days, compared to 12 days for paper signatures. Builders who are adopting electronic processes on the platform are realizing the benefits of reduced paperwork and streamlined pay cycles. Now, with the addition of electronic notarizations, we are able to extend those efficiencies to contractors operating in situations where notarization is required.”
“Notarize is improving the way businesses and individuals execute their most important transactions. We’re excited to launch an integration with Lienwaivers powered by Built, which for the first time in the country will empower construction companies and their trade partners to make payments faster and more securely by notarizing their documents remotely online,” says Notarize Co-Founder and COO, Adam Pase.
With Lienwaivers powered by Built, lenders, contractors, title companies and property owners can automate their disbursement process and build better relationships with their contractors, all at a price point that competes with the cost of a check.