Billd and STACK Construction Technologies Announce Powerful Integration That Helps Contractors to Secure Working Capital and Increase Bid Volume
Revolutionizing the Construction Industry with Integrated Solutions for Predictable Growth and Supplier Relationships
CINCINNATI, September 6, 2023 (Newswire.com) - 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.
Phil Ogilby, STACK Construction Technologies CEO and Co-founder, is available for interviews. Please contact Darcie Burroughs at email@example.com to book and for more information about STACK and this release.
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.
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.
Source: STACK Construction Technologies