Flashtract

Flashtract runs a construction billing and payment network in the United States. General contractors use it to exchange pay applications, lien waivers, compliance paperwork and payments with their subcontractors, cutting manual checking and the errors that come with it.

Services

• Pay application automation: works out the figures on each application and generates the supporting documents with the required details filled in.
• Billing rules: contractors can lock down the process so subcontractors cannot submit incorrect bills, while subcontractors store each client's requirements once.
• Lien waiver exchange: handles unconditional waivers, including second-tier and vendor waivers.
• Compliance tracking: checks document status automatically and warns subcontractors before items lapse.
• Payment information security: manages bank and payment details for clients, partners and subcontractors to reduce fraud risk.

Clients

The platform is built for general contractors and the subcontractors and vendors they pay. It sits between accounting, ERP and project management tools rather than replacing them, plugging into systems a contractor already uses.

Key facts

• Based in: United States
• Network: more than 12,000 users
• Sector: construction