Digitize Construction Billing With Integrated Payments

It’s encouraging to see construction project management software leading the industry towards workflow automation and better project management. Construction software is also becoming a necessity rather than a luxury. Those who embrace technology can see business benefits such as cost efficiency, better on-site performance, an improved client experience, and smoother back-office operations.

However, one pain point that continues to persist in construction is the payment experience. According to a 2019 payment report by Levelset, about half of US contractors do not get paid on time. Furthermore, PwC research shows that US construction workers have to wait an average of 54 days to get paid.

ISVs have the opportunity to sell vendors, suppliers, contractors, sub-contractors, remodelers, and more on improving the payment process through integrated payments within their construction management and billing software.

The Burdens of Construction Billing

The absence of technology isn’t entirely to blame for lengthy payment timelines in construction. Lack of visibility down the chain, local building regulations, and complex contracts also play a role.

Even though the scope of work is complete, convoluted approval processes increase the chances of delayed projects, stop-work orders, and miscommunication, which only leads to frustration for all parties involved.

Still, building construction software is a technological tool that can help manage the process. Developers can improve the billing process through invoicing, providing various payment methods, and Subscribe Now

How Building Construction Software Can Improve Payments

It is best practice for workers to submit their construction invoices right away once their project is complete, especially for those who are further away from general contractors and other top-of-chain parties. Creating invoices through software can partially automate the tedious process of entering job details, labeling work products, and attaching requested documentation.

The ability to email invoices allows for payees to instantly request payment, versus having to print documents, spend on postage, and wait days for the postal service to deliver. Additionally, it creates a communication trail that can easily be tracked, reducing the chances of one party saying, “I never received the invoice in the mail.”

ISVs can upgrade their invoices by integrating digital payment functionality such as ACH and credit cards, in addition to modern features like text to pay and digital wallet acceptance. The ability to offer “card not present” options allow both parties to request and send payment no matter where they are located.

For businesses that transact with parties who don’t have access to digital payments, integrated payments gives them the flexibility to accept “card present” transactions, ensuring all customers can pay in their preferred way.

Why Payees Should Accept Digital Payments

For payees, accepting credit cards and digital wallets mean getting paid faster and improving cash flow. Credit card processing only takes an average of one to three business days. While still an electronic payment method, ACH billing takes an average of three to five business days to process.

Paper or electronic checks take an average of two days to process. But waiting for them to arrive in the mail, in addition to making sure they don’t bounce, adds to the timeline of getting paid.

Additionally, accepting credit cards can build trust with specific payers, such as those who want the protection that credit cards offer and an easy trail for them to trace. Lastly, offering a variety of payment methods is a great way to accommodate clients, allowing them the opportunity to pay with their preferred payment methods.

Why Payers Benefit With Digital Payments

For those who need to pay for construction work, making a payment electronically is comfortable and familiar. Using a credit card provides payment flexibility and the chance to get work done now. There’s no need to have the cash on hand to cover the job costs for each progress billing. They also have the opportunity to take advantage of the rewards associated with their business or personal credit card.

How Integrated Payments Provide Value to Construction Software

Developers don’t have to restrict their software to a desktop-only payment experience. Integrated payments can make mobile functionality and embedded commerce a reality.

Workers and managers already rely on mobile phones to get relevant information for the job at hand, in addition to real-time updates that allow for efficient communication up to and down the chain without the need to be in the same place geographically. Why not extend this to payment transactions?

When integrating mobile payment functionality, additional hardware to accept credit cards is not required. Instead, invoices sent via email or text will include a unique statement profile link. From there, the recipient will be able to view the invoice and pay by entering their credit card details: no user login or password required.

Additionally, accepting digital payments within your software will result in increased operational efficiency. Offering this much-desired and streamlined experience for payments can allow developers to promote a complete construction software solution.

Promote Safety and Security with Integrated Payments

Another incentive for offering integrated payments is fraud prevention. While checks continue to be a standard payment method for businesses, they are unfortunately susceptible to fraud. Paper checks display critical account information, increasing their chances of getting forged or stolen.

To combat fraud, ISVs should include a comprehensive security solution that includes features such as encryption and tokenization, which help to protect sensitive data such as the cardholder’s name and primary account number.

When processing and storing credit card data, it’s also essential to ensure your payment solution is PCI compliant. If you’re unsure whether you are meeting PCI standards, partnering with a payment processor like Global Payments Integrated can help you reach and maintain this goal.

Our advanced security services bundle actively works to protect credit card data and prevent fraud. We also offer a program to help ISV customers stay PCI compliant in simplified ways through online self-assessment questionnaires, network scans, and more.

Lastly, offering digital payments through integrated solutions allows your customers to provide touchless payment options to their clients, allowing them to safely conduct business while strict health and safety precautions are in place.

Integrated Payments Complete Construction Software

ISVs that make integrated payments a priority set themselves up to be an all-in-one technology solution provider. Payment integrations are a great way to create a “sticky” product experience, as customers no longer need to work with additional third-party vendors to develop their ideal payment experience.

Enhance Your Construction Billing Experience

Digitization and automation are slowly changing the construction industry. Building construction software developers should strive to include payment functionality as a feature to maintain an edge over competitors. Doing so enhances the way clients want to pay while improving the way construction workers get paid.

ISVs can partner with a payments processor such as Global Payments Integrated to begin offering payments with a relatively short time to market. Our flexible partnership model allows you to focus on software development while our solution provides advanced payment capabilities and regulatory support.

Contact us to learn more about our revenue sharing partnership opportunities specifically designed for the construction software space!

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JNSS Agenda

4:00 PM - Hotel Registration & Check-in

Check into your room, get settled, and prepare for the Welcome Party!

6:00 PM - Rooftop Welcome Party @ Los Gallos Mexican Restaurant

Join us at Los Gallos and start this summit off right! Drinks and hors d'oeuvres will be served.

9:00 PM - After Party @ Moonlight Lounge

Celebrate a day well-traveled with drinks, dancing, and good company.

8:00 AM - Breakfast

Food will be available in the exhibit hall before the start of the conference.

9:00 AM - A Look into the Future of JobNimbus

Special announcement from our CEO, Ben Hodson, about new solutions coming to JobNimbus!

10:15 AM - Mastering Your Boards

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11:30 AM - Automation Domination

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12:00 PM - JobNimbus Best Practices - Customer Panel

JobNimbus Best Practices led by current JobNimbus Superusers.

3:00 PM - Breakout Session #1

  • Creative Hiring @ The Red Pool
  • 1099 vs. W2 - Tips & Tricks @ The Eden Pool
  • Product Feature TBD @ Moonlight Lounge

4:00 PM - Breakout Session #2

  • Build Reports That Get Results @ The Red Pool
  • Coffee Talk @ The Eden Pooll
  • Get Connected With Our Integrations @ Moonlight Lounge

7:00 PM - Dinner Party on the Beach

It's a party on the beach in Cabo! Dinner will be served in our custom dug-out beach area. Enjoy this unique experience!

9:00 PM - After Party @ Moonlight Lounge

Put on your dancin' shoes! Leveling up is hard, come let loose at the after party. Grab a drink and chat with great company!

8:00 AM - Breakfast

Food will be available in the exhibit hall before the start of the conference.

9:00 AM - The Importance of Company Values

Create more than just a job—establish a culture that no one wants to leave. Discover how to build your business around a core set of values.

10:00 AM - Leverage the Partner in Your Pocket

Learn about our new key features of our mobile app and what it can do to increase your team communication and efficiency.

10:30 AM - Get the Most Out of JobNimbus Integrations

See all the ways integrations can speed up your processes and help you grow your business.

12:00 PM - JobNimbus Best Practices

Boards are your best friend in JobNimbus. Learn how to use Boards to master your visibility and customization.

3:00 PM - Breakout Session #1

  • - 1099 vs. W2 - Tips & Tricks @ The Eden Pool
  • - Getting Your Team On-Board @ The Red Pool
  • - Simplifying Payments @ Moonlight Lounge

4:00 PM - Breakout Session #2

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  • - Product Feature TBD @ Moonlight Lounge

6:00 PM  - Crew Party @ Serrenade Terrace (Crew-members only)

Calling all Crew members! We have an exclusive tequila-tasting experience for you, and you guessed it—a cornhole championship!

7:00 PM - Awards Dinner @ Muse Terrace

A thank you dinner to recognize what matters most to JobNimbus: our contractors!

9:00 PM - After Party @ Moonlight Lounge

Saying goodbye is never fun. One last after party to get everyone together with drinks and dancing, of course.

8:00 AM - Breakfast with Execs

Food will be available in the exhibit hall before the start of the conference.

9:00 AM - Simplifying Payments

Payments shouldn't be something to stress about. Let's break 'em down to simpler terms.

9:30 AM - **Special Announcement**

We are so excited to share this special announcement with our attendees! This is something you'll want in on from the front lines.

10:30 AM - Keynote Speaker

Special speaker TBA—stay tuned!

12:00 PM - EVENT END

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