Built Technologies, a fast growing U.S. construction finance platform, announced today partnering with construction accounting and enterprise resource planning (ERP) firm Sage to integrate its project documentation and payment management solution within the Sage 300 CRE solution, according to a press release.
The company says integration will position Built’s Lien Waver Management and Built Pay products into the Sage 300 Construction and Real Estate (CRE) solution, and will follow with integration into the Sage 100 Contractor and Sage Intacct products later this year.
As a result, it says that general contractors will now be able to link project and compliance details to reduce risk, simplify invoicing and further digitize payment processes for construction jobs, accelerate turnaround times for submitted invoices, and reduce time for draw requests approvals and contractor received payments.
Built says this integration offers a construction-first payment solution that supports compliance documentation and payment tracking, and enhances subcontractor compliance by tracking of all documents related to invoice payments and approvals.
The company also noted that its eSignature solution enables creation, tracking and management of compliance documents that enhance Sage’s invoice management processes for customers. It added that the integration leverages hh2 Cloud Services to pull data from Sage for use in this payment and compliance tracking.
“We built this extension for Sage users because it is a major presence in back offices across the construction industry,” stated Chris Boyd, a product Vice President at Built Technologies, in the release.
With an estimated 173 million people interested in bundling their digital activities, financial institutions have an opportunity to consolidate these relationships, regaining their position as first-app status from the super apps and power platforms.
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“Our modern payment solution is designed for construction, and this integration helps companies better leverage their existing technology investments. One of the best ways to keep the top subcontractors, suppliers and vendors for your jobs is by paying them on time with as little friction as possible, and this Built-Sage integration expedites that for builders,” Boyd said.
Built also noted that its additional integrations planned for this year, including the Sage 100 Contractor and Sage Intacct systems, will enable customers to easily adopt Sage business management software solutions with Built’s construction finance solutions.
It added that it is actively working on launching integrations with Procore, Quickbooks Online and Quickbooks Desktop, in a push to add additional ERP integrations to support the overarching construction industry.
In other recent proptech news, oHouse raised a $182 million Series D for its home improvement marketplace. Material Bank also raised a $175 million Series D from Brookfield Growth for its architecture and construction material sourcing marketplace.