GCPay will soon be adding preliminary notice tracking and waiver support to further augment our comprehensive tier vendor management functionality. These enhancements ensure that preliminary notices and related documents are efficiently managed within GCPay, improving compliance and reducing administrative burdens.
Preliminary Notice Checkbox
A new paperclip icon will appear when a user clicks on a tier vendor record, allowing approvers to upload and store multiple preliminary notice documents directly in GCPay. Uploading documents is optional, offering flexibility and convenience.
Dynamic Waiver/Template Requirements
Alongside offering a logical place to store preliminary notices, we're introducing a new waiver/template setting: "Require When Prelim Received - Only require this document when a preliminary notice (pre-lien, notice to the owner, etc.) has been received." This setting enables GCs to concentrate on collecting lien waivers and other documents solely from vendors who have submitted a preliminary notice, thereby reducing unnecessary administrative tasks and focusing efforts on managing potential financial risks.
Preliminary notices are essential for protecting the legal rights of contractors and ensuring project transparency. Tracking these notices helps GCs:
Mitigate Financial Risk:By knowing which vendors have submitted preliminary notices, GCs can better manage and anticipate potential lien claims, protecting project finances.
Ensure Compliance: Properly tracking and storing preliminary notices ensures compliance with state laws, reducing the risk of legal issues.
Streamline Document Management: Centralizing preliminary notices within GCPay eliminates the need for external shared drives, making it easier to manage and retrieve documents.
GCPay’s Flexible Change Order Management
In a recent GCPay market study, over 50% of general contractors expected to see more change orders submitted in 2024 than last year. So having an established change order process is more necessary now than ever.
If your change order process originates within your accounting ERP, our integrated setup allows you to maintain your current change order process and sync information for transparency and visibility between systems.
For users using supported, integrated ERPs, GCPay automatically pulls in approved change orders for subcontractors to bill against. You can even require subcontractors to further detail change order line items by using our constrained change order setting. Alternatively, you can pull them in as they were written in the ERP. Users who are not integrating GCPay with their accounting ERP, have multiple options for creating change orders:
An unconstrained change order acts like a traditional CO that would be submitted and proceeds through the approval process predetermined by the user.
A constrained change order is issued by the general contractor with a set value that requires the subcontractor to break out each line, as well as the specified amounts. This CO will need to be detailed by a subcontractor and then approved by the GC before it can be billed.
Click the button below for a step-by-step guide to creating a constrained change order.
GCPay is extremely proud to be part of Autodesk.Our ever-growing relationship enables us to take advantage of technology benefits that will further improve our customers’ accounting and AP processes. We are also excited about additional exposure at Autodesk University this year! AU 2024, held in San Diego from October 15-17, is a conference where attendees can gain new skills, experience visionary keynotes, expand their network, and discover the latest in AI and sustainable design.
The GCPay team will participate in AU in three meaningful ways:
Headlining 2 powerful sessions:
The Importance of GCPay to Autodesk’s Construction Platform
Managing Construction Billing and Payments Globally
GCPay representatives will be available to interact with customers and prospects in the Autodesk Construction Cloud (ACC) booth on the tradeshow floor.
Participation in relevant podcasts and interviews throughout the conference.
Being spotlighted by Autodesk in this way will be great for GCPay as we continue to pursue our quest to build the best subcontractor payment management platform. If you are considering going to Autodesk University this year, we encourage you to do so and we look forward to seeing you there! Find out more about AU 2024 below.
We are excited and proud to announce that we've been awarded another 23 badges from G2in their Summer2024 Reports. G2 is the largest product review site where software users come to give their honest opinions about their experience with GCPay.
Here are just some of the top rankings we received:
Want to weigh in on future GCPay features and enhancements?
We're looking to gauge our customers' level of interest in general functional areas. Please click on the button below. It only takes a few minutes to provide your input to refine our focus and guide our efforts.
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