Obtaining accurate tier vendor lien waivers during the course of a construction project can be quite a challenge for general contractors. Subcontractors are habitually forced to estimate their outstanding tier vendor expenses when submitting their pay applications due to the unique timing considerations in the construction pay cycle, which frequently results in inaccurate tier waivers. Because of the discrepancy between these estimates and actual costs, GCPay developed the revisions console as part of our tier vendor refactor, from which GCs can update historical tier liabilities and even generate new, accurate waivers.
When changes are made to a historical tier billing, GCPay will check to see if that revision impacts any previously generated waivers. For example, if a tier vendor waiver template contains a field for Total Due and a GC revises the amount listed in the Due This Period column, GCPay will offer to generate a new waiver and resend it to the contact on record.
Understanding the Importance of Roles within the Approval Process
In most industries, an invoice is simply an invoice. In construction payment management, a subcontractor invoice must undergo stages of verification before it can be approved for payment. Lien Officers must review waivers, Compliance Officers must verify compliance, and Project Accountants must confirm that subcontractor billing matches the actual work completed. GCPay offers a list of roles available to each user added to a project, with each of these roles having unique project permissions.
A key benefit of using GCPay for payment management is the ability to define and enforce complicated approval routing workflows. There are several different ways that you can establish approval workflows in GCPay to fit your needs.
GCPay recently released an enhancement to our ePayment feature which introduces a new role called the “Treasury Assistant”. This permission profile is designed for users responsible for preparing payment batches. With the Treasury Assistant role, you can efficiently prepare and queue payment batches, ensuring accuracy and smooth processing. The chart below shows the permissions granted for the new Treasury Assistant role and how it differs from the traditional “Treasury Officer” role.
The team at GCPay has spent the last year developing and migrating our entire site to a new environment within Amazon Web Services (AWS) and it is now LIVE!This new environment is built on a modern framework that leverages Infrastructure as Code—managing and provisioning hardware using scripts—
to scale our hardware needs based on traffic, and reduce many of the challenges we previously endured when deploying new feature releases. Migration to the new environment involved a tremendous amount of planning and coordination between our security, development, and DevOps teams to ensure a seamless cutover. I’m beyond proud of the team’s efforts and how this migration continues to demonstrate our ongoing commitment to making GCPay bigger and better.
Here are just some of the benefits of the new environment:
It’s SOC 2/ISO2700 certified, the “gold standard” in operational competency and security controls.
Hardware resources scale based on demand to ensure speedy application performance for users.
Contemporary performance monitoring tools ensure reliable performance of the site and alert us to any atypical behavior.
The groundwork has been laid to develop to deliver valuable reporting and business intelligence insights via API.
We’ve ensured GCPay’s continuity going forward.
All of this adds up to a platform that is not only state-of-the-art but sets GCPay up for success in the future, as well. Thanks for trusting us to make your GCPay experience world-class. We are so excited about the possibilities the new AWS environment offers for our clients!.
Construction Lien Best Practices
Join us for an on-demand webinar created exclusively for GCPay by Peter Ryan and Aaron Flores, managing partners of Flores Ryan, LLP. In this 30-minute presentation, they'll discuss construction liens and best practices for general contractors, from their unique legal perspective.
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