Gold Builder/GC Commercial $6 million to $25 million
Throughout the years, CCI (Construction Coordinators), Needham, Mass., has grown by adhering to an effort to educate employees, as well as to a commitment to employ technology. Founded in 1991, the company actively seeks to implement new tools and the opportunity to continue to set new standards for construction service.
One area in which it recently engaged technology was in managing the vendor payment process. Because CCI could not pay vendors without having all of the paperwork in order, there was strong incentive for vendors to get it right.
But far too often and for far too many vendors payments were delayed because of missing documents. “We were spending a lot of time generating progress payments to vendors on our projects, and most of the time was chasing documents,” relates Mark Fisher, president, CCI.
Then, as part of the contract agreement for a multiphase shopping center renovation, a major client required that the builder use, for any subcontractor or supplier work exceeding $10,000, a construction management payment system.
For CCI the approach offered a way to organize the sub payment process—and it forced subs to be organized, paving the way to a much faster payment process. With technology the owner was offering to deposit payments electronically into each vendor’s bank account in about four days!
The technology allows subcontractors and CCI to access the project financial data. Approved change orders, requisitions, lien waivers, work completed, and retainage could be accessed at any time, eliminating confusion about contract status.
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