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Built with Billd: Construction Technology, Where We Were, Where We Are, Where We’re Going

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Published: January 08, 2021
Last updated: April 19, 2022

 

Summary

Construction technology is an evolving ecosystem. On this episode of the Built With Billd podcast, Billd’s Director of Business Development Robbie Reynolds explores the growth of construction tech in the past, present, and the future alongside Procore’s Nate Tockerman (Partner Manager) and Kris Lengieza (Sr Director of Global Partnerships & Alliances). In an industry that has long been slow to adapt to technological advances, construction has begun to embrace new technology for project management, financing, job site safety, and so much more.

As we discover in the podcast, construction technology is improving very quickly. As Robbie, Nate, and Kris discuss, this is because the construction industry was not an early adopter to tech. This slow early adoption was not for lack of need; rather, the slim margins in construction stood as a barrier to investment in technology for small and mid-sized construction companies.

But as time has gone on, these same companies have begun to realize that – by utilizing technology in the right way – they can increase their margins, get ahead of their competition, and ultimately grow their business.

For a long time, the industry has underspent and under-invested in technology. If you’re willing to focus your time and your energy on implementing it, the opportunity for you as a first mover is huge.” – Robbie Reynolds, Director of Business Development, Billd

About Billd: Billd stands alone as a partner that truly champions the subcontractor. Founded in 2018 by two industry veterans in both construction and finance, Billd’s construction-specific financial and payment products empower subcontractors to overcome the impacts of the longstanding broken payment cycle in construction. Billd offers access to working capital solutions to cover subcontractors’ most pressing costs, including materials and labor, providing flexible credit to accommodate the unpredictability of cash flow in construction. Billd’s patented analytic and financing methodology allows subcontractors to stabilize cash flow and more effectively grow their businesses.

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