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Built with Billd: How you can use technology to leverage your labor force

Published: November 01, 2021
Last updated: April 19, 2022
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Summary

Labor is the lifeblood of construction companies, and how well you track your labor is often the difference between achieving your margins or not. Workyard, a workforce management software, is helping contractors streamline and digitalize their labor tracking by giving them real time insights into their data. Before founding Workyard, Nic De Bonis owned a construction staffing agency where he felt firsthand the pains of inaccurate labor tracking. Workers forgetting to clock in and out, crew that would cheat hours, and the inability to break down labor cost by project were problems that technology couldn’t solve at the time.

Many time tracking softwares were not built with the construction industry in mind. Overtime rules, highly disbursed teams in the field, and prevailing wages make such solutions difficult to implement. Historically, these softwares have been cumbersome to implement and are not user friendly. They also require a lot of time and resources to properly train workforces on proper use. By creating a seamless, easy-to-use time tracking platform, Workyard is helping contractors manage and measure their crew’s work to improve project profitability.

“We’re able to connect to existing accounting and payroll systems to automatically import employees and projects. There’s virtually no setup required, and the shift to cloud-based solutions has allowed us to create seamless transitions.  – Nic De Bonis, CEO, Workyard

About Billd: Billd stands alone as a partner that truly champions the subcontractor. Founders Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance, witnessed the detrimental impact to subcontractors of the longstanding broken payment cycle in construction. Their time in the trades inspired them to launch Billd in 2018, bringing the financial power of Wall Street to the construction job site. Billd's financial and payment products empower subcontractors to bypass project hurdles by providing access to upfront funds to cover their most pressing costs, including materials and labor. Unlike traditional financing outlets, Billd provides flexible lines of credit to accommodate the unpredictability of cash flow in construction, and extends their customers up to 120-day terms to align with industry payment standards. Billd knows traditional credit metrics are poor predictors for risk and has built a variety of industry-specific, proprietary analytic and financing tools to allow subcontractors to stabilize cash flow and more effectively grow their businesses.

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