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Built with Billd: Improving financial visibility in construction

Published: September 20, 2021
Last updated: April 19, 2022
Read time: < 1


Supply chain issues, labor shortages, and outdated technology negatively impact the financial health of many construction companies. Before co-founding Briq, Ron Goldshmidt realized that the financial technologies available to construction companies were difficult to implement – and, because they weren’t designed specifically for construction, they rarely fulfilled the needs of the industry. 

Finance teams within growing construction companies are limited by their budgets and often don’t have enough resources to enable accurate financial tracking. Briq, a corporate performance management solution built specifically for construction, is aiming to solve these problems. By streamlining and automating financial workflows, Briq enables smarter financial decision making while decreasing the likelihood of errors.

By improving the way you track finances, you are able to more accurately track budgets, making project planning, in turn, significantly easier. Unlocking the ability to see your cash flow in real time allows you to take on more projects with greater confidence.

“ Construction CFO’s have the worst job in the world… They have several hundred projects, sometimes more, in their portfolio that they have to keep tabs on; all moving at different cadences at the same time; all without a ton of support from a technology perspective… Luckily there are some really great things come aboard the industry” – Ron Goldshmidt, CRO and Co-founder, Briq

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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