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08–10 OCTOBER 2019 | NEC | BIRMINGHAM News

COINS Solution Aims to Streamline the Construction Subcontractor Payment Process

08 Jun 2021
Jane Redfern
Construction Industry Solutions (COINS)
Streamlining the subcontractor payment process has benefits for everyone involved, such as improving efficiency and reducing the risk of costly adjudication for construction businesses, as well as helping to improve forecasting and cashflow for subcontractors.

COINS have launched a powerful construction solution, COINS Subcontract Controller, which digitises the application for payment, valuation, variation and certification process, helping contractors and home builders to make the move away from paper-based systems resulting in substantial time and cost savings.
 

Boost relationships with construction subcontractors
Key information is held securely in the cloud, enabling everyone involved to access crucial details such as payment dates. This keeps the subcontract application and payment process on track, reduces payment disputes, improves cashflow, and boosts collaboration between contractors and subcontractors.

Reduce risk
Non-compliance with timings specified for issuing Payment Notices and Payless Notices, defined by the Construction Act and contractual agreements, can result in costly adjudication. COINS Subcontract Controller will safeguard your business by creating automated alerts of looming deadlines.

Applications for payment are also cross-checked with the subcontractor insurance information held in COINS – protecting against expired insurance policies.

Eliminate paper
Say goodbye to mountains of paperwork. Digitising your subcontractor payment processes will not only reduce manual errors but will save many wasted hours printing, scanning, and emailing paperwork – which is also great news for sustainability.

View information instantly
Fully customisable dashboards provide a real-time overview of subcontractor orders, applications and payments,​ improving accuracy and accountability. Benefit from a complete audit trail, end-to-end, as COINS Subcontract Controller is fully integrated with other COINS solutions.

Construction Industry Solutions (COINS) is a leading construction management software and services company providing end-to-end business solutions to the construction, engineering, home building and service sectors. https://www.coins-global.com/ 

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