Streamline your construction billing with AR automation. Enhance efficiency, reduce errors, and improve cash flow. Discover how today!
Construction and contractor businesses face unique challenges when it comes to accounts receivable management. From progress billing complexity to the intricacies of retainage tracking and lien waiver management, these companies often grapple with long payment cycles that can stretch from 60 to 90 days. The manual processes traditionally used to handle these tasks can lead to significant cash flow gaps and disputes, particularly around change orders. ARPilot addresses these specific challenges, offering a tailored, AI-driven solution designed to streamline AR management for the construction sector.
Construction AR management is fraught with hurdles that can impact a company's financial health. Progress billing requires meticulous attention to detail, as invoices must reflect project milestones accurately. Retainage, a portion of the contract amount withheld until project completion, adds another layer of complexity, demanding precise tracking to ensure timely release. Lien waiver management is yet another critical area, as it affects legal rights and payment security. Moreover, disputes over change orders are common, often delaying payments and disrupting cash flow. These challenges, coupled with long payment cycles and multi-party payment chains, make construction AR particularly complex and error-prone.
ARPilot's AI-powered platform is specifically designed to tackle these construction industry pain points. By integrating seamlessly with existing accounting systems like QuickBooks, NetSuite, and Xero, ARPilot requires no rip-and-replace, allowing businesses to maintain their current workflows. Our AI-native solution automates AR workflows, including reminders, follow-ups, and payment plans, reducing the manual effort involved in managing progress billing and retainage. With AI-generated outreach, ARPilot expedites invoice collection, even in multi-party payment scenarios. Our transparent per-invoice pricing also ensures that businesses only pay for what they use, making our solution cost-effective and scalable.
The benefits of using ARPilot are tangible and significant for construction and contractor businesses. Most customers experience a reduction in DSO by 20-40% within just 90 days, freeing up cash flow and enabling reinvestment in projects. Our platform's automation capabilities mean fewer disputes over change orders, as invoices are generated and tracked with pinpoint accuracy. The seamless integration with existing systems ensures that there is no need for disruptive changes to current workflows or processes. Ultimately, ARPilot empowers construction businesses to manage their accounts receivable with greater efficiency and effectiveness, driving improved financial performance and operational resilience.
How does ARPilot handle progress billing complexities?
ARPilot automates the invoicing process by accurately reflecting project milestones in progress billing, reducing manual errors and ensuring timely payments.
Can ARPilot manage retainage tracking effectively?
Yes, ARPilot includes precise retainage tracking features that help ensure timely release and management of retainage amounts, enhancing cash flow management.
What makes ARPilot different from other AR automation tools?
ARPilot is an AI-native solution that integrates seamlessly with existing accounting systems, allowing for automated AR processes without the need to change current workflows. Our transparent per-invoice pricing also sets us apart.
How quickly can I expect to see a reduction in DSO?
Most construction and contractor businesses using ARPilot see a reduction in DSO by 20-40% within the first 90 days, leading to improved cash flow and financial agility.
Does ARPilot support multi-party payment chains?
Yes, ARPilot is designed to handle complex multi-party payment chains, ensuring that all parties are aligned and payments are processed efficiently.
Get a personalized demo and see how ARPilot can reduce your DSO and accelerate cash flow.
Join hundreds of companies using ARPilot to reduce DSO, improve cash flow, and save hours every week.