Trimble Acquires Flashtract, Now Trimble Pay
BY Meredith Bagnulo
In May 2024, Trimble acquired Flashtract, a company that delivers specialized technology to streamline the flow of payment and compliance information between construction general contractors and subcontractors.
This is good news for paving contractors that pay various subcontractors for services such as milling, striping, work zone safety management, etc. Current payment processes can be daunting and time consuming, from collecting payment applications through email, to tracking down lien waivers and replacing expired Certificates of Insurance (COIs).
Subcontractors can also benefit from a centralized, online portal that is designed to make uploading, updating and viewing documents easier and more accurate. Similarly, paving companies could benefit from these capabilities when they work in a subcontractor capacity, and the potential for faster payment is a strong advantage.
“Secure, reliable and fast electronic management of payments and lien waivers can be vital benefits to contractors, but many still manage these processes manually,” said Lawrence Smith, vice president of construction management solutions at Trimble.
Flashtract technology is used to manage payment applications, lien waivers and other compliance and billing documentation electronically, eliminating back-and-forth communication and cumbersome document transfers. The technology, now called Trimble Pay, initially integrates with the capabilities of the Trimble Viewpoint® Vista™ ERP solution for construction.
With Trimble Pay, paving contractors can assign subcontracts to subsidiaries, self-performed groups, or separate divisions within their company so that billings are accurately submitted and flow seamlessly back into the contractor’s ERP system. This is designed to ensure each one is paid the correct amount along with all the external subcontractors being used on the job.
It also automatically tracks compliance information for first tier and lower-tier subcontractors. For example, instead of searching through binders or spreadsheets for COIs, Trimble Pay can send automated notifications to subcontractors upon insurance expiration, so they can be updated in a timelier manner.
“Adding the ability to manage these workflows with subs electronically through Trimble Pay helps contractors improve compliance and keep projects on schedule and budget by reducing the two to three days of manual work per month by project managers or accountants,” Lawrence said.
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Since its introduction in 2019, Flashtract has enabled contractors to minimize legal and financial risks while improving efficiency. Blair Chenault, co-founder and CEO of Flashtract, added, “Joining Trimble will allow our teams to advance these capabilities and help contractors make payments on time and keep management of financial and compliance documents from hampering project delivery.”