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Trimble has recently acquired Flashtract, a privately-held company specializing in technology that streamlines payment and compliance processes between construction contractors and subcontractors. The acquisition, announced today, is aimed at minimizing risk and improving efficiency within the construction industry.
Flashtract’s technology is designed to manage payment applications, lien waivers, and other compliance and billing documentation electronically, simplifying communication and document transfers. This technology, now rebranded as Trimble Pay, is integrated with Trimble’s Viewpoint Vista ERP solution for construction, enhancing Trimble’s robust connected construction technology ecosystem.
The Trimble Pay technology will be showcased at the CFMA National Conference from May 18-22, 2024. Lawrence Smith, vice president of construction management solutions at Trimble, emphasized the benefits of electronic payment management: “Secure, reliable, and fast electronic management of payments and lien waivers can be vital benefits to contractors, but many still manage these processes manually.”
Blair Chenault, co-founder and CEO of Flashtract, highlighted the value of joining Trimble: “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.”
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By Proptechbuzz
By Ravi Kumar
