Strong Cash Flow for Contractors
How LMS Project Promotes Strong Cash Flow for Contractors
Traditionally, taking on new-build construction projects means coming out-of-pocket to pay suppliers and subcontractors. The downside to this approach is that you often end up funding client projects out of your company’s accounts, which disrupts cash flows and puts you under financial strain, especially when delays occur.
In the past, there were few alternatives available. Fortunately, that’s no longer the case. LMS Project offers a better way. Our construction payment management solution pays subcontractors and suppliers out of a continually replenished fund. The lender funds the account, and you draw from the account, ensuring you get paid in days, not months.
Key Benefits for Contractors
Online Budget Tracking
LMS Project also digitizes budget tracking. You’ll gain real-time insights into budgets and can use these insights to guide financial planning processes.
How It Works
Once beginning a project with LMS Project, you’ll be able to submit invoices and draw funds from a continually replenished fund. Here’s how it works:
Submit invoices digitally for approval
Submit lien release documentation digitally
Invoices and other documents are approved automatically
Funds are issued via electronic payments
LMS Project uses its network of financial partners to expedite payments. Most payments are initiated within 24 hours of receiving your invoice or lien release documents. The process is the same, regardless of whether you are submitting invoices for your business or for a supplier or subcontractor.
While there are plenty of great reasons to adopt LMS Project, the most obvious reason is that our platform protects your cash flow. With our platform, you can:
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Access documents and project insights from anywhere via the cloud
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Ensure secure and automated transactions
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Improve project tracking with real-time updates
Additionally, our platform saves you time and allows you to keep your attention focused on the project, not tedious paperwork.
The Cash Flow Solution You Need
With LMS Project, you no longer have to compromise your company’s financial security to pursue growth opportunities. Instead, you can expedite payments and protect your cash flow while delivering exceptional results for clients.
Let LMS Project optimize your financial health while you focus on doing what you do best: putting your expertise to use during construction projects. Demo our platform today!
Why Choose LMS Project?
What Is LMS Project?
LMS Project is a suite of tools designed to simplify construction payment management for all stakeholders, including contractors, property owners, title agents, and lenders. With LMS, you can automate:
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Contractor payments
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Lien document submission and lien releases
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Budget tracking
Additionally, our platform breaks the check-based payment cycle, which is filled with delays. LMS can initiate funding disbursements within 24 hours of receiving lien release documentation.
Our platform also cuts down on paperwork via our fillable digital templates and form submission tools. Work smarter, save time, and protect your cash flow with LMS.
LMS Project provides the following advantages for contractors:
Positive Cash Flow
Stop funding customer projects from your pocket and quit juggling subcontractor and supplier invoices. Use LMS project to eliminate funding gaps and ensure that invoice payments come from a replenished project fund.
Less Paperwork
You’ve got enough responsibilities on your plate. The last thing you need is to become inundated with lien release paperwork and tedious submission requirements. LMS reduces manual paperwork by digitizing invoices, disbursement approvals, and payment records.
Automated Lien Releases
Lien releases are handled automatically. This ensures compliance while accelerating payouts.
Positive Cash Flow
Stop funding customer projects from your pocket and quit juggling subcontractor and supplier invoices. Use LMS project to eliminate funding gaps and ensure that invoice payments come from a replenished project fund.
Less Paperwork
You’ve got enough responsibilities on your plate. The last thing you need is to become inundated with lien release paperwork and tedious submission requirements. LMS reduces manual paperwork by digitizing invoices, disbursement approvals, and payment records.
Lien releases are handled automatically. This ensures compliance while accelerating payouts.