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Buildertrend Redefines How Construction Teams Manage Finances with an Expanded Line of Services

<strong>Buildertrend Redefines How Construction Teams Manage Finances with an Expanded Line of Services</strong>

Buildertrend, the leading residential construction management platform, will announce an expansion to its suite of financial services for home builders and remodelers during this year’s International Builders’ Show. The latest solutions – including online payments, expense management, lending and insurance – will drive efficiencies and profits while enabling teams to move forward confidently against industry headwinds like labor shortages and inflation.

This announcement and rollout comes just two years after Buildertrend acquired its largest residential software competitor, CoConstruct, and CBUSA, a group purchasing organization for top home builders and suppliers across the United States. Since then, Buildertrend has also acquired Square Takeoff, a system for digital estimating.

With the combined resources of these companies working together, Buildertrend has now firmly cemented itself as the one place for home builders and remodelers to better their business by showcasing a breadth and depth of new offerings previously unseen.

“From day one, by designing a product that solves our customers’ greatest challenges, we’ve been committed to finding a better way. Now we’re taking it a step further,” said Dan Houghton, CEO and cofounder of Buildertrend.

“The landscape of construction is changing, and we needed to change with it – but we couldn’t do it alone. Today, we’re leveraging the power of some of the best businesses industrywide to work together and help builders streamline financial processes to grow their businesses in a way that hasn’t been done before in the residential building market.”

Helping construction teams manage finances simply and precisely, this new line of services will include:

  • Buildertrend Payments: Right from the Buildertrend platform, customers can deliver invoices and collect payments from clients, as well as manage bills and send payments to trades. No longer will builders have to chase down checks or guess where the financial health of their business stands. They’ll more quickly receive funds to start their next project while also maintaining strong subcontractor relationships.
  • Insurance: All-inclusive, low-rate coverage options include business insurance – such as general liability, tools/equipment and commercial and auto compensation – as well as builder’s risk insurance. Construction is unpredictable – coverage ensures builders don’t leave their profits to chance.
  • Financing: Whether Buildertrend customers need a quick loan to bridge the gap between one job and the next or they want to offer financing for homeowners, now they have options. Home builders can turn to Buildertrend when they need funding to grow their business or want loan options to win over clients.
  • Buildertrend Wallet: This soon-to-be-released feature is made to fit any-sized construction business with tools for real-time expense and budget tracking. Builders can empower their crew with employee spending cards, automate receipt collection and earn cashback rewards on all purchases. Buildertrend Wallet helps teams take control of their finances and proactively manage company spending in one place.
  • App Marketplace and Open APIs: Another upcoming release for builders to get excited about in 2023 is Buildertrend’s third party app marketplace and associated open APIs. Debuting later in the year, this new functionality makes it possible for the platform to integrate with a larger set of tools and software systems, including more accounting solutions. Additionally, Buildertrend will then be able to easily sync with dozens of other programs including applications within the categories of CRM, analytics and data, email and documentation.

“Our aim with these new financial management solutions is to unlock more value for our builders and provide them all the tools they need to confidently manage and grow their businesses,” said Andres Ricaurte, senior vice president of Financial Services. “Reducing costly mistakes. Easily managing incoming and outgoing expenses. Getting enough capital to not just maintain their business – but grow it. This is what our customers have to look forward to.”

News of these new financial management solutions will be shared for the first time with customers at the International Builders’ Show in Las Vegas, Jan. 31 – Feb. 2. Buildertrend will offer the ultimate experience for attendees. Their team will be stationed alongside subsidiaries CoConstruct and CBUSA in the West Hall’s nextBUILD space at booth W1844.

Each day will include a full schedule of programing LIVE! on the Buildertrend Stage, including exclusive product sneak peeks as well as discussions and happy hours hosted by industry influencers like Matt Risinger and Brad Leavitt.

Check out the full action-packed schedule and why the Buildertrend booth is the place to be at IBS here: https://buildertrend.com/ibs-2023/