CINCINNATI (GLOBE NEWSWIRE) — Struxtion, LLC is announcing its Early Pay Program (EPP) is available to general contractors (GCs) in the commercial construction industry. EPP, which allows GCs to pay subcontractors significantly faster with no additional effort or processes, turns the current 83 average days outstanding to on-demand payments. EPP is part of Struxtion’s suite of products that accelerate payment transactions in commercial construction. This is a much-needed innovation in an industry that sees $100B annually in wasteful costs due to its historically slow payment cycle, according to a recent report.
“Struxtion’s technology has the ability to remove significant time, friction, and risk from the payment cycle. We’re excited to make EPP available to general contractors,” said Gregg Lund, CEO and Founder at Struxtion.
EPP utilizes Struxtion’s core technology that connects construction project and stakeholder data to provide a turnkey, cost-free solution for GCs. Struxtion markets and administers the EPP program and provides 100% of the capital, making this a win-win for GCs and subcontractors.
“This is only the beginning as we’re in the early stages of delivering on a roadmap that will continue to positively impact the efficiency of the $1T commercial construction industry,” Lund added.