Sometimes it feels like a circus, orchestrating subs, labor, sales, inspections and customer expectations. Clear communication is key in minimizing slow downs and SlowPay.
Paykeeper is the trusted escrow account that makes sure the hold up is not payments.
Let’s face it, if customers aren’t happy they withhold payment. If they are happy, they are still slow to pay. As contractors we need to make sure contracts are signed, and expectations are clear. We need to hold our customers accountable for their end of the bargain as we work to uphold ours. But customers want to holdback 70% of payment until they are completely satisfied, even if 95% of the work is perfect. And that creates all kinds of headaches for contractors. It puts our accounts receivables behind. It puts a limit on what we can spend at suppliers. It wastes personnel time chasing down customers.
Paykeeper shifts retention from ~70% to 5%
You read that right. 5% not 70%. Most disputes are over something simple. The customer calls and complains, you have to go inspect the site, get the work done, and then collect—which can take months. With Paykeeper, the customer takes a picture of the work they’re not satisfied with. Usually it’s a small bit of damage to a mailbox or a raingutter or a bit of sheetrock needs to be repaired. The photo comes to you and you arrange for someone to fix it. In the meantime, Paykeeper has released funds upon completion of milestones along the way. The last 5% is withheld until the customer is satisfied.
Using Paykeeper will increase your productivity and your profitability.
Call now for a free 15 minute demonstration.