Proven Payment, Compliance and Lien Waiver
Technology Advances Trimble Construction One Integrated
Subcontractor Management Capabilities
WESTMINSTER, Colo., May 8, 2024
/PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today it has
acquired privately-held Flashtract, a company delivering
specialized technology to streamline the flow of payment and
compliance information between construction general contractors and
subcontractors. Financial terms were not disclosed.
Flashtract technology is used to manage payment applications,
lien waivers and other compliance and billing documentation
electronically, eliminating back-and-forth communication and
cumbersome document transfers. The technology, now branded as
Trimble Pay, initially integrates
with the capabilities of the Trimble Viewpoint® Vista™ ERP solution
for construction and extends the robust connected construction
technology ecosystem that Trimble Construction One brings to
market. The technology will be showcased at the CFMA National
Conference, May 18-22, 2024.
"Secure, reliable and fast electronic management of payments and
lien waivers can be vital benefits to contractors, but many still
manage these processes manually," said Lawrence Smith, vice president of construction
management solutions at Trimble. "Adding the ability to manage
these workflows with subs electronically through Trimble Pay helps contractors improve compliance
and keep projects on schedule and budget by reducing the two to
three days of manual work per month by project managers or
accountants."
"We have earned a strong reputation for enabling general
contractors to minimize legal and financial risk and improve
efficiency since introducing our technology in 2019," said
Blair Chenault, co-founder and CEO
of Flashtract. "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."
Availability
Trimble
Pay is expected to be available in 2024 as part of the
Trimble Construction One software suite.
About Trimble
Trimble is transforming the ways people
move, build and live. Core technologies in positioning, modeling
and data analytics connect the digital and physical worlds to
improve our customers' productivity, quality, safety, transparency
and sustainability. For more information about Trimble (NASDAQ:
TRMB), visit: www.trimble.com.
GTRMB
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SOURCE Trimble