Andpad Inc., which operates the cloud-based construction project management service “ANDPAD,” is pleased to announce that it has released the beta version of “ANDPAD Early Receipt,” an invoice purchase type financing service, to solve the chronic cash flow issues in the construction industry. In commemoration of the release, we are currently running a campaign for first-time applicants.
In the construction industry, it is customary for it to take several months from construction to inspection, invoicing, and payment after a job is accepted, and during that time, necessary expenses such as material costs and labor costs must be paid in advance every month. Cash flow is a particular issue for small and medium-sized enterprises, and fund raising methods are limited. The “high value transactions” and “long waiting periods from invoicing to payment” that are unique to the construction industry lead to small and medium-sized enterprises that take on construction work refraining from accepting orders due to concerns about cash flow, resulting in lost opportunities, which is an important management issue from the perspective of business continuity and expansion.
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In light of this, AndPad has been conducting service verification and product development, leading to the release of the beta version of “ANDPAD Early Receipt”. By providing an option to proceed with work on site without being bound by the deposit and withdrawal cycle, we aim to support the sustainable development and productivity improvement of the construction industry.
SOURCE: PRTimes
