Trimble has acquired privately held Flashtract, a company that delivers payment and compliance information technology between construction general contractors and subcontractors.
Flashtract technology is used to manage payment applications, lien waivers and other compliance and billing documentation electronically, eliminating back-and-forth communication and document transfers.
Going forward, the Flashtract tech will be branded as Trimble Pay. It initially integrates with the capabilities of the Trimble Viewpoint Vista ERP solution for construction and extends the connected construction technology ecosystem that Trimble Construction One brings to market.
“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.”
Flashtract has about 3,000 contractors in its network and processes more than $100 million and generates more than 3,000 documents each month.
RELATED: Ausa acquired by Oshkosh Corporation
“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 Chief Executive Officer 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.”
Trimble Pay is expected to be available sometime this year as part of the Trimble Construction One software suite. Financial terms of the acquisition were not disclosed.
