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Eque2 recognise the importance for contractors of maintaining good relationships with their subcontractors and having accurate visiblity of cash flow whilst ensuring compliance with the UK Construction Act.
WebContractor powered by Open ECX is an innovative simple to use online portal which manages the end-to-end process of subcontractor orders, applications and payments. Subcontractors can easily upload their applications into the portal where an automated work flow manages the processing and calculation of an application, through to approval, payment and audit. In addition, WebContractor manages subcontractor invoices, insurances and bonds, minor works and work order instructions, and authenticated VAT receipts.
To help Eque2 customers explore how this solution can help within their businesses, we have outlined common benefits below. WebContractor is complementary to your back-office finance system. Read the full case study here to see how Readie Construction, an EVision user, benefit from using WebContractor.
“Through WebContractor we’ve been able to significantly streamline the application for payment process, free ourselves from the paper mountains we were managing each month and take control of our cash flow requirements.”
Fundamentally, WebContractor reduces corporate risk for main contractors by providing complete visibility of subcontractor costs as well as clear risk assessments for each project helping avoid unknown or understated subcontractor costs.
WebContractor allows you to report on key financial milestones across your supply chain helping you predict and react to potential overspend against budget on every project.
WebContractor helps keep track of all subcontractor applications and their progress through your organisation through a simple to use portal at no extra cost to your subcontractors.
WebContractor allows you to integrate key dates and notifications to ensure everything is fully compliant with the UK Construction Act as well as addressing the HMRC requirement for authenticated VAT receipts.
Tasks such as dealing with enquiries from subcontractors chasing payments from accounts teams will be a thing of the past as they will have full visibility of the payment application process.
WebContractor can be adopted quickly and accessed remotely via an easy to use online portal that can be used on multiple devices.