Contract Simply Product Demo Video

Posted by Will Mitchell on 6/20/18 11:38 AM

Curious to see what machine learning in banking looks like for construction lenders and borrowers? We were too, so we built technology that combines AI and machine learning to change the face of construction loan management forever.

By connecting the dots between budgets, invoices, and lien releases, Contract Simply can help predict future issues and confirm everything is on track in minutes instead of days.

Seeing is believing! Check out the video below and afterward we'll set up a time to show you how it works with your draw documents.

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Topics: Trends in Construction Loan Software, Construction Loan Management, Draw Application Processing, Machine Learning in Banking

Contract Simply Uncovers $40 Billion of Excess Costs in Construction Industry

Posted by Tim Ryan on 6/6/18 4:09 PM

General Contractors are familiar with the risks associated with liens. More often than not, subcontractors file them to ensure payment for invoiced work. It's a regular part of doing business, but liens are a costly and potentially time-consuming risk for builders and lenders .

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Topics: Trends in Construction Loan Software, Construction Loan Management, Draw Application Processing

How Construction Loan Software Cuts Draw Application Processing in Half

Posted by Tim Ryan on 5/2/18 4:06 PM

Imagine that instead of biting your nails for five days (or is it nine days) manually reviewing and approving a construction draw request, you can do it half the time. Given the fact that saving time and money is the name of the game, construction loan software aims to eliminate the need for various tasks associated with draw processing using machine learning and process automation. By allowing construction loan management technology to take on the mind-numbing workload, commercial lenders see reduced loan servicing costs, fewer incidents like short pays or overpayments, and an increase in lien-free completion of projects. Oh, and they're able to process draw requests in half the time. 

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Topics: Draw Application Processing, Construction Loan Software, Construction Loan Management

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Helpful Resources

Contract Simply Construction Payments Report 2018

Contract Simply Kickstart Guide to Construction Loan Software

White Paper - Future-Proof Your Construction Lending Program from Contract Simply

Contract Simply Infographic on Construction Loan Administration

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