Leading Edge Construction Services Inc.
"It’s hard for me to put a figure on how much time we save by not having to search for missed or overlooked transactions – but it’s A LOT."
Leading Edge Construction Services, Inc.
Located in the San Jose and Central Valley areas of California, Leading Edge Construction Services, Inc. has a team comprised of over 100 years of experience providing general construction services for residential, commercial, public works and governmental projects. The company is committed to delivering quality maintenance and construction services with great integrity, efficiency and safety while maintaining a high level of respect and accountability to its clients.
Janell Lee-Fraley is an accounting specialist at Leading Edge Construction Services, Inc. who manages all incoming and outgoing payments.
Leading Edge Construction’s reputation for delivering exceptional service matters most to this California-based company. However, it can be difficult to maintain high standards and deliver optimal services to clients when overdue payments, a byproduct of the construction industry’s often outdated payment practices, disrupt business continuity.
The delay in funds can be detrimental for a construction company that needs liquid cash to buy supplies for the next project. A healthy cash flow is crucial to help pay subcontractors on time.
“We receive big physical checks and not only do they arrive late, we have to then take them to the bank to deposit and wait even longer for the 3-5 day hold to lift to finally have access to the funds,” said Lee-Fraley.
When Lee-Fraley joined Leading Edge Construction, its financial department had already selected to receive payments through AvidXchange’s enhanced direct deposit offering called AvidPay Direct which securely delivers funds to a bank account within three business days of payment approval.
“AvidPay Direct allows us to get our funding faster, which provides a steady receivable of deposits. We know when the payment is funded and can expect the money to be there the next day. It is fast and convenient.”
Not only has Lee-Fraley experienced faster transactions, but she also enjoys peace of mind knowing all AvidPay Direct transactions are closely monitored to prevent fraudulent activity.
Leading Edge Construction has optimized its accounts receivables process through the adoption of AvidPay Direct, choosing to receive a significant portion of payments via this enhanced direct deposit method.
Staying organized is key to managing thousands of payments, and Lee-Fraley utilizes AvidPay Direct’s remittance reports daily. Since detailed payment information is sent electronically with each payment, the reconciliation process is seamless.
“We receive the payment electronically via e-mail, apply the payment, save the document and if we missed the payment, the e-mail allows us to easily find the overlooked payment,” according to Lee-Fraley.
AvidPay Direct’s features allow Lee-Fraley and her team to reconcile faster and complete a profit loss analysis at the end of the month. With more time back, they can focus on project management initiatives to grow the business.
“Since we chose to receive payments via AvidPay Direct, it has saved our team an hour per week when applying payments and another hour around the reconciliation process,” said Lee-Fraley