With the new integration, Billd’s financing offerings are now available to joint customers, including those who use BuildingConnected, Autodesk Construction Cloud’s builders network featuring more than one million construction professionals, and Bid Board Pro, a solution that centralizes bid invites in one place and allows trade contractors to easily track project files, deadlines, and more during each stage of the bidding process.
Billd has taken major strides in the construction industry to provide financing terms that align with payment cycles. Trade contractors and suppliers are typically the last to get paid, waiting on average over 85 days. A recent U.S. market report from Billd that surveyed over 500 contractors found that 63 percent of contractors pay for materials before receiving payment for their work, while 74 percent of contractors have terms with their suppliers of 30 days or less. Billd works to help alleviate this financial burden and allows trade contractors to buy commercial materials upfront and get projects started faster.
“Typically, trade contractors need to finance their projects without getting paid upfront, which can create a substantial cash flow burden,” said Sidharth Haksar, Head of Construction Strategy, Autodesk Construction Solutions. “With material prices continuing to rise, trade contractors have an increasing need to manage their working capital more efficiently. Through our joint initiative with Billd, trade contractors on Autodesk Construction Cloud will be able to directly access unique cash flow management and project financing solutions so they can bid, finance, and complete more projects to grow their business.”
“Lack of supply chain finance resources has shortchanged trade contractors for decades, causing lost bids and severely straining their bottom line,” said Chris Doyle, CEO of Billd. “We’re thrilled to roll out new finance offerings and this new integration, directly linking Billd’s reliable material finance solutions right to Autodesk Construction Cloud, where leading teams are already collaborating throughout their project lifecycles.”
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