Subcontractor Milestone Payment Tracker for Renovation Firms
Why This is an Opportunity
Spreadsheets are inadequate for tracking intricate payment schedules, leading to oversights and cash flow issues. An app with a dashboard view of project milestones and payment schedules simplifies this, ensuring timely payments and project progress. Reducing administrative overhead by automating milestone tracking is key.
Key Pain Points
- •Spreadsheets offer limited visibility into payment schedules
- •No automated reminders for milestone payments
- •Manual calculations for percentage-complete payments
- •Multiple subcontractors complicate tracking
- •Project delays due to payment disputes
Original Discovery
Renovation firms often work with various subcontractors, and tracking payment milestones is critical. This is currently achieved through spreadsheets, leading to payment disputes and project delays. An app that tracks subcontractor payments, linking them to project milestones and alerting firms about upcoming payments could streamline this process.
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