Main contract payment application review

This Project level Insights tool helps you monitor and optimise your payment application and billing workflows for a project. Teams can pinpoint bottlenecks in billing workflows, improve cash flow and reduce the risk of missed or inaccurate main contract payment applications.

This insight surfaces key payment application approval metrics by highlighting pending or overdue payment applications for the project. Additionally, it reveals main contract payment application creation gaps by pinpointing lags between payment application approval and main contract payment application creation. This insight helps you to:

• View the total outstanding main contract payment applications for the project.

• See the average days required to approve payment applications at the Project level, including the company and the industry averages for the relevant cohort.

• View a summary of main contract payment application status and average completion days across all active projects, with a Portfolio breakdown by project including pending and total counts.

• Analyse the main contract payment applications by status. For example, the Insights tool shows the total payment application counts alongside the count of approved, under review, revise and rebuilt and draft.

• Drill down to view outstanding payment applications by payment application.