CAPITAL CONTRACTORS, INC. ENHANCES ITS INNOVATIVE PREFERRED SERVICE PARTNER PLATFORM
ISLANDIA, NY August, 2016 – Capital Contractors is pleased to announce a major upgrade to its state-of-the-art, custom-designed preferred service partner platform which significantly increases cash flow and reduces the administrative burden for Capital’s preferred cleaning company partners. Capital’s groundbreaking platform is not new, but it has gone through several enhancements since its inception and now offers more benefits to its preferred vendors than ever before.
First, Capital’s platform eliminates the need for preferred vendors to submit invoices to Capital for work performed. Instead, a monthly vendor payment statement referred to as a work order summary, or “WOS”, is generated automatically each month from data entered into the system when the job is first set up. This WOS payment statement is then sent electronically to Capital’s preferred vendors each month, allowing them to review and sign them right from their smartphones or tablets through Capital’s partnership with the award-winning DocuSign electronic signature platform. Capital then pays its preferred vendors in full for all recurring monthly work within 15 days of the end of each month, and sends payment electronically so that its preferred vendors don’t have to wait for physical checks to clear.
Capital’s recently-launched partnership with DocuSign is a huge step forward for its preferred vendor platform, and has proven to be extremely advantageous for everyone involved. Most of Capital’s preferred vendor partners spend most of their time working at customer locations in the field instead of sitting in an office handling administrative tasks. Their ability to now review their monthly WOS payment statements on their smartphones and electronically sign-off on the work performed with the DocuSign app has been instrumental in allowing them to more effectively manage their business and get paid faster!
Capital’s preferred vendor platform was specifically designed to help its preferred vendors improve their cash flow, allowing them to put all of their focus on delivering best-in-class commercial cleaning services to Capital’s customers, instead of spending their time in the office worrying about payroll. Instead of being forced to spend days or weeks preparing service summaries and submitting invoices to Capital each month to get paid, Capital’s preferred vendors now have their WOS payment statements prepared for them and sent electronically for on-the-spot approval and preferential payment. Of course, Capital still recommends that its preferred vendors compare the WOS payment statements to their own internal records to ensure they are correct and complete, but Capital’s accuracy track record to date has been outstanding.
In addition to supporting the invoicing and cash flow process for its preferred vendors, Capital also supports the compliance function. It is very important that all preferred vendors remain in good standing with their insurance policies in order to minimize their business and financial risks, and Capital’s WOS payment statements include clear reminders for preferred vendors to renew insurance their policies based on approaching expiration dates. This is also extremely beneficial to Capital’s end customers.
Capital’s groundbreaking preferred service partner platform represents a major cash investment for Capital, but it has yielded outstanding returns. Capital partners with the most experienced, capable and reliable preferred cleaning vendors in the commercial cleaning industry, and Capital’s commitment to continued investment in cutting-edge technology throughout the organization will ensure the continued industry leadership and financial prosperity of both Capital and its preferred vendor partners.