What does it look like to manage your notices, lien waivers, and other payment paperwork in the 21st century? According to leading electrical contractors and suppliers across the country, using a streamlined software platform to keep lien rights protected is the way to go.
As your business grows and you take on more jobs, it becomes harder and harder to create, send, and track your preliminary notices — which, in some states, are required to protect your right to file a lien. And, even when not required for lien rights, these notices are often vital to ensuring you get paid on time.
Managing lien waivers at high volume is usually a nightmare in itself. However, gone are the days of spreadsheets, overstuffed filing cabinets, and trips to the post office. If you want to manage your paperwork the modern way, lien rights management software is your best bet. Here’s how major electrical suppliers and contractors have used technology to make their notice and waiver process a breeze.
For the credit team at Consolidated Electrical Distributors (CED) in the Grand Canyon region, one of the biggest challenges is finding accurate job site information in order to set up job accounts and send preliminary notices to their many customers across Arizona, New Mexico, Las Vegas, and El Paso.
They could spend hours each week making calls to customers or asking their sales team to go back and chase down this information. Instead, they outsource this process through Levelset so 1. They aren’t wasting time that could be focused on other credit and billing processes, and 2. They can rest assured that their required notices have verified job information thanks to Levelset’s Scout Research.
“We’ve decided to outsource those things, and Levelset is a great partner for it because they provide a level of detail and attention that’s probably more than what we could do on our own,” said Kyle Yanke, CED’s Division Credit Manager.
“The value-add for the peace-of-mind knowing that everything’s verified and everything is done the correct way and up to legal standards makes Levelset a no-brainer, especially for a company my size and the volume of work we do.”
CSI Electrical Contractors
The administrative team at CSI Electrical sends out hundreds of lien waivers each month. In the past, they would send these waivers via email and attempt (with difficulty) to track what had been paid, requested, and received.
Rather than wasting time digging through emails and spreadsheets to figure out the status of waivers and notices, they now use Levelset to keep track of all their lien rights paperwork and create and send that paperwork — in a fraction of the time.
“It’s not a matter of if you’re going to use some kind of software or automation platform, but it’s a matter of what that platform will be. Any company that is growing will get to a point where it’s no longer an option to be on the fence about using a resource to be productive. When things are moving quickly, you realize that emails are just not as productive as they were before. As the company grows, we want to rely less on emails as far as tracking information.” – Nikki Sickles, CSI Contracts & Compliance Manager
Irby is a huge electrical distributor with thousands of customers throughout the country. While they have a team of credit professionals and account managers to focus on collecting payments, at a certain point, sending out each and every notice across hundreds of jobs by hand just doesn’t make sense.
They now have their preliminary notices created and sent out automatically in 48 out of 50 states so that they can ensure their lien rights are always protected and so that they aren’t taking time and resources away from other vital business operations. There’s nothing more modern than allowing technology to do your “busy work” for you!
“We now have our preliminary notices going out automatically, and I just let them fly. I was hesitant at first, but it has been very helpful,” said Thomas Box, Irby’s Director of Credit. “
“We’re all so busy, and there’s never any down time. So to have one less thing on our plates is great. That’s really what the decision to automate notices comes down to for us.”
Ready to move your lien rights management process into the 21st century?
If you want to join these and other large contractors and suppliers that are using software to manage their lien rights paperwork and speed up payment, take a look at Levelset! Check out the video below to see what it looks like for electrical contractors and suppliers to use Levelset’s lien rights management software, or request a call with our team to learn more.
Want to see how it works?
A payment expert on our team is ready to walk you through what it looks like to manage your lien rights paperwork using software.
The post How Electrical Contractors & Suppliers Are Using Lien Rights Software to Move into the 21st Century appeared first on Levelset.