Credit professionals in the construction industry manage a ton of data, and rely very heavily on ERP systems to track project information, account information, and more. But what about your mechanics lien and bond claim rights?
Odds are your ERP system does little to nothing to help you manage this key compliance task, leaving your department with Excel spreadsheets, document and data overload, and headaches. It doesn’t have to be this way.
Your Mechanics Lien Plan Is Almost Useless Without Good Technology
Many companies consider themselves to have a workable “lien policy” because they are sending preliminary notices on every project. Some may even be working with lien services or notice services to automatically export project data to initiate preliminary notice deliveries.
To have true control over your mechanics lien and bond claim rights your company needs to know the status of your lien deadlines and next actions at all times. While this is a great first step, it’s only a first step. It’s like getting a ride to the airport and getting dropped off three miles away.
To have true control over your mechanics lien and bond claim rights your company needs to know the status of your lien deadlines and next actions at all times. It needs the capability to automate certain workflows and decision making. The thousands of nuances, deadlines, and lien rules across the country make this impossible without powerful technology.
How Your ERP Can Handle Your Lien Compliance Needs
If you’re a credit professional in the construction industry you’ve thought about automated mechanics lien compliance management at some point. Wouldn’t it be great if your required preliminary notices were ordered automatically, your notices of intent to liens and demand letters were sent based on set criteria, and mechanics lien deadlines were always right in front you, counting down as the account aged?
This is all possible.
Your ERP system has all the information about your projects and accounts. You just need some mechanism to read that information and turn it into actionable data. That’s exactly why levelset exists.
This graph explains how this system works:
Proprietary and patent pending technology exists to completely automate your mechanics lien and bond claim compliance program. It plugs right into your company’s ERP, and its goal is to change the way that financial risk is allocated in the construction industry.
Join savvy and technologically advanced companies across the country.