c d8a

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City: Atlanta

State: Georgia

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Country: United States

cd8a captures data through the commercial construction financing process. In every commercial construction project, subcontractors submit invoices to the General Contractor (GC). The GC creates their AIA G702 and G703 forms to be signed by an office of the company, the architect on the project, and a notary public. The GC submits this package of potentially hundreds of invoices to the developer in what&s;s known as the "Application for Payment", or pay app. The developer adds in their soft costs (marketing, design, architecture, etc.), and submits that package to the lender, or in many cases, a loan service provider. From GC to developer to servicer to lender, every invoice is manually entered every month for every project. There is no electronic sharing of data up this chain, so the financial analysis of the monthly progress of the project is done manually, which means manual data entry. cd8a removes the time - 2 to 10 hours per draw per month - associated with that manual data entry by applying crowdsourcing to complete the data entry in minutes, as opposed to hours or days it takes an analyst or accountant. cd8a also securely stores all data electronically, making it a simple task to review past invoices or do discovery in the event of litigation.

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