Handle optimizes U.S Concrete internal credit divisions
U.S. Concrete is a publicly traded company on the NYSE (NASDAQ: USC). Specializing in concrete, heavy construction, aggregates and solutions, U.S. Concrete has multiple subsidiaries across the country such as Central Concrete and Redi-Mix Concrete, that provide concrete to hundreds of thousands of contractors every year.
Quick and efficient communication across teams within credit departments is key to protecting payments on thousands of projects. By eliminating repetitive, manual entry for each project, U.S. Concrete is able to save substantial time and money – every week.
Elimination of repetitive manual work
U.S. Concrete sends thousands of notices to contractors and owners all over the United States. This allows them to protect all of their project’s payment rights. It is absolutely essential to their cash flow that their rights are legally maintained throughout the duration of all projects. Protecting payment rights involves complex paperwork and maintenance – especially at the volume of U.S. Concrete.
Prior to Handle, these processes required heavy manual work. From finding owner information to keeping track of all payment deadlines, it can become quite a difficult burden for any experienced financial and credit department within the construction industry. Moreso, these tasks are extremely repetitive and time consuming.
“Handle has provided lien management solutions tailored to our needs that allows our credit teams to focus the time saved on collection efforts and improving our DSO.” explains Becky Kuhl, Regional Credit Manager at U.S. Concrete - Central Division.
Handle’s system has eliminated these manual and repetitive tasks for U.S. Concrete, allowing them to optimize their entire credit and payment protection processes. Credit analysts and credit managers across all orgs can now focus their attention on customers and collecting.
Visibility across all projects and teams
With many different divisions across the country, U.S. Concrete has multiple heavily distributed teams. This can cause a lack in transparency across departments, especially in the financial services divisions. Furthermore, this has been even more exacerbated by the remote work requirements of 2020 due to COVID19.
Using Handle, U.S. Concrete can now see full audit histories across all credit and collection teams with better visibility throughout the entire organization. U.S. Concrete has been able to better optimize remote work as well for all parties involved using Handle. Actions, tasks, and revisions are all automatically tracked; who edited, what they edited, and where – no matter where they are.
Handle’s system will provide the credit and collections teams at U.S. Concrete visibility across their entire organization, facilitating collaboration — especially in a remote work environment.
Automatic owner verification and deadline tracking
Before using Handle, the U.S. Concrete credit divisions were manually verifying owners and tracking all payment deadlines in spreadsheets. This became unwieldy and very time consuming.
Since implementing Handle, both of these issues have been resolved. All owners for all projects are now instantly verified with all required information included such as property APN and more.
Payment deadlines are also automatically tracked for every single project. This ensures U.S. Concrete does not miss crucial deadlines to maintain their project payment rights at all times. Every state has their own requirements for payment rights and Handle keeps track of everything – including timelines for what documents need to be sent and when. U.S. Concrete now has proactive alerts through Handle for unpaid invoices on projects as statutory deadlines approach.
