Osborne has adopted the WebContractor platform to effectively manage subcontractors, building stronger supply chain relationships and simplifying the payment process.
A Positive Step
Osborne has, as part of their commitment to industry best practice, moved to significantly strengthen supply chain relationships through the adoption of WebContractor, a quick and simple to use payment processing platform.
The leading construction, civil engineering and property services business will use the cloud-based WebContractor platform to enable subcontractors to upload and submit applications for payment online. This a move will help to improve the speed, efficiency and transparency of payment processing.
Stuart Hammond, Group Finance Director at Osborne, said: “By placing WebContractor at the heart of our subcontractor management, we are taking very positive steps towards more effective, compliant and straightforward interactions with our subcontracting partners, allowing them to check the status and progress of their applications at any time, no matter where they are.”
“Internally, it will provide more timely payment information to help cash flow forecasting, allow us to reduce the administration time and cost associated with payments, and ensure industry best practice and compliance.”
Osborne’s subcontractors will be able to see the progress of their applications for payment, increasing transparency and helping to forge closer working relationships. VAT recovery claims are supported by prompt, authenticated VAT receipts, and everything is fully compliant with the UK Construction Act.
Matthew Jones, Founder of WebContractor, said: “Our platform is designed to tackle the problems construction businesses face with effective subcontractor management, using technology to ease the burden of UK Construction Act compliance and enhancing financial visibility. We are delighted to be working with Osborne to build stronger supply chain relationships.”
Osborne is one of the leading construction businesses in the UK. As a family-owned business, Osborne has the freedom and flexibility to take a different approach; focusing on creating structures and spaces that provide an environment for people to thrive in, and solutions for customers that provide a better experience during the creation.
From rail to road, housing to healthcare, however large the project or contract, Osborne know that it is always personal to the people who use it and those that are responsible for it. Osborne is a business moulded out of a strong sense of respect and dedication to their customers and supply chain partners, and they have a positive impact on the environments they help to create.
For more information about Osborne visit www.osborne.co.uk.
First launched in 2016, WebContractor was developed by OpenECX in response to the construction industry's need to comply with prompt payment of subcontractors and the provisions of the UK Construction Act and Irelands’ Construction Contracts Act.
WebContractor streamlines the end-to-end application for payment process, making legal compliance straightforward, and removing manual, time-consuming processes. The platform enables construction businesses to effectively manage subcontractor relationships end-to-end, with improved visibility and tracking of the payment process on both sides.