Osborne to streamline processes and strengthen subcontractor relationships through WebContractor
Osborne has, as part of their commitment to industry best practice, moved to significantly strengthen supply chain relationships through the adoption of a quick and simple to use payment processing service.
The leading construction, civil engineering and property services business will use the cloud-based WebContractor service to enable subcontractors to upload and submit applications for payment online, a move that will 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.”
WebContractor is a cloud-based service developed by Open ECX together with Osborne. It allows companies to effectively manage their subcontractor relationships at every step of a project, with key processes like self-billing agreements being automated.
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, CEO of Open ECX, said: “Our WebContractor service 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 have 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 our 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
About Open ECX Ltd
With almost 2,000 trading relationships across 25 countries, processing monthly transactions worth almost £40million, Open ECX facilitates automated electronic transactions across a large community of construction businesses and suppliers.
Open ECX’s scalable software helps streamline and better manage procure-to-pay (P2P) processes, whether they be receiving e-Invoices, viewing e-Catalogues, placing e-Orders or paying subcontractors. Software from Open ECX dramatically enhances visibility, control and compliance while also allowing substantial cost-savings and improved trading relationships in the Construction Supply Chain.
Their WebContractor solution allows construction businesses to effectively manage subcontractor relationships end-to-end, through improved visibility and tracking of the payment process on both sides. This streamlines and simplifies the payment process, and ensures compliance with the UK Construction Act.
For more information about Open ECX, visit www.openecx.co.uk