Boasting a diverse range of projects, BW continually strives for innovation and collaboration within the interior fit-out industry. This article explores how BW introduced Payapps to their business to create an online platform for receiving, managing, and certifying applications for payment
BW cover a wide range of projects for the likes of Microsoft, Brookfield, and Universal Music Group and has a turnover that has grown in the past four years to £200m in 2019.
It is BW Interiors’ ambition not to be the biggest but to be the best in the sector. Therefore, excellent communication between commercial and finance functions is vital to ensure profitability within each project and the overall business.
How can Payapps streamline applications for payment?
BW introduced Payapps into the business; an innovative online platform for receiving, managing and certifying applications for payment.
In this case study, Payapps interviewed financial controller Theo Riakiotakis and commercial director Kevin P’ng to explore the impact that Payapps has had on bridging the gap between commercial and finance processes for BW. This includes:
- Enhancing visibility and accessing data
- Modernising the industry for one version of the truth
- Supporting the new employees in the introduction to Payapps
- Payapps vs spreadsheets – how does it compare?
- Using Payapps remotely during the Covid-19 pandemic
- An ever-improving, easy to use platform
- The importance of Construction Act compliance
- Using technology to adapt and improve working practices
Innovative applications for payment that save time and money
Kevin P’ng commented: “Sometimes you don’t realise something is problematic until you find a solution for it. Looking back, I can’t believe we tried to manage applications for payment using spreadsheets and paperwork – in terms of administrative efficiencies, we’re saving around £100k a year now.
“The methods of working need to be less ingrained in this industry. With the introduction of solutions like Payapps, the pace of change and innovation can rapidly snowball.”
How can Payapps support new employees?
Kevin added: “The training and support provided by Payapps is second to none, making it quicker and easier in fact for someone joining the business to learn Payapps than to understand how to do the same thing using paper or Excel forms.
“We no longer have to talk through internal processes, which are different for every business.”
Read the full BW case study to understand the impact that Payapps had on bridging the gap between commercial and finance processes.
