Background

In 2001 John Trickel, ezPay CEO, resolved to improve the design and construction industry’s antiquated payment process. The highly fragmented and inefficient in-person and in the mail payment process had remained virtually unchanged for the past 100 years. Sometimes, the actual construction work, on a single family home or a major retail or commercial project, could come to a stop because funds were not changing hands quickly enough. In cases where several steps were involved to receive payment, the process was taking 60 to 90 days, an unacceptable amount of time for Trickel, his partners and this industry.

 

Without an effective banking tool, contractors and other contract-for-service businesses were losing thousands of dollars monthly because of the time-consuming pay application process.

 

The cost to banks and other financiers that received the project pay requests was also very high as thousands of hours and people per year were necessary to track and organize lien wavers and the other necessary paperwork involved.

 

Trickel believed there had to be an easier way. He gathered a cross functional team of professionals with comprehensive experience in construction management and engineering, banking, and IT development. They envisioned a Web-based payment application process that would be the cost saving, problem-solving solution banking and construction professionals were looking for. By automating payment to contractors, auto-generating lien waivers and simplifying other steps required in the construction pay request/approval process, eznetpay is reducing risk and strengthening accountability overall.

 

In 2001, the first to utilize eznetpay was Taylor Ohde Kitchell, the program/construction management firm for the Des Moines Public School District’s Schools First renovation program. The 10-year, $350-million project is in its sixth year. Early on, the construction firm recognized eznetpay’s remarkable power and resource savings potential.

 

Today, ezPay’s founders continue to add additional business logic and application enhancements to ensure eznetpay users have the most beneficial and user-friendly product available. The eznetpay online payment process solution holds strong promise for additional industries as well.