The financial terms of the agreement were not made public. Credit: Thapana_Studio via Shutterstock.

Technology business Trimble has acquired Flashtract, a US-headquartered privately held construction billing software company.  

The financial terms of the deal remain undisclosed. 

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Flashtract offers technology that allows general contractors and subcontractors to easily send and receive payment and compliance information.

This is said to eliminate potential communication delays and document transfers. 

Trimble Construction Management Solutions vice-president Lawrence Smith said: “Secure, reliable and fast electronic management of payments and lien waivers can be vital benefits to contractors, but many still manage these processes manually. 

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“Adding the ability to manage these workflows with subs electronically through Trimble Pay helps contractors improve compliance and keep projects on schedule and budget by reducing the two to three days of manual work per month by project managers or accountants.” 

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Following the acquisition, Flashtract’s technology has now been rebranded as Trimble Pay.

It will continue to offer managed payment applications, lien waivers, and other compliance and billing documentation.  

This technology will combine with the Trimble Viewpoint Vista ERP solution’s capabilities, thereby expanding Trimble Construction One’s connected construction technology offerings. 

Flashtract co-founder and CEO Blair Chenault said: “We have earned a strong reputation for enabling general contractors to minimise legal and financial risk and improve efficiency since introducing our technology in 2019. 

“Joining Trimble will allow our teams to advance these capabilities and help contractors make payments on time and keep management of financial and compliance documents from hampering project delivery.” 

In February this year, Trimble partnered with DroneDeploy, a cloud-based software solution for drones, to enhance drone mapping.