Discovering CheckVault

Unfortunately, Michael knows first hand that just because a client is referred to him it doesn’t necessarily mean they will be a client who pays promptly.

“I was looking for a way to avoid getting paid late when I was told about CheckVault,” Michael says of his introduction to the service by a neighbour.

Improved speed of payments

With standard payment terms of seven days, Ridgeway Building & Construction found that while most of their clients pay within the agreed terms there are always a few ‘bad payers’ who push this out which can really cause pain to their cash flow.

They are now receiving payment in as little as one to three days since using CheckVault. A big improvement on their previous cash flow and well ahead of  the national average which is a whopping 53 days.

A professional tool

Michael was also in the process of looking for “a professional way of submitting our quotes as well as the security of getting money” when that fortuitous conversation with his neighbour occurred.

Since using CheckVault they’ve received very positive feedback from clients who have said “it’s a very professional way of receiving quotes. It gives a good first impression.”

As a professional builder and member of the Housing Industry Association (HIA), Michael uses standard HIA residential building contracts for most of their jobs.  With CheckVault, Ridgeway Building & Construction have been able to continue to use these contracts but include payment through CheckVault as an addendum to the payment terms. They can attach the contract to the quote for their clients to receive in a single email so they can track delivery and acceptance within the system.

“I’m not that tech savvy, but once I was up and running it’s been so easy.”

Like many tradesmen, Michael spends most of his day working with his hands. Paperwork is something that as a small business owner, he has to tackle at some stage, but it’s not where his heart is.

“CheckVault was simple to implement. The CheckVault team set it up ready to go for me with my logo and everything. I was given some training over the phone and on an internet meeting. It’s pretty self explanatory though. I’m not that tech savvy, but once I was up and running it’s been so easy.” Michael says of his switch to CheckVault.

 “It’s an improvement on my previous quoting and billing process,” he adds.

Making the change

Making the decision to adopt this new way of approaching his quoting and payments into his business has “made everything easier and more efficient” according to Michael. “Doing all your progress payments at the start of a job makes book work easier. You don’t have to stop and make time to do invoices as you go it’s all there. It has made life a bit easier.

“I’ve told others already: ‘It’s a more secure way to run your business.’ ”