Streamlining Applications for Payment

13 Sep, 2023

Taking Control of Applications for Payment

The WebContractor platform is designed to help contractors manage and control the end-to-end application for payment and payment claim process with their subcontractor communities.

The software can help contractors’ commercial and financial teams move from manual, error-prone processes to a fully digital workflow that introduces efficiencies and supports compliance with legislation in the UK and Ireland.

The online portal also provides a simple way for subcontractors to upload, manage and track their own applications, following a standardised, predictable process that is easy to understand and follow, with automatic notifications on progress and payment.

A New Approach to Growth

WebContractor was launched by Open ECX in 2016 and has secured an impressive range of tier-one contractors as customers since then. When MonacoSol invested in Open ECX, it became clear that there was an opportunity to accelerate the growth and development of WebContractor as a separate offering away from the existing portfolio of solutions.

WebContractor became a separate entity at the start of 2023, with key personnel moving from Open ECX to start the new business, supported by a significant further investment from MonacoSol to build new teams across sales, marketing, development, and support.

The ‘start-up’ approach was the right fit for the WebContractor solution, which had huge potential that would benefit from dedicated resources and funding. The funding and practical support provided by Monacosol allowed the new WebContractor team to get up and running quickly, advancing the product, and driving a dedicated commercial strategy.

Delivering Results

The singular focus that the separation from the wider portfolio provided and the new infrastructure dedicated to the WebContractor platform enabled the team to deliver impressive growth on the platform.

Operations Director, Angela Cubillos, commented, “The additional resource and support have allowed us to push the platform's development forward, creating a better product for our existing customers and underpinning our commercial team’s success in securing new business.”

A Successful Exit

MonacoSol exited WebContractor in October 2023, with the sale of the business to Payapps. Read the details in our news section.

WebContractor COO, Angela Cubillos

The support from MonacoSol gave us the flexibility to approach the growth plan for WebContractor in the way we felt would deliver the best long-term result.

The team at MonacoSol helped us with the practicalities of setting up the new business, recruiting a new team and designing the strategy to deliver on our growth targets.

WebContractor Stats

Following the investment, WebContractor has rapidly expanded its team, platform functionality and customer base.

20

New team members recruited

100%

Increase in customers on the platform

Streamlining Applications for Payment