Payment transparency
Helping subcontractors get paid
IPEX
Reducing non-payment risk for subcontractors
Developer & financiers are now mandating the use of IPEX software on their projects to verify that subcontractors are being paid for certified work.
IPEX silos payments to a specific project, isolating them from all others linked to the builder & ensuring that only approved subcontractors, subcontractors & suppliers linked to the project can be paid from the account.
Importantly, the developer & financier can monitor payments to subcontractors & suppliers each month, cross-checking with the QS Assessment to help identify & address any payment issues.
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Additional IPEX benefits
How does IPEX reduce non-payment risk?
2500+ subcontractors & suppliers are already being paid securely through IPEX
How IPEX protects
The builder is prevented from paying subcontractors & suppliers not linked to the project
IPEX does not alow payments to entities unless they have been onboarded and linked to the specific project
IPEX also checks BSB and Account numbers in ABA files against those provided directly by the subcontractors & suppliers to prevent errors/fraudulent payments
With IPEX, the developer can see who has been paid when and how much*
The developer can view a complete list of subcontractors & suppliers that have been approved for payment on the project.
The developer can cross-check the percentage of contract paid to each subcontractor against certified progress onsite to help identify non-payment.
The developer can cross-check the date each subcontractor or supplier last got paid against previous claims to help identify non-payment.
*Standard developer portal view expresses payments made as a % of contract value / Open book view displays actual payment values.
Disclaimer: IPEX does not guarantee subcontractor/supplier payment, nor recover funds owed to subcontractors or suppliers. IPEX does not process payments; project accounts are builder owned & operated. IPEX software provides practical oversight & control over how project funds are distributed at the level agreed by developer/financier & builder.
Testimonials
What our customers have to say
Case studies
Customer success stories
Winim
Developer WINIM can now see that progress payments are going where they should; credits platform for removing key delivery risk…
Bluescope & Frasers
ASX-listed BlueScope and real estate manager Frasers Property have moved to protect $400M+ in funds set to be spent on upcoming projects behind the IPEX payments platform…
Balmain & Co
Why would a builder pro-actively offer to ‘ring-fence’ project funds & provide subcontractor payment transparency? We ask leading commercial builder Balmain & Co….
Use cases
Who benefits
Developers
Stop paying other developers’ bills. Deter distressed builders from tendering and protect your project against future unforeseen builder cashflow issues.
Builders
Leverage your strong financial position into more contracts and better commercial terms without sharing commercially sensitive information.
Lenders
The QS certifies progress, not payments. Payment transparency lets you validate ‘Cost to Complete’ forecasts against actual cash outflow & detect funding gaps before they become defaults.
Project managers
De-risk builder recommendations and identify non-payment of subcontractors/ suppliers immediately. Reduce reputational risk while maximising the chances of successful project delivery.
Subcontractors and suppliers
Work for builders who won’t risk your entitlements to cashflow other projects. Reduce your risk of non-payment in the event of builder insolvency.
Construction lawyers
Add practical controls to existing legal protections. Best practice risk mitigation for your property developer clients.