"Construction draw timelines typically run about seven business days. However, this process is gradually becoming much faster as companies leverage artificial intelligence to automate much of the end-to-end build-cycle data."
"Built Technologies now achieves an average construction draw timeline of three business days. The company shortened the construction draw process by replacing fragmented communication and workflows with a centralized platform."
"The Draw Agent allows users to access simple construction draws within minutes. The Draw Agent activates when it detects a new draw and fully automates the draw review process."
Construction project finance is essential for residential construction, providing timely funding draws. Traditional processes have been inefficient, causing delays. Built Technologies has improved this with its Draw Agent, which automates the draw review process. This innovation has reduced average draw timelines from seven business days to three. The centralized platform streamlines communication and document management, allowing users to access necessary documents and interact directly with lenders. The Draw Agent significantly enhances efficiency by automating simple construction draws, marking a breakthrough in the industry.
Read at www.housingwire.com
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