At QuickDraw Fund Control, we understand that accurate construction progress reporting is crucial to successful project management. Through efficient use of technology, we are streamlining construction progress monitoring and providing lenders with the precise data they need to ensure that funds are applied properly and payment requests match work performed.
During a construction site inspection, a trained professional visits a construction site and evaluates progress by completing a property checklist, assessing compliance and creating photo documentation. This information culminates in a progress report that is presented to the lender.
QuickDraw Fund Control begins the construction site inspection process by dispatching digital inspection forms via a custom tool that links directly to our construction finance software, Rabbet, providing the site inspector with live project and budget information. The inspector is then able to take photos using their mobile device and submit them in a form that contains both their images and commentary. The form is automatically transformed into a report that is immediately viewable by our Draw team.
Our internal team uses the report to document the actual project-percent complete within Rabbet. We reference the photo evidence and inspector’s observations within the report to prove whether or not requested improvements have been made. When questions arise, our Draw team reaches out to project management for clarification. After calculating a total project-percent complete and citing any variances, the final report is sent to the lender with our recommendations.
QuickDraw Fund Control’s automated approach
QuickDraw Fund Control also offers construction progress reporting services a la carte, since many lenders who manage the fund control process in-house choose to outsource their progress reporting to us for our efficient systems, thorough review and expert recommendations.
QuickDraw Fund Control provides construction progress reporting services nationwide. We exceed all state licensing requirements by employing only licensed contractors.