Construction payment management system and method with automatic workflow management features
A system and method for managing a construction payment process. One method embodying the invention can include storing a plurality of workflows to control automatic electronic notification sequences of the construction payment process, electronically receiving information related to a construction project from a first participant, automatically electronically transmitting a first notification to a second participant in the construction project based on the information received from the first participant, electronically requesting a response from the second participant related to the first notification, electronically receiving a response from the second participant related to the first notification, automatically validating the response, and automatically electronically transmitting a second notification to a third participant included in the construction project based on the response received from the second participant.
1 . A method of managing a construction payment process, the method comprising the acts of:
storing a plurality of workflows to control automatic electronic notification sequences of the construction payment process;
electronically receiving information related to a construction project from a first participant;
automatically electronically transmitting a first notification to a second participant in the construction project based on the information received from the first participant;
electronically requesting a response from the second participant related to the first notification;
electronically receiving a response from the second participant related to the first notification;
automatically validating the response; and
automatically electronically transmitting a second notification to a third participant in the construction project based on the response received from the second participant.
2 . The method of claim 1 wherein the third participant includes the first participant.
3 . The method of claim 1 wherein the second notification includes a legally-binding document.
4 . The method of claim 1 wherein at least one of the first notification and the second notification is electronically transmitted in real-time.
5 . The method of claim 1 wherein at least one of the first notification and the second notification is electronically transmitted based on user preferences.
6 . The method of claim 1 wherein the first notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.
7 . The method of claim 1 wherein the second notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.
8 . The method of claim 1 wherein the information received from the first participant includes project information.
9 . The method of claim 8 wherein the first notification includes a notification of project responsibilities assigned to the second participant.
10 . The method of claim 9 wherein the response received from the second participant includes at least one of an acceptance of the project responsibilities and a declination of the project responsibilities.
11 . The method of claim 10 wherein the second notification includes at least one of a notification that the second participant accepted the project responsibilities and a notification that the second participant declined the project responsibilities.
12 . The method of claim 1 wherein the information received from the first participant includes draw initiation information.
13 . The method of claim 12 wherein the first notification includes a notification to enter an invoice.
14 . The method of claim 13 wherein the response received from the second participant includes an invoice amount.
15 . The method of claim 14 wherein the invoice amount includes at least one of a percentage of work completed and a dollar amount of work completed.
16 . The method of claim 14 and further comprising the act of automatically generating at least one of an invoice and a sworn statement based on the invoice amount.
17 . The method of claim 1 wherein the information received from the first participant includes funds disbursement information.
18 . The method of claim 17 wherein the first notification includes a notification to sign a lien waiver.
19 . The method of claim 18 wherein the response received from the second participant includes an electronically-executed lien waiver.
20 . The method of claim 19 wherein the second notification includes at least one of a notification that the lien waiver has been signed and a notification that a plurality of lien waivers have been signed.
21 . The method of claim 20 and further comprising the act of electronically transmitting a third notification to the second participant, the third notification including a notification that funds have been disbursed to the second participant.
22 . A construction payment management system comprising:
an application server that stores a notifications manager, the notifications manager storing a plurality of workflows to control automatic electronic notification sequences of the construction payment management system, automatically electronically transmitting a first notification to a second participant in a construction project based on information received from a first participant and related to the construction project, automatically validates the response, and automatically electronically transmitting a second notification to a third participant in the construction project based on a response received from the second participant.
23 . The construction payment management system of claim 22 wherein the third participant includes the first participant.
24 . The construction payment management system of claim 22 wherein the second notification includes a legally-binding document.
25 . The construction payment management system of claim 22 wherein at least one of the first notification and the second notification is electronically transmitted in real-time.
26 . The construction payment management system of claim 22 wherein at least one of the first notification and the second notification is electronically transmitted based on user preferences.
27 . The construction payment management system of claim 22 wherein the first notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.
28 . The construction payment management system of claim 22 wherein the second notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.
29 . The construction payment management system of claim 22 wherein the information received from the first participant includes project information.
30 . The construction payment management system of claim 29 wherein the first notification includes a notification of project responsibilities assigned to the second participant.
31 . The construction payment management system of claim 30 wherein the response received from the second participant includes at least one of an acceptance of the project responsibilities and a declination of the project responsibilities.
32 . The construction payment management system of claim 31 wherein the second notification includes at least one of a notification that the second participant accepted the project responsibilities and a notification that the second participant declined the project responsibilities.
33 . The construction payment management system of claim 22 wherein the information received from the first participant includes draw initiation information.
34 . The construction payment management system of claim 33 wherein the first notification includes a notification to enter an invoice.
35 . The construction payment management system of claim 34 wherein the response received from the second participant includes an invoice amount.
36 . The construction payment management system of claim 35 wherein the invoice amount includes at least one of a percentage of work completed and a dollar amount of work completed.
37 . The construction payment management system of claim 35 and further comprising a draw module stored in the application server, the draw module automatically generating at least one of the invoice and a sworn statement based on the invoice amount.
38 . The construction payment management system of claim 22 wherein the information received from the first participant includes funds disbursement information.
39 . The construction payment management system of claim 38 wherein the first notification includes a notification to sign a lien waiver.
40 . The construction payment management system of claim 39 wherein the response received from the second participant includes an electronically-executed lien waiver.
41 . The construction payment management system of claim 40 wherein the second notification includes at least one of a notification that the lien waiver has been signed and a notification that a plurality of lien waivers have been signed.
42 . The construction payment management system of claim 41 wherein the notifications manager electronically transmits a third notification to the second participant, the third notification including a notification that funds have been disbursed to the second participant.