Monograph a premier practice operations platform designed to help architects and other design professionals oversee projects, timesheets, and forecasts in one integrated and simple interface—has unveiled its latest feature: Monograph Payments. The new feature allows architecture projects to be planned, resourced, and paid all in one system.
Architecture firms often struggle to get paid on time, with over 45% of architects waiting more than 4 weeks (according to a Monograph survey of more than 100 architects). Downstream, this can cause major cash flow issues that can force architecture firms to scramble to cover expenses. Monograph Payments gives clients the option to pay architecture invoices with a few clicks—significantly decreasing time-to-payment and improving firm cash flow.
“Monograph’s guiding light is to continue improving practice operations for architects and designers, especially when it comes to the tedious aspects that take away from the work they’re passionate about,” said Monograph CEO and co-founder Robert Yuen. “No one enters the architecture industry because they’re excited about invoicing, so it was a no-brainer for us to streamline the whole payments process.”
In addition to getting paid faster, architects can monitor the activity of an invoice: whether it’s been viewed, a payment has been attempted, and when a payment has succeeded. This allows architects to understand how and when to follow up with a client. Moreover, when a client pays a Monograph invoice, it will be automatically marked as paid and the project’s financial data will be updated in real-time. There’s no longer the need for back-and-forth between the bookkeeper and architect to get insight into project financials.
This update comes on the tail of Monograph’s recent release of Monograph Invoices, which allows firms to invoice with confidence and agility, enabling team members to get back to work on hitting project deadlines. As users prepare an invoice, they can see all of the timesheet data, milestone progress, and billing history—no need to go chasing in spreadsheets, conversation, and email. Once the project progress is billed for, all of that billing information is outputted in a simple, accurate invoice that customers can understand.
To book a demo to explore Monograph’s Payments workflow, please visit https://monograph.com/demo.
Monograph is a practice operations platform tailored to the architecture, design, engineering, and construction industries. Founded in 2019 by architectural designers Robert Yuen, Alex Dixon, and Moe Amaya, the technology company has helped firms manage over $550 million in projects of all scales. The cloud-based system is intuitively designed for AEC professionals to oversee projects, timesheets, and forecasts in one simple and integrated interface to inform decisions about their business and projects in real-time. Monograph’s evolving features reflect the profession’s specificities as every component is inspired by the founders’ experiences within the field and what they discovered was missing from the architect’s toolkit. The Monograph team, which was named among ArchDaily’s Best Young Practices of 2020, is disrupting the status quo by ridding firms of the ineffective spreadsheets and tools that treat cost, resource, and project management as separate activities. With Monograph, professionals are empowered with a solution that syncs a firm’s range of tasks and responsibilities together in one cohesive workflow. The expanded efficiencies ultimately help firms provide a better client experience, as well as design and operate a more collaborative, transparent, and profitable business. For more information, please visit https://monograph.com/