The silently growing network changing the face of the Australian Construction Industry

Whilst it is no secret that, at Docketbook, we are on a mission to solve Purchase to Pay for Construction, what may be a surprise is the speed which the network is growing. We are building a connected construction and infrastructure network where everyone from Tier 1 Contractors to mum and dad operators can benefit from digitising key P2P transactions and leverage connections, networks and existing relationships to improve performance across the industry. We see it as our way of supporting the sector's call for improved productivity while at the same time supporting businesses to get paid for the work they do when they do it, helping to ensure cash flows more readily throughout the sector without delay, error and, well let’s be honest, in some cases some nasty legal proceedings.

“Networks are vital to our industry,” says Docketbook’s Mark Shepherd-Smith, “From personal networks of trusted individuals to the suppliers we know will never let someone down, the strength of our networks is leveraged every day. For all of us, the power of those networks is immeasurable, and when we need to use the power of connections, we do so readily and more often than not reciprocally.”

“The same is true of the networks we create through Docketbook, and we know this because of what we see every time we work with a new client.”

One of the key challenges to implementing any new system or technology is a fear of being first, and one of the misconceptions we hear from prospective partners is that ‘our network won’t be on Docketbook’ followed by a fear that they will have to do all the heavy lifting to get the people we work with onboard to use Docketbook.

“In the early stages of Docketbook, this was true, but like anything, you always start small and grow from there. As we have onboarded more and more businesses, more and more suppliers and more and more client organisations, the data we gather has shown us that from when we cast the Dockebook stone into the infrastructure pond, the ripples we created have become something that wouldn’t look out of place on Bell’s Beach. For a recent engagement with a Tier 1 Contractor for a project in Victoria, we were asked to analyse the percentage of the project supply chain already utilising Docketbook.”

“After a quick data match using ABN and company name, we could identify the organisations using Docketbook and what that would mean for the client. The result was astounding – for a new client on a new project in a location with local content requirements, indigenous procurement guidelines, local supply frameworks and more - over 40% of the proposed suppliers are already using Docketbook and using the system efficiently and effectively. We think that’s an impressive result; over 40% of a prospective supply chain are already onboard with digital dockets and the benefits they bring to a project and every party’s cash flow.”

“With each project and client supported by our customer success team, we have in place the processes and insights to support a client from their baseline penetration to rapidly onboard their suppliers and bring them up to speed and comfortable with the transition from out-dated, painful, time-consuming, inaccurate paper-based processes to a more collaborative, transparent and rapid way of doing business.”

But penetration into networks is only the starting point.

“The data shows the rapid growth of Docketbook within the sector. And while reach into the industry is essential, it only matters if the organisations see tangible benefits from being part of a network. Typically, processing a paper docket costs around $7-$10 and each docket has an average transaction value of $1,000-$1,200. In total, dockets account for 1% of all project costs, so if 40% of a project's supply chain is already transacting digitally, then there are significant cost savings to be had. In an industry under continual cost pressure, every dollar saved counts, and to date, we’ve processed over 1,200,000 digital dockets, saving the industry $10 million across up to $1.5bn of transactions.”

“Our network is growing as more organisations partner with Docketbook. BMD, Laing O'Rourke, SEE Civil and Fulton Hogan are now receiving digital dockets, and we have increased our footprint in material supply partnering with Boral, Coates, AdBri and Hanson. But the success of our mission is reliant on our network, and every business that joins the platform delivers more value to those already there, increasing acceptance, use and improving cash flow for all, but we can’t do it alone. We’ve cast the stone, its now up to the sector to ride the wave.” said Mark.

Have you ever wondered what happens to a paper docket?

We've mapped out the process and the stages a docket goes through before it is eventually paid...providing it doesn't get lost in the accounts payable vortex!