Construction businesses should convert from Excel to Graneet’s tool, according to Graneet
Graneet is a French business that just secured $2.8 million (€2.4 million) in a seed round sponsored by Point Nine and Fondamental. Graneet is a vertical software-as-a-service firm that focuses on the construction industry, especially the plethora of small and medium businesses that make up this sector.
It aspires to create the ultimate financial management solution for construction firms to better manage their projects. The great majority of construction firms still use numerous Excel files, resulting in data silos and time-consuming data entry chores.
The mother of Graneet’s co-founder and CEO, Jean-Gabriel Niel, formerly operated a construction firm. “This is ridiculous,” he said, “I can’t figure out if I’m going to make money or lose money for one of two building projects.”
He looked at this company’s internal procedures, including order processing, billing management, and so on. And it was then that he discovered Microsoft Excel was still the most popular choice.
Graneet believes it has to tackle three main problems with Graneet: quotations, billing, and resource planning. The company began by focusing on billing. Graneet serves as a single source of truth, allowing you to know how much your customer is scheduled to pay, how much you’ve already received, and what’s next. You can check to see if any invoices are due and mark them as paid.
After then, the firm focused on generating quotations and leads. Graneet allows you to generate quotations right on the platform. When your construction project is well along and the client has approved your quotation, you may go back and input a percentage of completion – this is an important indicator in this business.
Finally, with today’s investment round, Graneet hopes to expand the product’s third component, resource planning. Graneet will soon allow you to manage subcontractors and split one invoice into several pieces for numerous contractors.
Clients of Graneet will have the ability to invite subcontractors to the platform. They won’t be able to see everything, but they will have a good idea of what they’re working on. Likewise, if you’re a Graneet client who works as a subcontractor for a larger firm, you’ll be able to provide monthly progress updates. That should assist a lot when it comes to attracting new customers for the goods.
Graneet believes it will be able to provide additional services to its existing clients in the future. Many construction businesses, for example, deal with factoring companies, which acquire outstanding bills and pay them immediately for cash flow concerns. Graneet may also be able to make direct payments on the site.
Graneet can aid in a variety of ways, and here is just one example. Construction businesses, according to the theory, are now under-equipped in terms of IT solutions. There will be a number of product opportunities if Graneet can demonstrate that it can cover that need.
Graneet promises its clients to deliver an excellent user experience and also a number of product opportunities that they will demonstrate and cover their need. All my best wishes to them.Shishir Gupta, Founder and CEO, StartupLanes
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