A construction payroll platform designed for same-day pay.
Trayd is a B2B construction payroll platform and back office management system designed for same-day pay. We allow the 7M construction workers in the US to get access to their earned wages 7-10 days sooner than legacy payroll providers. With a unique spin on traditional payroll, Trayd is on a mission to create back office efficiencies for commercial subcontractors while simultaneously addressing the significant labor shortage affecting the $2.1TR North American construction industry. Trayd is bigger than construction payroll. It's the promise that the hardest working people get access to their money, as and when they need it, creating greater financial wellness across the board. Not only that, we are pioneering digital cash access for a demographic traditionally overlooked while simultaneously modernizing operations in an industry that has been slow to adapt. The challenges and opportunities with Trayd are abundant, promising an engaging journey ahead.
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TL;DR:
Trayd is reinventing construction payroll for the betterment of all key players. For commercial real estate subcontractors, Trayd generates back office efficiencies with a platform that manages workforce attendance and payroll. For workers, Trayd offers instant access to their earned wages. Win-Win.
We are Anna Berger and Cara Kessler, the team behind @Trayd and we are on a mission to digitize construction payroll in order to power a better financial future for subcontractors and their workers.
🚨Problem🚨
Within commercial real estate, demand for work is at an all-time high. In the last year, total construction spend in New York City reached $86BN and it keeps on climbing. That said, construction subcontractors are ill-equipped to handle the influx of work, with only 17% of them using digital tools to manage their back office. This lack of tech adoption is leading to work stoppages and high attrition, resulting in major revenue loss.
To make matters worse, construction employment still lags behind pre-covid levels. Of those that remain, highly skilled workers are choosing to leave the trades in search of more control over their cash flow, for example, gig economy jobs that allow them to work when they want and get paid instantly.
🏗️ Our Solution 🏗️
Trayd is new type of construction payroll platform, designed to incentivize all key players. Through a closed loop system, Trayd tracks workers’ daily attendance in order to power real-time payroll automation. By merging time and payroll data into one system, subcontractors save tens of hours a week on manual back office work. As an added bonus, because Trayd authenticates attendance in real-time, Trayd can offer instant payment options to the workforce.
📖 The Backstory 📖
Born into a construction family and close to the problems that plague subcontractors and workers on a daily basis, our team is excited to modernize construction back office operations while simultaneously offering financial tools and opportunities to subcontractors and workers.
Asks 🙏
- Know anyone in the construction industry? We’d love to speak to any general contractors, subcontractors, construction workers, or developers about their day-to-day experiences. Send any leads to anna@buildtrayd.com
- Follow along on our journey! → https://www.linkedin.com/company/traydinc/
If you have any questions, reach out! We’d love to hear from you.
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