T

Truss

www.trusspayments.com link_icon

Truss Company Market Research Report



Company Overview



  • Company Name: Truss

  • Mission: Develop financial tools for modern construction businesses to thrive by providing cutting-edge banking and payment solutions.

  • Founded: Information not provided

  • Founders: Information not provided

  • Key People: René Ayala (Account Manager mentioned in testimonials)

  • Headquarters: Information not provided

  • Number of Employees: Information not provided

  • Revenue: Information not provided

  • Core Specialty: Truss is a financial technology company, recognized for offering an all-in-one banking solution tailored for contractors, particularly construction businesses, facilitating invoice, bill, and card management.


Products



Business Checking


  • Description: Modern banking service customized for construction businesses.

  • Key Features:

  • $3M FDIC insurance on deposits through Thread Bank.

  • No account fees or minimums.

  • Personalized account management with custom user permissions.

  • In-house support and white-glove onboarding.


Receivables


  • Description: Online payment acceptance for businesses.

  • Key Features:

  • Accept free ACH and card payments.

  • Instant fund usage.

  • On-site mobile check deposits.

  • Custom-branded payment portal for faster customer checkout.

  • Capability for collecting progress payments.


Payables


  • Description: Digital payment management for subcontractors.

  • Key Features:

  • Free ACH payments.

  • Mailing checks directly from the dashboard.

  • Integrated approval workflows.

  • Vendors do not need a Truss account to receive payments.

  • Integrated check printing for seamless payment processing.


Cards


  • Description: Expense management solution with card issuance.

  • Key Features:

  • Issue unlimited cards to staff with real-time spend controls.

  • Smart expense filtering and project tagging features.

  • Mobile receipt capture and flexible rewards for purchases.


Accounting Integration


  • Description: Seamless integration with existing accounting workflows.

  • Key Features:

  • Full-cycle automation from invoice creation to reconciliation.

  • Connectivity to any accounting system using Plaid.

  • CSV imports and robust security with $3M FDIC insurance coverage.


Recent Developments



New Product Launches


  • Truss Card Rewards: A rewards program for contractors aiming to add value to purchases.

  • Instant Vendor Checkout: Enables instant access to funds for vendors any day, including weekends.


Product Updates


  • Improved Bill Payments: Introduction of partial bill payments and improved QuickBooks integration.

  • Checkbook Ordering: Customizable checkbook orders now available.

  • Retry Failed Bill Payments: New feature to retry bill payments with erroneous information.

  • Pay Vendors by Text: Pays vendors via text, making payment processing faster and simpler.


Partnerships


  • New Partnerships: Collaborations with RenoFi for home loans and Drillbit for AI-driven office solutions.


Note: Truss operates as a financial technology company and not a bank, with its services provided by Thread Bank, a member of the FDIC.