Digital transformation and payment management in construction

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This eBook from cloud-based construction payment management software company Payapps explores the future of supply chain payments in the construction industry

The construction industry is a key player in any country’s economy and one of the most labour-intensive industries globally.

Despite this, the industry is notorious for being much slower than other industries to embrace change and digitalisation.

Whilst it is up to individual companies to determine their processes and operations, the sector is so tightly interwoven that future practices must be standardised and supported by the industry, encouraging collaboration across the board.

What does the future hold for supply chain payments in construction?

The construction industry is central to our economy. However, it has struggled to modernise, particularly when it comes to managing supply chain payments.

A recent survey conducted by research and consulting firm Frost & Sullivan, in conjunction with Payapps, found more than 37% of respondents of UK construction companies rely on spreadsheets as a payment management system… yet there’s a far easier way!

If your business is still reliant on spreadsheets read this construction digital transformation report to discover:

  • Frost & Sullivan’s analysis of the state of the construction industry for 2021 and beyond.
  • The perceived challenges to the successful adoption of digital solutions in the back office and how you can overcome these.
  • The efficiencies of digital transformation for processing applications for payment and contract variations.
  • How construction firms can keep ahead and remain competitive.

Is the construction industry ready? Download ‘Connecting the Construction Workplace of the Future’ here.

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