Digital Transformation and Payment Management in Construction
What does the future hold for supply chain payments in construction?
The construction industry is central to our economy but 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.
Those construction firms that have invested in automation of back-office processes, for example to manage applications for payment from a single platform, enjoy industry credibility across their supply chain and are seeing a positive return on their investment by innovating what are traditionally complex, cumbersome and manual tasks.