The construction industry has faced significant challenges in the past year due to the COVID-19 pandemic. Shutdowns and social distancing measures have caused delays and disruptions, and many businesses struggle to adapt. However, Payapps, a leading payment management platform, is working to help the industry “build back better” by streamlining payment processes and improving transparency.
In a recent interview with Inside Construction, Payapps Chief Revenue Officer Brett Stephenson explained how the platform is helping contractors and subcontractors manage payments more efficiently. He noted that many businesses in the construction industry still rely on manual processes, such as paper-based invoices and spreadsheets, which can be time-consuming and prone to errors. Payapps, however, automates payment workflows and provides real-time visibility into payment statuses.
“Payapps is a payment management platform that helps construction companies automate and simplify their payment processes, making them more efficient and transparent,” said Stephenson. “Our platform integrates with existing financial systems and provides a single source of truth for payment information. This helps to reduce the risk of errors and disputes, which can be a major source of frustration for contractors and subcontractors.”
Stephenson also emphasised the importance of collaboration and communication in the construction industry, particularly in the current climate. With many teams working remotely or in socially distanced environments, staying connected and moving projects forward can be difficult. Payapps include messaging and document-sharing features to help teams stay in touch and work together more effectively.
Overall, Payapps is working to help the construction industry overcome the challenges posed by the pandemic and emerge stronger and more resilient. By automating payment processes, improving transparency, and promoting collaboration, the platform is helping businesses to build back better and ensure the success of their projects.
“We’re proud to support the construction industry during this challenging time,” said Stephenson. “Our goal is to help businesses adapt to the new normal and emerge stronger on the other side.”
To read the full story, visit Inside Construction.