Risk of Failing To Chase Payment
In the construction industry, contractors often leave themselves vulnerable when it comes to chasing contractor payments. Many clients wait an average 8 months before even taking action against their overdue payments! This paves the way for Security of Payment disputes and places both income and profit at risk. Blog post originated by our good friends at Contractors […]
Responding to Requests Under the Security of Payments Act
TIME FRAMES AND THE SECURITY OF PAYMENTS ACT THE SECURITY OF PAYMENTS ACT WAS PUT IN PLACE PRIMARILY TO ENSURE QUICKER PAYMENT FOR BUILDERS, BUT THERE ARE TRAPS FOR THE UNWARY IN THIS AREA THAT CAN HAVE SEVERE CONSEQUENCES. The regime provides a method for a builder to be paid for work done in a […]
8-Point Guide to Project Management Software
Construction business owners and project managers alike know how tough it can be to manage a project, but some are reluctant to change processes to find an easier solution to management. EXPLORE THE VALUE THAT CLOUD-BASED OPTIONS CAN BRING TO YOUR BUSINESS SCENARIO 1: WITHOUT PM SOFTWARE Before you have even had your morning coffee, […]
Poor Cash Flow Affects Your Business
Poor cash flow can affect much more than the financial performance of your business. The non-financial costs of poor cash flow can have just as negative an impact on your business as the financial costs. HERE ARE 8 WAYS POOR CASH FLOW COULD BE AFFECTING YOUR BUSINESS. 1. INCREASED INTEREST AND BANK CHARGES When having […]
On-Demand Webinar: Connecting the Construction Workplace of the Future
What does the future hold for construction? The construction industry is central to our economy, however unlike other sectors, it has struggled to modernise and is challenged by rising costs, stagnating productivity, high waste, and low margins. Throw in a global pandemic, and the challenges are only exacerbated. Despite the recent events, a survey conducted […]
Construction Sector Needs Tech Innovation Not Regulation
SEE WHAT OUR CEO HAS TO SAY ABOUT FINTECH AND CONSTRUCTION. The failed attempt to re-establish the Australian Building and Construction Commission (ABCC) by the Turnbull government has yet again put a spotlight on the productivity and lack of technology innovation in the Australian construction sector. Turnbull wants an independent body to keep an eye […]
Construction industry supply chains reshaped by technology
Paper and spreadsheets meets digital solutions The construction sector relies heavily on having coherent workflows and paperwork. This ensures the smooth completion of project assessments and facilitates timely assessment and subsequent claim approvals on any given project. However, collaboration and communication along the supply chain are long-term pain points for the industry. Companies today are […]
Cost increases place huge pressure on construction industry, leaders embrace digitisation as a way forward
Throughout 2020 and 2021, the COVID-19 pandemic has exacerbated ongoing issues in the construction sector – one being the continued rise in costs of building resources and supply chain challenges. In my recent guest spot on the Master Builders Elevate Podcast, host Ryan Castle and I discussed a number of topical issues around New Zealand and […]
Partner spotlight: ProcurePro
A brief overview of your company ProcureProProcurePro is a procurement and contracting platform, enabling construction contractors to compare, select, approve and contract with subcontractors on the one platform. ProcurePro provides visibility, controls, consistency and efficiencies to the highly manual subcontractor procurement process, enabling quality that improves commercial outcomes for construction projects. What’s the biggest challenge […]
More than a buzzword: How collaboration can lead to growth in the construction sector
In the construction industry, we’re often thinking about risk and how we can mitigate it. The last two years of the COVID-19 pandemic have propelled ongoing issues into a heightened state, and left many organisations big and small struggling to meet project requirements, secure supplies and pay contractors and subcontractors on time. At Payapps we’re […]
Building Resilience Through Technology
Unlock the secret of resilience in the construction industry through digital adoption with our comprehensive report.