8 PM, and you’re still at your desk, wrestling with a spreadsheet full of invoice data. Timesheets are scattered, a subcontractor’s billing has a typo, and you’re praying you didn’t miss a compliance deadline. Sound familiar? You’re not alone – 68% of project managers (PMs) spend two or more hours weekly on invoicing, stealing time […]
The future of construction payments is shaping the way the industry evolves, as the construction sector undergoes a significant transformation driven by technological innovation and changing industry requirements. Traditional payment methods, such as paper checks and manual invoicing, are time-consuming, prone to errors, and often lead to delayed payments. The Current State of Construction Payments […]
The construction industry is the backbone of our modern world, building everything from homes and schools to bridges and skyscrapers. It’s a massive sector, contributing over $1.4 trillion annually to the U.S. economy alone, according to the U.S. Census Bureau’s 2023 data. But for small to mid-sized construction firms – those employing anywhere from 5 […]
If paperwork mistakes are holding up your payments, you’re not alone. In construction, the AIA G702 and G703 forms are key to getting paid, but they can be confusing and time-consuming. These forms track your work, manage retainage (the money withheld until the job is done), and help ensure smooth payments. The problem? Even small […]
Managing payments in construction can be a real challenge. Delays, mistakes, and confusion are common, which can slow down projects and create tension between contractors, clients, and subcontractors. But what if there was a way to streamline the whole process—making it faster, easier, and clearer for everyone involved in the process? That’s where accurate construction […]
For many contractors, filling out the AIA G702 and G703 forms can feel like navigating a complex maze. While these forms are designed to streamline payment applications and make them more standardized, they often end up creating more headaches. With their complicated structure and the need for detailed information, they can be time-consuming and stressful […]
Stop Losing Money! Here’s the Truth about Payment Delays in Construction In the construction industry, delayed payments can create significant financial setbacks for contractors. When payments are late, they disrupt cash flow—vital for covering daily expenses like paying subcontractors and renting equipment—making it challenging for contractors to keep projects on track. The longer delays persist, […]
Is Digitalization the Revolutionary Solution to Payment Issues in Construction Projects? Late payments are a significant challenge in the construction industry. According to the National Association of Credit Management, nearly 70% of companies report delays in getting paid. These delays can disrupt project timelines and budgets, causing financial strain, slowing progress, and even harming professional […]
Time is Money: How PayApps Automation Saves You Both In the fast-paced world of construction, time is money. Every minute spent on tedious, repetitive tasks eats into your profits and delays project completion. That’s where PayApps comes in, revolutionizing construction documentation with powerful pay application automation features that free you from the shackles of manual […]
Say Goodbye to Paperwork: How PayApps Simplifies Construction Documentation The construction industry is known for its complex projects and intricate documentation processes. From payment applications to change orders, managing paperwork can be a time-consuming and error-prone endeavor. Traditional methods often lead to delays, miscommunication, and costly rework. But what if there was a way to […]