Construction Industry Late Payments Blamed on Lack of Digital Processes 

Late payments threaten cash flow and project completion for construction companies, with 86% reporting late payments damage productivity. In the “B2B And Digital Payments Tracker®,” a collaboration with American Express, Patricia Bonilla, owner and president of Lunacon Construction Group, explains why construction firms need to make tracking and receiv­ing payments a top priority.

Inside the January/February Tracker
  • Patricia Bonilla, owner and president of Miami-based Lunacon Construction Group, offers insight into why construction businesses need to make tracking and receiving payments a top priority
  • Delayed payments are causing headaches for contractors, subcontractors and banks, but automation and other technologies can help ease pain points
  • The pandemic added friction to B2B payments, and the construction industry saw the value in unlocking faster payments

B2B and Digital Payments