PYMNTS-MonitorEdge-May-2024

construction industry

Instant Payments Could Eliminate Construction’s $280B Late Payments Problem
Instant Payments Could Eliminate Construction’s $280B Late Payments Problem
October 22, 2024  |  Money Mobility

Delayed and incorrect payments are a perpetual headache for the construction industry. These issues not only burden accounting teams but also have serious downstream ramifications....

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Raken and Sage Partner on Construction Industry Field Management Solutions
Raken and Sage Partner on Construction Industry Field Management Solutions
August 05, 2024  |  Back-office

Raken has expanded the capabilities of its field management solutions for the construction industry by adding an integration with the Sage Intacct cloud accounting, payroll...

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Construction Tech Leans on Innovation to Scale Industry Transformation
Construction Tech Leans on Innovation to Scale Industry Transformation
March 18, 2024  |  Technology

We’ve heard of InsurTech, FinTech and more — but there’s a new player on the block. Meet construction tech: the latest iteration of the 21st...

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Built Launches Budget Management, Payables Tools for Real Estate Owners
Built Launches Budget Management, Payables Tools for Real Estate Owners
March 11, 2024  |  Real Estate

Built has expanded its construction and real estate finance platform to meet the needs of real estate owners and developers. The platform now helps these professionals...

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Handle.com Secures Investments to Automate Construction Payments
Handle.com Secures Investments to Automate Construction Payments
March 06, 2024  |  B2B Payments

In what is said to be a leap toward streamlining construction payments and credit solutions, Handle.com has secured investments from Amex Ventures and Suffolk Technologies, the venture capital entity...

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AI-Powered Innovations Cut Construction Procurement Time in Half
AI-Powered Innovations Cut Construction Procurement Time in Half
March 06, 2024  |  artificial intelligence

Almost every construction project comes with two unavoidable truths: unexpected delays, and extra costs. But while construction projects facing procurement snags while running up labor...

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Banks Challenged While Construction Loans Hang Around
Banks Challenged While Construction Loans Hang Around
December 26, 2023  |  Loans

While this wasn’t a good year for commercial real estate, banks saw commercial loan growth. These loans — known as CRE loans — were up...

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Late Payments Inflate Construction Bids by $273 Billion
Late Payments Inflate Construction Bids by $273 Billion
December 15, 2023  |  Money Mobility

Late payments and transaction errors run rampant in the construction industry. The sector’s days sales outstanding (DSO) — a measurement of how long a company...

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Construex Raises $4.6 Million to Digitize Latin American Construction Industry
Construex Raises $4.6 Million to Digitize Latin American Construction Industry
November 27, 2023  |  Investments

Construex, an Ecuador-based software-as-a-service marketplace, has raised $4.6 million in seed funding to accelerate its mission of digitizing the construction industry in Latin America. “This...

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