Accounts payable in construction: your guide to automating more of the accounts process
The construction industry has remained stubbornly slow in the adoption of technology. IT budgets are some of the lowest globally, and the adoption of digital collaboration is behind all other sectors. There is real opportunity across businesses running in this sector to harness productivity through digitalisation. Accounts payable is an area ready for transformation, with very few construction firms utilising ‘true’ e-invoicing solutions to automate their accounts payable processes.
The factors driving the need for change
Many factors are driving the need for construction businesses to find efficiencies in how they operate, including dated technology and poor payment practices.
The digitalisation opportunity
Accounts Payable is an area ready for transformation and digitalising invoice processing is just the beginning of the journey.
Technology that supports business growth
There are many benefits that arise from digitalising invoice processing. And fortunately, implementing a true e-invoicing solution is easier and more cost effective than you may think.