<ul><li>Late payments in the construction industry cost businesses $273 billion in 2023, representing nearly 14% of total construction costs.</li><li>Legacy payment processes in the construction sector hinder tracking and collection of B2B payments, damaging relationships between buyers and suppliers.</li><li>AP and AR automation can prevent late payments and improve communication between buyers and suppliers, leading to better working relationships.</li><li>Digitization and multi-rail payment solutions will drive greater efficiency in the construction industry and encourage automation and acceptance of multiple payment solutions.</li></ul>

Digital Payments Help Construction Firms Overcome Manual Misery

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