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New research reveals how Payapps streamlines progress payment claims and increases productivity amidst workforce challenges in construction.
MELBOURNE, Australia, June 4, 2024 /PRNewswire/ -- Payapps, an award-winning construction software solution trusted by thousands of main contractors and subcontractors to simplify and standardise progress payment claims, has released its latest research report. Amidst an industry grappling with a booming pipeline of projects coupled with challenging labour shortages, Payapps' Building the Future: Navigating Challenges and Opportunities for Quantity Surveyors and Contract Administrators report highlights critical insights into how specialised construction technology is crucial in alleviating labour constraints and enhancing project efficiency.
Discover how Payapps' 'Building the Future' report unveils innovative solutions to combat construction labour shortages through advanced digital technology. Increase project efficiency and streamline payment claims with Payapps. Read the full report now.
The report, which surveyed over 1,000 construction professionals, indicated a significant benefit of digital solutions to improve productivity and collaboration that can assist with countering the adverse effects of labour shortages. Key findings suggest that companies using Payapps experience a notable increase in project efficiency, with non-specialised construction software users being three times more likely to spend 10 hours or more per week on repetitive admin tasks and processes.
"Construction firms are navigating through a storm of labour shortages and increased project demands. Our research indicates that technology is not just a tool but a strategic ally in addressing these challenges," said Geoff Tarrant, Co-Founder of Payapps. "With specialised construction technology like Payapps, companies are transforming their operational models, ensuring construction teams are more productive and projects are delivered efficiently despite the workforce challenges."
The report highlights that 61% of construction firms experience a positive impact of adopting digital tools, reducing the dependency on manual labour by automating critical processes around progress payment claims reviews and approvals. This automation compensates for the lack of skilled labour and ensures projects stay on schedule and within budget.
With the significant time savings achieved from automating routine administrative tasks, construction professionals are increasingly eager to devote their efforts to strategic areas that add substantial value to their projects. The 'Building the Future' report underlines that Quantity Surveyors and Contract Administrators are particularly keen to invest this newfound time into activities that foster business development and better cost management. This strategic engagement is vital for boosting overall productivity in the sector, as it allows professionals to focus on optimisation and innovation rather than just task completion.
"Customers who adopt Payapps can redirect their focus from mundane tasks to more strategic project management activities," said Scott Lockwood, Head of Customer Successs at Payapps. "This shift is crucial in times when every minute and every resource counts."
As the industry continues to evolve, Payapps remains committed to innovating and providing solutions that address the core challenges of the construction sector. The "Building the Future" report is part of Payapps' ongoing efforts to empower construction professionals with data-driven insights and tools for success.
To access the complete Building the Future report, click here. The global survey was conducted by Payapps, which included over 1000 Quantity Surveyor and Contract Administrator professionals from commercial construction companies in Australia, Ireland, New Zealand, Singapore, and the United Kingdom. Payapps thanks their global partners, including the Australian Institute of Quantity Surveyors and the New Zealand Institute of Quantity Surveyors, for asking their members to participate in this survey.
About Payapps
Payapps, an Autodesk Company, is a cloud-based collaboration tool for the construction industry. It helps main contractors and subcontractors simplify and expedite progress payment claims for construction projects, including variations and retentions. A simpler and faster digital process ensures greater transparency, increased accuracy, improved compliance, reduced financial risk, fewer disputes, and fairer outcomes. Payapps significantly cuts progress payment claim approval times while helping meet regulatory requirements. Compliance is improved and made easier with documentation verification integrated with the approval process. Seamless integration with a wide range of project, construction and financial management software helps provide real-time data on all project payment requests and approvals.
