2022 Construction Finance Management Practices & Opportunities Report
2022 North American Industry Report Key Findings:
The slow down in construction projects as a result of COVID may be in the rearview mirror but it had lasting affects on how general contractors are managing construction projects.
This report goes into detail on what has changed and what led the majority of contractors to make a change in how they manage payments for construction projects.
- 63% of general contractors chose to automate work rather than hire additional staff
- >20hrs a month goes to managing pay app management
- 27% of general contractors are migrating to automated AFP processes
- E-Payment has increased by 40% since COVID ended
* Based on data from 240 contractors