In this communication, we take a deeper dive into a valuable feature in GCPay that you may not yet be aware of, but could benefit from using! 

Hot off the Press: GCPay's Industry Report for 2024

The U.S. construction market for 2024 seems uncertain based on many leading indicators. GCPay asked 120 general contractors, specializing in commercial construction, what their 2023 project portfolio looked like and what they expect for 2024. Get a sneak peek first at the report which provides insight from 120 general contractors who participated.

This report goes into detail on what 2023 produced and what changes general contractors expect in 2024.  In addition to this market outlook, learn about software technology challenges and what key trends are being experienced

 by many general contractors.

A few of the benefits from reading this report include:

• Understanding general contractor optimism for 2024 related to project starts and project delays.
• Learning about key challenges that peers face with subcontractor management, and how they overcome them.
• Discovering where automation has been implemented for maximum benefit.

Also featured in this industry report is the market outlook for project starts and delays in 2023 and what’s forecasted in 2024. In addition, you’ll learn about subcontractor challenges and software solutions being implemented to help automate project finance management.

A few key statistics are:

• 63% of general contractors believe 2024 will not provide fewer project starts than 2023.
• 54% of general contractors saw more change orders produced from subcontractors in 2023 and expect the trend to continue.
• 75% of general contractors will not be adding new software to their technology portfolio until they begin consolidating applications.

To read the full report, Construction Market Outlook & Technology Trends, click on the button below.