Payapps

[Payapps @payappssoftware]

In order to prevent an 'insolvency crisis' in the construction industry, as Rudi Klein terms it - new, and drastic legislation has been drafted by Lord Mendlesohn (pictured) to tackle late payment.

What are your thoughts on this?

https://t.co/3GrGZf8erf

[Payapps @payappssoftware]

In this article, (https://t.co/pPC5973Yrh) David Greenwood at Pinsent Masons cites that the digital transformation of the UK construction industry is an opportunity to re-think poor payment practices.

This digital future is closer than you might think:

https://t.co/hJdVdxg7W9

[Payapps @payappssoftware]

The Construction Leadership Council has made a series of requests to the Government after a survey it carried out found 46% of companies in the sector will struggle to maintain a viable business if the market is depressed for the next three months.

https://t.co/Fn9OyKWlDN

[Payapps @payappssoftware]

Having reported that that was a gap to accessing finance for firms that were over £45m in turnover, but not 'Investment-grade' - the Chancellor Rishi Sunak has announced increased access to finance.

https://t.co/U7r2ecStu8

[Payapps @payappssoftware]

Taylor Wimpey deserves huge credit for their 'pay it forward' initiative that will have a significant impact on their supply chain.

It sends a very clear message that they are kind of contractor that you would want to work for as a supplier.

https://t.co/EpBIAhUGRk

[Payapps @payappssoftware]

Now, more than ever, the critical nature of construction is clear for everyone to see.

For an industry that's plagued with perception issues, the industry has really stepped up amidst this crisis.

https://t.co/FSAu4LKsj2

[Payapps @payappssoftware]

Are construction payment processes deliberately obfuscated to delay payment?

At a recent roundtable, we discussed how the industry can tackle its late payment woes - https://t.co/PsAU26oFqI

See how Payapps can help simplify payment processes - https://t.co/SVPtBitb0x

[Payapps @payappssoftware]

Taken directly from CBI's excellent industry report, (https://t.co/Jy0lIe2Tqt);

'Better cashflow will increase trust between firms, reducing the industry’s dispute culture.'

That is precisely what Payapps was designed to solve.

Find out more here - https://t.co/SVPtBitb0x

[Payapps @payappssoftware]

We're viewing the package of measures put together for the UK construction industry with cautious optimism.

That said, there's one area that jumps out at us as needing some more clarity. The £330bn finance facility.

https://t.co/4eAXaxiUtx

[Payapps @payappssoftware]

Have the UK's package of measures gone far enough to protect the #Construction industry and its workers against #coronavirus?

Should sites stay open to maintain the productivity of the industry, or better protect workers by closing all sites?

[Payapps @payappssoftware]

How to recession-proof your business - the 5-key ways that contractors can best prepare to face an impending recession from @constructiondive

https://t.co/cTUDEGUva3

[Payapps @payappssoftware]

Italy-based Permasteelisa Group are the largest envelope specialist operating in the UK.

With Italy being one of the hardest-hit areas, their approach to how they are continuing to do business in this climate shows real creativity.

https://t.co/7nEVH7wSyy

[Payapps @payappssoftware]

Payment has long been one of the most contentious issues in the Construction Industry. Has the 'Construction Act' and its various amendments made any difference? https://t.co/55Tp0QTzpt

[Payapps @payappssoftware]

The Federation of Master Builders (FMB) is calling on the Government to combat the rise in SME redundancies and project cancellations with a 3-month tax holiday on VAT, PAYE and CIS payments, and to extend the £25,000 grant to construction firms.

https://t.co/3iNIej0wWN

[Payapps @payappssoftware]

Ever wanted to see the best and worst payers in the Construction Industry?

This league table shows average payment times, % of invoices not paid within terms and % of invoices paid with 60 days.

This level of transparency is to be applauded. 👏

https://t.co/mCLg2PYJ12

[Payapps @payappssoftware]

Leo Quinn, CEO of Balfour Beatty believes that the increase in insolvencies that we have seen of late could be avoided if contractors were burdened with 'less risk'.

One thing that we've learned is that visibility is one of the best mitigators of risk.

https://t.co/0Z83KRMSNQ

[Payapps @payappssoftware]

For anyone operating in the construction industry in these unprecedented times, the one thing we're all searching for is 'certainty'.

Here are the 6 ways that Construction Dive believe that Coronavirus will impact construction.

https://t.co/BW5VHVoPbr

[Payapps @payappssoftware]

We often talk about digital construction and how our technology can help firms achieve efficiencies and drive growth, but one equally important but less obvious area where digital can benefit is the opportunity to put a dent in the skills crisis.

https://t.co/cEQ2nK8t0x

[Payapps @payappssoftware]

Construction News has reported that 36 construction businesses fell into administration in February 2020 alone.

The general election provided some reason to be cheerful, let's hope these insolvencies are just a hangover from a tough end to 2019.

https://t.co/uDUK5V2ZNA

[Payapps @payappssoftware]

It's little wonder the construction industry has the lowest industry productivity ratings when so much time is wasted on disputes.

Payapps exist to reduce this waste by digitizing payment processes, ensuring collaboration throughout the supply chain.

https://t.co/Tm8FIcyRkv