The construction industry has taken an uneven path towards payment automation. As in most segments, some construction companies now use technology to help solve the AP challenges they face. But many more still rely on the tried-and-true paper check to pay suppliers and subcontractors—at the expense of efficiency and costs. Is construction finally realizing how payment automation integrates simply, makes job-cost accounting easier, and increases process visibility and control? We spoke with Peter Smith, VP in Construction at Corpay, about what the future looks like for the industry’s AP teams.
Note: The opinions expressed on Fintech in Focus News & Views are those of the speakers only, and do not necessarily reflect the views of Corpay or FLEETCOR Technologies Inc.