The Integration Imperative

The survey reveals a striking reality: 41% of finance teams still rely on manual processes for managing progress claims, while 23% continue using spreadsheets for payment approvals. This dependence on disconnected systems isn’t just inefficient—it’s becoming unsustainable as regulatory requirements grow more complex.

For finance professionals managing multiple projects, the lack of integration between accounting or financial software and with other systems creates significant bottlenecks. In fact, 29% of respondents reported that internal delays and slow approvals frequently cause payment delays, highlighting the urgent need for seamless system integration.

Compliance in a Complex Regulatory Environment

One of the most compelling arguments for systems integration is its critical role in maintaining compliance with Security of Payment Act (SOPA) and Construction Contracts Act (CCA) requirements. The survey found that 53% of finance professionals believe it is difficult to meet their deadlines when using fragmented, manual systems.

More concerningly, 26% of respondents reported that they rarely or never have visibility into when payments are due to comply with SOPA obligations. This lack of visibility creates significant compliance risks that could result in penalties or disputes.

Future-Proofing Finance Operations

Looking ahead, the integration of financial systems isn’t just about efficiency—it’s about building resilience. The survey revealed that finance teams using integrated systems are significantly better positioned to:

• Reduce time spent on manual data entry (31% spend just 0-1 hours weekly on payment processing, compared to 33% of non-integrated teams spending 10+ hours)
• Improve compliance management (81% find it easier to meet payment deadlines)
• Enhanced real-time visibility across projects and stakeholders

The Talent Connection

Perhaps most significantly, the survey identified talent shortages and retention as the biggest challenge facing finance teams (ranked highest with a mean score of 4.98 out of 6). Modern professionals expect access to integrated, efficient systems that allow them to focus on strategic work rather than manual data entry.

Looking Ahead: The Future of Construction Finance

As we look to the future, several trends are becoming clear:

1. Cloud-based Integration: Finance teams are increasingly moving towards cloud-based solutions that offer seamless integration with construction ERP, project management, accounting and financial software.
2. Real-time Visibility: The demand for instant access to financial data across projects will continue to grow.
3. Automated Compliance: Systems that automatically track and manage regulatory requirements will become standard.

The Path Forward

The message from our research survey is clear: integration of financial systems is no longer optional for construction finance teams. With 54% of survey respondents identifying automated payment deadline reminders as their top desired feature, and 51% prioritising digital approval processes, the need for systems integration is evident.

Finance leaders must evaluate their current systems and consider how integrated solutions, such as Payapps, can help address their most pressing challenges. The cost of maintaining disconnected systems—in terms of efficiency, compliance risk, and talent retention—is simply too high to ignore.

For a deeper dive into these insights and more findings about the future of finance professionals in construction, download the complete report.

The post Future-Proofing Finance Teams: Why Integration is <div style="height:2px" aria-hidden="true" class="wp-block-spacer"></div>Non-Negotiable appeared first on Payapps.

The Integration Imperative

The survey reveals a striking reality: 41% of finance teams still rely on manual processes for managing progress claims, while 23% continue using spreadsheets for payment approvals. This dependence on disconnected systems isn’t just inefficient—it’s becoming unsustainable as regulatory requirements grow more complex.

For finance professionals managing multiple projects, the lack of integration between accounting or financial software and with other systems creates significant bottlenecks. In fact, 29% of respondents reported that internal delays and slow approvals frequently cause payment delays, highlighting the urgent need for seamless system integration.

Compliance in a Complex Regulatory Environment

One of the most compelling arguments for systems integration is its critical role in maintaining compliance with Security of Payment Act (SOPA) and Construction Contracts Act (CCA) requirements. The survey found that 53% of finance professionals believe it is difficult to meet their deadlines when using fragmented, manual systems.

More concerningly, 26% of respondents reported that they rarely or never have visibility into when payments are due to comply with SOPA obligations. This lack of visibility creates significant compliance risks that could result in penalties or disputes.

Future-Proofing Finance Operations

Looking ahead, the integration of financial systems isn’t just about efficiency—it’s about building resilience. The survey revealed that finance teams using integrated systems are significantly better positioned to:

• Reduce time spent on manual data entry (31% spend just 0-1 hours weekly on payment processing, compared to 33% of non-integrated teams spending 10+ hours)
• Improve compliance management (81% find it easier to meet payment deadlines)
• Enhanced real-time visibility across projects and stakeholders

The Talent Connection

Perhaps most significantly, the survey identified talent shortages and retention as the biggest challenge facing finance teams (ranked highest with a mean score of 4.98 out of 6). Modern professionals expect access to integrated, efficient systems that allow them to focus on strategic work rather than manual data entry.

Looking Ahead: The Future of Construction Finance

As we look to the future, several trends are becoming clear:

1. Cloud-based Integration: Finance teams are increasingly moving towards cloud-based solutions that offer seamless integration with construction ERP, project management, accounting and financial software.
2. Real-time Visibility: The demand for instant access to financial data across projects will continue to grow.
3. Automated Compliance: Systems that automatically track and manage regulatory requirements will become standard.

The Path Forward

The message from our research survey is clear: integration of financial systems is no longer optional for construction finance teams. With 54% of survey respondents identifying automated payment deadline reminders as their top desired feature, and 51% prioritising digital approval processes, the need for systems integration is evident.

Finance leaders must evaluate their current systems and consider how integrated solutions, such as Payapps, can help address their most pressing challenges. The cost of maintaining disconnected systems—in terms of efficiency, compliance risk, and talent retention—is simply too high to ignore.

For a deeper dive into these insights and more findings about the future of finance professionals in construction, download the complete report.

The post Future-Proofing Finance Teams: Why Integration is <div style="height:2px" aria-hidden="true" class="wp-block-spacer"></div>Non-Negotiable appeared first on Payapps.

In this blog, we’ll break these challenges down and explore how to overcome them.

1. Talent Shortages and Employee Retention

The Problem

Talent shortages are a growing concern in the construction industry, with 36% of finance professionals ranking it as their biggest challenge. Small finance teams, often consisting of just 1-3 members, are bearing the brunt of increasing workloads. This, combined with outdated systems and manual processes, is leading to frustration and burnout among employees.

The Impact

When teams are understaffed and overworked, progress claim approvals are delayed, compliance risks increase, and project deadlines are missed. Dissatisfaction with manual processes and poor work-life balance is also driving talent turnover, creating a vicious cycle of inefficiency.

The Solution

To address this, companies need to invest in modern, user-friendly tools that automate repetitive tasks and reduce manual workloads. Leading builders like Buildcorp trust specialised tech such as Payapps to streamline 600+ progress claims in a month, allowing their finance teams to focus on higher-value tasks. By improving workflow efficiency and reducing administrative burdens, businesses can enhance employee satisfaction and retain top talent.

2. Technological Integration Challenges

The Problem

Many finance teams are still relying on outdated systems, with 41% of respondents admitting they use manual processes for progress claims. The lack of integration between finance tools and existing ERP or accounting systems is creating bottlenecks, with 29% of teams reporting delays due to internal handovers and communication breakdowns.

The Impact

Manual processes are not only time-consuming but also prone to errors. Without seamless integration, finance teams struggle to collaborate effectively with commercial and operations departments, leading to delays in approvals and payments. These inefficiencies can strain relationships with subcontractors and disrupt project timelines.

The Solution

Adopting specialised construction technology like Payapps can transform how finance teams operate. Payapps integrates seamlessly with leading ERP and accounting platforms, automating workflows and providing real-time visibility into progress claims. By digitising and standardising processes, teams can reduce manual data entry, improve collaboration, and eliminate delays.

3. Regulatory Compliance and Payment Deadlines

The Problem

Regulatory compliance is a constant headache for finance professionals, particularly when it comes to meeting payment deadlines under the Security of Payment Act (SOPA) in Australia and the Construction Contracts Act (CCA) in New Zealand. According to the survey, 53% of respondents find it difficult to ensure payments comply with these regulations.

The Impact

Without clear visibility into progress claim deadlines, finance teams risk missing payment due dates, which can lead to disputes with subcontractors, financial penalties, and damage to business relationships. Manual tracking of claims further exacerbates the problem, increasing the likelihood of errors and non-compliance.

The Solution

Automation is key to staying compliant. Industry-recognised tools such as Payapps provide real-time visibility into progress claims and payment deadlines, sending automated reminders to ensure payments are processed on time. Digital approval processes also help teams meet regulatory requirements while reducing the risk of disputes and penalties.

Embracing Digital Transformation for a Resilient Future

The challenges facing finance professionals in construction are significant, but they’re not insurmountable. Talent shortages, technological inefficiencies, and compliance pressures are putting even high-performing finance teams under strain, but the insights from our report highlight clear pathways to improvement.

By addressing these challenges head-on—through better systems integration, and smarter workflows—finance teams can transform how they manage progress claims. Doing more with less isn’t just a goal; it’s a necessity in today’s fast-paced, resource-constrained environment.

The key takeaway? Technology is no longer a nice-to-have—it’s a must-have. By embracing digital tools that streamline processes and reduce manual workloads, finance teams can not only overcome these challenges but also build better together towards a stronger, more resilient foundation for the future.

Download our latest report “Building Efficient Finance Teams with Construction Technology” for more insights.

The post Top 3 Challenges for Kiwi Finance Professionals in Construction (and How to Overcome Them) appeared first on Payapps.

In this blog, we’ll break these challenges down and explore how to overcome them.

1. Talent Shortages and Employee Retention

The Problem

Talent shortages are a growing concern in the construction industry, with 36% of finance professionals ranking it as their biggest challenge. Small finance teams, often consisting of just 1-3 members, are bearing the brunt of increasing workloads. This, combined with outdated systems and manual processes, is leading to frustration and burnout among employees.

The Impact

When teams are understaffed and overworked, progress claim approvals are delayed, compliance risks increase, and project deadlines are missed. Dissatisfaction with manual processes and poor work-life balance is also driving talent turnover, creating a vicious cycle of inefficiency.

The Solution

To address this, companies need to invest in modern, user-friendly tools that automate repetitive tasks and reduce manual workloads. Leading builders like Buildcorp trust specialised tech such as Payapps to streamline 600+ progress claims in a month, allowing their finance teams to focus on higher-value tasks. By improving workflow efficiency and reducing administrative burdens, businesses can enhance employee satisfaction and retain top talent.

2. Technological Integration Challenges

The Problem

Many finance teams are still relying on outdated systems, with 41% of respondents admitting they use manual processes for progress claims. The lack of integration between finance tools and existing ERP or accounting systems is creating bottlenecks, with 29% of teams reporting delays due to internal handovers and communication breakdowns.

The Impact

Manual processes are not only time-consuming but also prone to errors. Without seamless integration, finance teams struggle to collaborate effectively with commercial and operations departments, leading to delays in approvals and payments. These inefficiencies can strain relationships with subcontractors and disrupt project timelines.

The Solution

Adopting specialised construction technology like Payapps can transform how finance teams operate. Payapps integrates seamlessly with leading ERP and accounting platforms, automating workflows and providing real-time visibility into progress claims. By digitising and standardising processes, teams can reduce manual data entry, improve collaboration, and eliminate delays.

3. Regulatory Compliance and Payment Deadlines

The Problem

Regulatory compliance is a constant headache for finance professionals, particularly when it comes to meeting payment deadlines under the Security of Payment Act (SOPA) in Australia and the Construction Contracts Act (CCA) in New Zealand. According to the survey, 53% of respondents find it difficult to ensure payments comply with these regulations.

The Impact

Without clear visibility into progress claim deadlines, finance teams risk missing payment due dates, which can lead to disputes with subcontractors, financial penalties, and damage to business relationships. Manual tracking of claims further exacerbates the problem, increasing the likelihood of errors and non-compliance.

The Solution

Automation is key to staying compliant. Industry-recognised tools such as Payapps provide real-time visibility into progress claims and payment deadlines, sending automated reminders to ensure payments are processed on time. Digital approval processes also help teams meet regulatory requirements while reducing the risk of disputes and penalties.

Embracing Digital Transformation for a Resilient Future

The challenges facing finance professionals in construction are significant, but they’re not insurmountable. Talent shortages, technological inefficiencies, and compliance pressures are putting even high-performing finance teams under strain, but the insights from our report highlight clear pathways to improvement.

By addressing these challenges head-on—through better systems integration, and smarter workflows—finance teams can transform how they manage progress claims. Doing more with less isn’t just a goal; it’s a necessity in today’s fast-paced, resource-constrained environment.

The key takeaway? Technology is no longer a nice-to-have—it’s a must-have. By embracing digital tools that streamline processes and reduce manual workloads, finance teams can not only overcome these challenges but also build better together towards a stronger, more resilient foundation for the future.

Download our latest report “Building Efficient Finance Teams with Construction Technology” for more insights.

The post Top 3 Challenges for Finance Professionals in Construction (and How to Overcome Them) appeared first on Payapps.

The post Access Coins and Payapps Integration to Transform Construction Industry Payments | IE appeared first on Payapps.

“The reason we were able to ramp up so quickly was that it is such a simple and easy application to use – both from submitting a claim from a sub’s perspective and also from a CA’s perspective.”

Doug Zuzic

CIO, ADCO Constructions

“What used to take us an hour now takes five or ten minutes. We’ve seen an amazing return on our investment and the guys in the field love it.”

Vlad Baltovski

Commercial Manager, Parkview

The post Access Coins and Payapps Integration to Transform Construction Industry Payments appeared first on Payapps.