Under Construction: Improving Payments in the Construction Industry

Late Payments Inflate Construction Bids by $273B

Late payments cause contractors to increase their bids by up to 10% — just so they can keep their businesses operating. The latest “Money Mobility Tracker®,” a collaboration with Ingo Money, weighs the impact of late payments on the construction industry and the importance of expediting transactions to keep costs down, projects on schedule and workers paid.

Inside the December Tracker
  • Payment delays in the construction industry have detrimental downstream effects, escalating costs throughout the entire sector.
  • Late payments do more than disrupt projects — they burden the workers driving these projects forward.
  • Leveraging digital technology to expedite payments will bring transformative change to the construction industry.