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eGuides and Whitepapers

Construction Industry Payments – Challenges and Innovations

Last Updated by Nikesh Mistry

Following the success of this year’s roundtable event co-hosted by Open ECX and Optal on 16th March at Mastercard’s Canary Wharf offices, we have published a White Paper titled ‘Construction Industry Payments – Challenges and Innovations’.

The White Paper explores a number of payment-related issues and challenges – and potential solutions – that were discussed by senior commercial and financial professionals from leading construction businesses, including Kier Group, Lakehouse Contracts, SISK Group and United Living.

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In light of The Construction Act and the new ‘Duty to Report on Payment Practices and Performance’ legislation applicable to larger businesses, Construction contractors are turning their eye to WebContractor from Open ECX.

To understand why WebContractor is getting so much attention, it’s important to briefly explore the UK construction industry’s challenges around delayed and late payments.
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Building on our blog, ‘A back-office take on the Construction Leadership Council’s ‘Modernise or Die’ recommendations’, we’ve created an eGuide featuring five modern construction software solutions that can help streamline your business processes from the back-office, saving you time, effort and spend across multiple departments while also tracking data more easily and allowing quick access to important information.

What’s in the eGuide?

Now is the time to prepare for the future: discover how to deploy efficiencies across your business, achieve a good reputation as a reliable, forward-thinking firm, and provide more certainty by:

  • Electronically exchanging documents with your supply chain
  • Improving visibility and control of your subcontractor applications and payments
  • Automating your credit control processes
  • Modernising the way you estimate and tender for jobs
  • Gaining a single version of the truth in a modern cloud ERP system

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Duty to Report on Payment Practices and Performance in Construction

Last Updated by openecx-admin

Introducing the new payment performance reporting legislation

From 6th April 2017, the Government is making it compulsory for large businesses to report on their payment practices, policies and performance in an effort to achieve the following objectives:

  • Increase transparency and public scrutiny of large businesses’ payment practices and performance.
  • Give small business suppliers better information so they can make informed decisions about who to trade with, negotiate fairer terms, and challenge late payments.

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Adopting E-Commerce Technologies In The P2P Process

Last Updated by Neal

Download the White Paper: Adopting E-Commerce Technologies In The P2P Process

In this white paper, Open ECX product manager and ex CIO of the Balfour Beatty Group, Colin Darch, examines adoption of e-commerce technologies within a construction Purchase to Pay (P2P) process.

He looks in detail at some of the potential drivers for e-commerce adoption as well as highlighting the key benefits for constructing a strong business case.

Read an excerpt from the white paper below and download the full PDF document, for free.

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