The construction industry is one of the biggest out there, accounting for 13% of global GDP and employing 7% of the world’s workforce. Despite this, the industry is massively lagging behind in terms of digitisation, with many commentators arguing that the "brick and mortar" industry is losing out massively by failing to adopt modern practices. In particular, the way in which construction companies manage their payments.
Konstructly is building a modern, all-in-one solution through which construction companies can maximise the efficiency of their payments. Its app digitises subcontractor invoicing and payment approvals (valuations) and connects payments to the respective quality checks of the works, trade handovers, and live progress.
The key challenge for Konstructly has been to actively encourage this change. However, Konstructly now counts one of the top 5 largest construction company as one of its customers and has a natural draw for customers in that it uses the ultimate incentive - cash. Konstructly's leadership team also has a wealth of experience and connections in the industry, and this kind of experience and influence will go a long way towards helping it reach more clients.
Kirsty
Company Specialist at Welcome to the Jungle
