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Adaptive builds automation tools to speed up construction payments | TechCrunch

The construction industry has a slow payments problem. Studies have found that it takes anywhere from two to three months on average for construction companies to get paid, due to factors such as delays, multiple payment layers and cost overruns. The cost of sluggish construction contract payments climbed to $273 billion in 2023, representing 14% of the total project expenditures that year. Matthew Calvano, along with Henry Bradlow and Francisco Enriquez, thought that the cause laid in back-offi...

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