Construction News survey reveals endemic failings
There can be few more chronic and debilitating conditions ailing the construction industry than late payment. Constantly railed against, it remains an endemic feature of the sector.
But how widespread is it and to what severity? Moreover, what are the effects and what are the perceived barriers to prompt payment, as well as solutions?
To this end, Construction News, on behalf of payment management platform provider Oracle TPM, conducted a pan-industry survey and collated the results from over 600 respondents to compose an industry snapshot of the state of the sector.
This is what we found out.