Award acknowledges simplifying payment claims for NZ builders
The construction industry in New Zealand is known for its innovation and commitment to delivering high-quality projects.
In line with this ethos, Payapps, a global construction software as a service (SaaS) solution, has been honoured with the prestigious ABA100 SaaS Innovation Award in The Australian Business Awards 2023.
This recognition highlights Payapps’ outstanding commitment to helping main contractors and subcontractors collaborate more effectively on construction projects, and revolutionising payment (or progress) claim management, benefiting the construction industry in New Zealand.
Recognising dedication to the construction industry
Payapps’ receipt of the award is a testament to the dedication and efforts of its team. Executive chairman and co-founder Geoff Tarrant expressed his pride in the recognition, and emphasised the company’s commitment to providing innovative solutions tailored to the specific needs of construction professionals.
By focusing on the unique requirements of the construction industry, Payapps aims to make a tangible difference in how payment claims are managed.
Innovative payment claim management for builders and subcontractors
Payapps’ award-winning payment claim management solution simplifies and standardises the process for builders and subcontractors across New Zealand.
With seamless integration with various project, construction and financial management software, Payapps offers real-time data on all project payment requests and approvals.
This allows for enhanced visibility, transparency and streamlining of the payment claim management process, a key reason Payapps won the award.
Supporting New Zealand builders in the current environment
In the current challenging business environment, builders and subcontractors must have access to technology that supports them and their clients.
In light of the Construction Contracts (Retention Money) Amendment Act 2023 legislation change in New Zealand that ensures subcontractors are paid retention money even when a construction company collapses, Payapps offers a valuable solution for subcontractors and main contractors to manage retention funds effectively.
It provides a seamless and transparent integration with financial management software, ensuring that retention money is accurately recorded and reported to subcontractors regularly, meeting the obligations outlined in the law.
By using Payapps, subcontractors and main contractors can easily navigate the complexities of the new retention money regime while benefiting from improved compliance, reduced financial risk, and fairer outcomes.
International recognition and opportunities:
As a winner of the ABA100 SaaS Innovation Award, Payapps is eligible to compete in the international arena at The World Business Awards.
This achievement allows the company to showcase its payment claim management platform against global leaders, demonstrating the excellence and innovation present in the New Zealand construction industry on a global stage.
Payapps’ recognition highlights the company’s commitment to delivering innovative solutions that simplify and improve payment claim management for builders and subcontractors.
By leveraging cloud-based technology and streamlining processes, Payapps is contributing to the continuous growth and advancement of the construction industry in New Zealand.
As builders and subcontractors in New Zealand embrace digital transformation, the company offers a reliable and efficient payment claim management solution that supports collaboration and enhances productivity.