Digital payment solutions have been revolutionizing the way businesses across various industries manage payments. Now, construction firms are turning to digital payment solutions to increase cash flow and clear accounts receivable faster. Handle, a company that offers credit software specifically for the construction industry, has now added Fiserv’s embedded payment capabilities to its platform.
Benefits of integrating industry-leading payment capabilities into the Handle software platform
With the integration of these capabilities from Fiserv, Handle’s construction software will include secure payment acceptance. This feature will provide construction firms with a hassle-free solution for secure payment acceptance that will save them time and money. By integrating industry-leading payment capabilities into the Handle software platform, construction firms will be able to modernize how they manage payments.
Digital payment solutions in the construction industry
Construction firms have a reputation for lagging behind other industries when it comes to the adoption of digital payment solutions. However, the industry is changing rapidly with more and more firms adopting digital payment solutions. It is no longer a luxury but rather a necessity to digitize. In fact, according to a report, almost half of the middle-market professionals in the construction industry said that investing in technology was a top priority over the next 12 months.
Benefits of Digital Payments Technology in Alleviating Common Industry Headaches
Digital payment technology is alleviating some of the construction firms’ headaches, such as getting paid on time and getting paid quickly. Processing checks manually can be time-consuming, and errors could lead to payment delays. Digital payment solutions, on the other hand, are more efficient and help construction firms get paid on time. They are also more secure and reduce the risk of fraud, a common problem for the construction industry.
Investing in technology is a top priority for middle-market professionals
The construction industry is aware of the benefits of digitization and is increasingly looking to invest in technology. The report mentioned earlier found that four out of 10 construction firms are increasing their budget specifically to add technology. This is because construction firms seek the speed and operational efficiency of digitization. Investing in technology is no longer seen as a luxury but rather a necessity to stay competitive in the industry.
Handle’s addition of Fiserv capabilities
Handle’s construction software already offers solutions for managing credit and payment rights, specifically for credit and finance teams in the construction industry. With the addition of Fiserv’s capabilities, Handle will now be able to streamline construction payment processing through its integration. This will include the integration with CardPointe Gateway and other PCI-compliant tools via Fiserv’s integrated software vendor (ISV) engine, according to the press release.
In conclusion, the addition of Fiserv’s embedded payments capabilities to Handle’s construction-specific credit software provides construction firms with a seamless solution for secure payment acceptance. This will ultimately help these firms save time and money while also reducing the risk of payment fraud. It is a welcome development in the construction industry that is moving towards digitization at an increasing rate. As construction firms continue to invest in technology to enhance speed and operational efficiency, they will continue to benefit from the digital payment solutions that are rapidly emerging in the market.