Embracing the Power of Digital Technologies in the Construction Industry: How finance can lead the way

The benefits of technology in the construction sector are widely recognised. Innovations such as BIM (Building Information Modelling), 3D printing, drones and digital supply chains are enhancing productivity and reducing costs, which remain critical drivers for the sector.

But as well as construction-specific technologies, it’s worth considering where technology can add value to back office functions such as operations. It’s here that finance can lead the way – and at the same time address the difficulties it traditionally faces in visibility of spend and managing financial risk.

Expense, travel and invoice make up a significant percentage of construction companies’ expenditure. They’re also typically manual and paper-based, which means they hamper productivity and efficiency too. But they can be transformed by AI and machine learning technologies. Such technologies give finance the greater visibility, control and insight over spend management processes it needs. They also drive productivity and increase efficiency, helping to reduce costs.

In this eBook, we’ll share with you how SAP® Concur® spend management solutions can help transform expense, travel and invoice processes to put money back on your bottom line.