Press release
Priority Brings Payments and Banking Solutions Targeted to Construction to the 2022 CFMA Conference
ALPHARETTA, Ga.--(BUSINESS WIRE)-- Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company helping customers
About this update from Priority Technology Holdings, Inc.
[{"type":"text","content":" ALPHARETTA, Ga.--(BUSINESS WIRE)--\nPriority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company helping customers collect, store, and send money, will be launching their next vision for solving the construction payment challenges at the Construction Financial Management Association (CFMA) annual conference scheduled for May 14-18, 2022 in Atlanta.\n\nRepresentatives from Priority will be available throughout the conference to engage with attendees, answer questions, highlight products, and participate in the broader conversation happening among thought leaders at the forefront of construction finance.\n\nCash flow management will be a frequent topic of discussion considering a recent survey showing that 84% of construction firms experienced cash flow issues in the preceding 12 months, and nearly 20% dealt with them on a constant basis. Another survey showed that cash flow problems reduce profits for 47% of firms, delay projects for 33%, and lead 30% to take out loans. More than just an annoyance, cash flow problems create chaos and cut deep into the bottom line in ways that it’s hard (or impossible) to recover from. Seeing a golden opportunity to both add to and learn from this discussion, Priority relishes the chance to engage with anyone and everyone at the CFMA conference.\n\nThe issues relevant to construction finance professionals are the same ones that Priority strives to solve with an all-encompassing platform that integrates payment and banking infrastructure into a single solution driven by automation. By combining together the constituent parts of construction finance, streamlining how money moves in and out of accounts, and automating time, labor, and error-intensive workloads, Priority transforms how construction handles payments.\n\n“Innovation is long overdue in construction cash flow management where too many processes remain limited by manual, paper-based, inefficient methods that have not changed in decades,” said Tom Priore, Chairman and Chief Executive Officer of Priority. “The pandemic has exacerbated many of these issues and accelerated the timeline for construction companies to embrace digital transformation and adapt for the future. Priority works at the convergence of payments, construction, and technology, giving us a unique perspective on why and how the indust...