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Research Reveals Talent Shortages and Manual Processes are Stifling Finance Teams in Construction

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MELBOURNE, Australia, Feb. 2, 2025 /PRNewswire/ — A new report has revealed significant challenges facing construction finance teams across Australia and New Zealand, with talent shortages, outdated systems, and manual processes topping the list of concerns. The findings by Payapps, an award-winning construction software solution trusted by thousands of main contractors and subcontractors to simplify and standardise progress payment claims, highlight the urgent need for digital transformation to alleviate pressure on finance professionals and enhance operational efficiency.

Conducted among 125 finance professionals, the survey underscores talent shortages as the most pressing issue, with 36% of respondents identifying it as their biggest challenge. This is compounded by dissatisfaction with manual workflows, particularly in managing progress claims, with 37% of finance teams expressing dissatisfaction with their current systems.

“Construction finance teams are being asked to do more with less, all while ensuring compliance with strict regulations like the Security of Payment Act in Australia and the Construction Contracts Act in New Zealand,” said Daniel Giles, CFO of Payapps. “These inefficiencies not only increase stress on teams but also jeopardise project timelines and financial stability.”

Key Findings:

Manual Processes Hamper Progress: A staggering 41% of teams still rely on manual processes for progress claims, leading to bottlenecks and delays.Compliance Risks: 53% of respondents find meeting payment deadlines under regulatory frameworks challenging, risking legal penalties and disputes.Technology Adoption Pays Off: Teams using Payapps are 81% more likely to meet compliance deadlines and experience fewer delays, highlighting the value of specialised digital tools.

The report also reveals that adopting digital tools significantly improves efficiency and job satisfaction. Finance teams leveraging technology report spending less time on manual tasks, freeing them to focus on strategic priorities.

A Call for Digital Transformation

With finance teams under pressure to manage growing workloads and navigate complex regulatory environments, the report advocates for adopting integrated digital solutions. Tools like Payapps, which automate and streamline progress claim processes, are identified as critical to addressing inefficiencies and retaining top talent.

“This report is a wake-up call for the construction industry,” added Giles. “Investing in technology isn’t just about efficiency; it’s about staying competitive, retaining skilled professionals, and delivering better project outcomes.”

The full report, “Building Efficient Finance Teams with Construction Technology,” is available for download here.  The survey was conducted by Payapps and included responses from finance professionals from commercial construction companies in Australia and New Zealand.   Payapps thanks their partners, including Accounting Times and Accountants Daily, for inviting subscribers to participate in this survey. We also sincerely thank our valued customers for their participation.

About Payapps

Payapps – An Autodesk Company, is a cloud-based collaboration tool for the construction industry. It helps main contractors and subcontractors simplify and streamline project progress claims and approvals, including contract variations.  A simpler and faster digital process ensures greater transparency, increased accuracy, improved compliance, reduced financial risk, fewer disputes and fairer outcomes. Payapps significantly cuts progress payment processing time, helping to meet regulatory requirements. Compliance is improved and made easier with documentation verification integrated with the approval process.Our award-winning solution seamlessly integrates with a wide range of construction ERPs and accounting software to help provide real-time data on all project payment requests and approvals.  Build Better Together With Payapps

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/research-reveals-talent-shortages-and-manual-processes-are-stifling-finance-teams-in-construction-302353791.html

SOURCE Payapps

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Magcubic Disrupts the Smart Projector Market with Affordable Products for Everyone

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BEIJING, March 10, 2025 /PRNewswire/ — Smart projectors can transform virtually any wall into a smart display, but their expensive price tags make them unrealistic for most buyers. Magcubic set out to revolutionize the projector market with the HY300 Pro in 2024, and now we’re back with the expanded HY300 lineup – led by the brand new HY300 Pro+, HY300 Ultra, and HY310 – that offers premium-quality hardware and an exceptional user experience in a series of ultra-affordable projectors.

Magcubic was created to challenge the status quo of conventional smart projectors. We started with a mission to make big-screen experiences accessible to a wider range of users, and we followed that by releasing a lineup of full-featured projectors that deliver a cinematic experience once priced at $1,000—now available for less than $100. Today, we’ve shipped 2 million units worldwide, an industry milestone that was once impossible on a global scale.

Unveiled in Beijing on March 9th with 100+ Chinese media outlets in attendance, the new HY300 series is available today in three versions, starting with the HY300 Pro, an entry-level projector designed with affordability and ease-of-use in mind. Next is the HY300 Pro+, an upgraded version featuring enhanced performance and an integrated speaker base for better audio playback. Third is the HY300 Ultra, an even more enhanced variant with electric focus, ensuring effortless image clarity. 

Alongside the expanded HY300 range is a brand new next-generation model called the HY310. This projector was crafted from the ground up to encompass a range of features designed to thrill cinema enthusiasts, including clear 1080p resolution with 4K decoding for crisp video performance, auto focus with auto keystone correction that ensures a sharp image every time the projector powers on, 260 ANSI lumens with a 10,000:1 contrast ratio for a bright picture that’s viewable in various lighting conditions, Air Mouse remote and voice controls for easy navigation, and built-in support for 1M+ apps, services, and entertainment options so that viewers always have something to watch.

The secret to keeping our ecosystem of high-quality projectors affordable – even with so many premium features packed inside – is our LCD technology, which uses liquid crystals that are electronically modulated in combination with polarizers to project images on a surface. While competitors choose pricey LEDs to prop up their products, Magcubic prioritizes proven liquid crystal display bulbs that produce premium visuals without inflating costs. To further drive down the price of our smart projectors, Magcubic’s proprietary manufacturing process is so efficient and effective that we’ve lowered our expenses by a whopping 80%. The end result is an entire series of premium smart projectors that rival more expensive DLP models at just a fraction of the typical price.

“We are redefining value by creating a unique convergence where spending less meets living better,” said Chen Yueyun, the General Manager of Magcubic. 

Today, Magcubic operates in 153 countries worldwide, with a growing presence in the United States. Driven by a product ecosystem that maximizes affordability while emphasizing quality and user experience, Magcubic believes that smart projectors will move beyond the niche market and become household commodities with the potential to surpass smart TVs.

ABOUT MAGCUBIC

Magcubic was founded by tech and home entertainment experts on a mission to bring big-screen experiences worldwide. Seeing the need for smart projectors that are well-made and affordable, we set out to disrupt the industry. Through premium materials and innovative manufacturing, we deliver high-quality products that save consumers money and delight users.

For media enquiries, please contact: 
ALICE ZHANG
Email: marketing@magcubic.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/magcubic-disrupts-the-smart-projector-market-with-affordable-products-for-everyone-302396870.html

SOURCE Magcubic

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Independence Pet Holdings Appoints Munir Hafez as Chief Technology Officer

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Veteran technology executive to drive innovation and digital transformation at leading pet insurance and services organization

NEW YORK, March 10, 2025 /PRNewswire/ — Independence Pet Holdings (IPH) today announced the appointment of Munir Hafez as Chief Technology Officer (CTO). With more than 30 years of experience aligning IT with business strategy, Hafez will lead the company’s technology initiatives and drive transformative growth.

Hafez brings a deep background in digital transformation, software engineering, and cloud technologies, with expertise in delivering next-generation applications across ERP, web, and mobile platforms. He has also successfully implemented agile-at-scale methodologies across diverse programs and teams.

“We are thrilled to welcome Munir to our leadership team,” said Kirk Haggard, CEO of Independence Pet Holdings. “His expertise and vision will be instrumental as we continue to enhance our digital infrastructure and drive innovation in pet health.”

“Joining Independence Pet Holdings as CTO is an exciting opportunity to lead innovation in the pet health industry,” said Munir Hafez, Chief Technology Officer of Independence Pet Holdings. “I look forward to collaborating with our talented team to develop cutting-edge solutions that enhance the lives of pets and their families.”

Hafez began his career as a software developer at Siemens and has since held senior leadership roles at Harris, PwC, Deloitte, and EY. Most recently, he served as CIO at TransUnion, overseeing digital technology initiatives for consumers and employees across more than 35 countries.

About Independence Pet Holdings
Established in 2021, Independence Pet Holdings, Inc. is a corporate holding company that manages a diverse and broad portfolio of modern pet health brands and services across insurance, pet education, lost pet recovery services, and beyond throughout North America.

View original content to download multimedia:https://www.prnewswire.com/news-releases/independence-pet-holdings-appoints-munir-hafez-as-chief-technology-officer-302397204.html

SOURCE Independence Pet Holdings

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Macronix OctaFlash Provides High-Performance Memory for New STMicroelectronics’ STM32N6 AI-Accelerated MCU Platform

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1Gb OctaFlash™ Memory Helps Enable Advanced AI Applications, 3D-like GUI Experience

HSINCHU, March 10, 2025 /PRNewswire/ — Macronix International Co., Ltd. (TSE: 2337), a leading integrated device manufacturer in the non-volatile memory (NVM) market and an ST Authorized Partner, today announced that STMicroelectronics (ST) is using Macronix OctaFlash™ memory for ST’s new STM32N6 high-performance microcontroller (MCU) platform integrating the high performance Neural Processing Unit (NPU), the Neural-ART AcceleratorTM. Macronix’s MX25UW1G45G and MX25UM51245G memories have been selected by ST for STM32N6 Discovery Kits and STM32N6 Nucleo evaluation boards, enabling the high-end designs to feature high-performance flash memory, enabling powerful artificial intelligence (AI) computer-vision applicability and a graphical user interface (GUI) experience that simulates 3D-like GUIs and animations for industrial, wearable, smart home, and medical applications.

“Neural processing presents an exciting opportunity for the STM32N6 and future ST microcontrollers, which we expect to see deployed throughout the industrial and consumer markets,” said Daniel Colonna, marketing director of the General Purpose and Automotive Microcontrollers Division at ST. “To ensure designers have the optimal tools to create products using the STM32N6 and high-performance flash memory, we have selected Macronix’s OctaFlash MX25UW1G45G and MX25UM51245G for the STM32N6 Discovery Kits” and “Macronix is a proven global supplier of industry-leading flash memory and a longtime ST Authorized Partner, which made the selection straightforward for us.”

“The STM32N6 represents an exciting new generation of high-performance microcontrollers for neural processing in artificial intelligence deployed on systems’ edges,” said F.L. Ni, vice president of marketing at Macronix. “That ST selected our MX25UW1G45G and MX25UM51245G high-performance flash devices stands as a testament to the memories’ exceptional performance and security, and ST’s commitment to high optimal reliability and user experience in such demanding applications.”

The STM32N6 is based on the Arm® Cortex®-M55 processing core, running at 800 MHz and includes Arm Helium vector technology. It’s the first STM32 MCU to embed the Neural-ART accelerator, an ST-developed neural processing unit (NPU) engineered for power-efficient edge AI applications. Clocked at 1 GHz and providing up to 600 GOPS, it enables real-time neural network inference for computer vision and audio applications.

The MX25UM/UW OctaFlash memories deliver “instant-on” performance and real-time system responsiveness in automotive, industrial and consumer applications, including AI. The ultra-high-performance OctaBus™ memory are capable of performing up to an operational frequency of and industry-leading 250MHz with 500MB/s read throughput. The MX25UM/UW OctaFlash empowers system architects to satisfy customers’ demands in high performance AI applications, such as computer vision and rich graphical user interfaces.

The MX25UM/UW OctaBus memory family supports efficient Execution-In-Place (XIP), management of over-the-air (OTA) software updates and data logging – features that complement STM32 MCUs well. MX25UM/UW memories are available in densities up to 2Gb and can support the most advanced AI and graphical user interfaces that leverage on the accelerators embedded in STM32N6.

About Macronix 
Macronix, a leading integrated device manufacturer in the non-volatile memory (NVM) market, provides a full range of NOR Flash, NAND Flash, and ROM products. With its world-class R&D and manufacturing capability, Macronix continues to deliver high-quality, innovative and performance-driven products to its customers in the consumer, communication, computing, automotive, networking and other market segments. Find out more at www.macronix.com.

OctaFlash and OctaBus are trademarks of Macronix International Co., Ltd. 
Neural-ART Accelerator is a trademark of STMicroelectronics.
STM32 is a registered and/or unregistered trademark of STMicroelectronics International NV or its affiliates in the EU and/or elsewhere. In particular, STM32 is registered in the US Patent and Trademark Office.

All other names may be registered trademarks of their respective owners.

Editorial contacts
Macronix HQ:
Michelle Chang
Director
Corporate Communication Office
Macronix International Co., LTD.
Tel: +886-3-578-6688 ext. 71233
Fax: +886-3-666-3169
Email: michellechang@mxic.com.tw

US:
Jerry Steach
CommonGround Communications (for Macronix)
Tel: +1-415-222-9996
Email: jsteach-cgc@att.net

View original content:https://www.prnewswire.com/news-releases/macronix-octaflash-provides-high-performance-memory-for-new-stmicroelectronics-stm32n6-ai-accelerated-mcu-platform-302394284.html

SOURCE Macronix

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