How Payroll Automation Can Improve Your Construction Company's Cash Flow
Implementing a good system for overseeing payroll is one of the most overlooked components of managing a construction company. Keeping track of everyone's hours and payments can often prove to be an overwhelming task, especially given the fact that many construction companies tend to have a lot of employees and contractors working in different parts of the country or world.
The more businesses can perfect their payroll operations, the more they can improve cash flow. And one of the emerging trends when it comes to improving cash flow is by automating payroll responsibilities with the help of intricate construction management software.
If you have yet to utilize all the payroll automation tools and features construction management software programs have to offer, check out some of the more advanced benefits of using payroll automation software below!
Automatic Timesheet & Payment Tracking
Ensuring your timesheets and payment tracking is as accurate as possible is one of the quickest ways to Improve cash flow. Through payroll automation software, construction companies can keep better track of employee hours and payments, so your staff never has to worry about getting paid on time.
In addition to employee hours and payment tracking, construction accounting software can also automate other elements of your payroll, such as contractor payouts, fulfilling purchase orders, processing invoices, and more. Automating such payroll tasks will help significantly reduce any payroll errors that could ultimately affect monthly and annual cash flow.
Implement Paperless Solutions & Reduce Manual Entry
If you're still conducting most or all of your payroll duties on paper, odds are this manual entry process has probably cost you a few cash flow errors over the years. Manual payroll entry can take days – sometimes weeks – to account for all expense invoices and billing responsibilities. Not to mention, allocate part of your budget to printing and shipping costs.
Rather than filing away endless documents or spreadsheets into overstuffed cabinets, utilizing all the automated features of construction management software can help you go paperless with your payroll system. Save time and money on printing and mailing costs and create a customized dashboard that serves as a one-stop-shop for overseeing your entire company’s cash flow.
Simplify Your Invoice Process
Simplifying any aspect of your business operations saves time, money, and energy. Most construction companies process hundreds – sometimes thousands – of invoices every month.
When you automate payroll and invoicing processes, you can cut down on a wide variety of administrative and project management tasks, saving you even more precious time while helping you avoid mistakes.
With payroll automation software, you can still generate and customize branded invoices while creating custom billing plans for your contractors and clients – all with a few clicks of your computer mouse.
Automate Your Payroll Responsibilities With Sage 100 Contractor
Payroll automation is one of the most important tools a construction company can use to improve its cash flow. At Software Consultants, we help construction companies take advantage of payroll automation features with Sage 100 Contractor.
By utilizing proven construction management software such as Sage 100 Contractor to automate your payroll tasks, your company can streamline your billing and invoicing duties while significantly reducing your overall administrative tasks.
If you’re interested in improving your company’s cash flow, contact Software Consultants today to get started on implementing Sage 100 Contractor into your current business operations!