As your subcontractor business works alongside general contractors, you share their goals of keeping projects running smoothly and turning a reliable profit. How can you connect your teams, manage cash more carefully, and keep your customers and employees happy?
Let’s have a look at 5 ways you can transform your business with cloud software
Connected Components of a Business Leads to Profitable Growth
Subcontractors usually use up to 10 software applications that are not integrated well. Due to this, employees risk wasting time when bouncing between applications just to perform routine tasks. Without consolidated datasets, Management and Finance teams do not possess the visibility required to properly analyze projects or the business as a whole. Using cloud software, subcontractors can connect all components of their business: finance, payroll, sales, project management, etc. Cloud brings visibility into business operations and simplifies data entry.
Effectively Managed Cash Flow
A shortage in cash flow influences whether a job will be completed in time and stumps overall business growth. With cloud software, it is possible to combine invoices, billings, and bank balances into a clear cash flow that allows you to meet payroll and manage your business while being more prepared. Being connected in the cloud, project management and accounting teams get access to up-to-date views of project budget and expenses allowing for effective project planning.
Established Project Controls
Disconnected systems can complicate business processes. Cloud technology allows you to avoid this problem by providing robust workflows and process management, allowing for closure of specific periods, years, modules, and batches. Close early. Simple controls, powerful results.
Cloud software improves the data flow between teams and allows them to align their activities. Automatically updated timecards, tasks, etc. make it possible to work well-coordinated and stay connected. Having access to the same information at the same time, team members can meet deadlines successfully and work on unexpected issues quickly.
Streamlined Workflows and Integrated Teams
It is very difficult to track equipment and suppliers with many disparate sources of documents or PDFs located in different places. Due to this visibility suffers, making it challenging to accurately monitor progress. Cloud technology provides smart tools that use workflows and automation to generate a real-time analysis of present projects and to intelligently predict future ones. Also, teams can automate and streamline repeatable processes, enhancing general efficiency.