Benefits of choosing cloud payroll software for construction operations
Cloud-based payroll software is becoming a necessary tool for construction management – Discover its advantages, such as automatic salary deposits and managing employee databases effortlessly.
Cloud payroll software for construction management is a great way to save your company time and money. Many construction companies face the challenge of tracking onsite attendance and managing their shift timings or leave requests. Maintaining a manual logbook for employees and streamlining it with payroll can be a counterproductive activity and waste your time. Cloud-based payroll software eliminates this need. Today, you can integrate and automate onsite attendance with weekly payroll and eliminate any manual processes in-between.
Construction is one of the industries where labor is one of the costliest components of a project, ranging from 20% to 40% of total costs. Cloud-based payroll software provides operational efficiency for construction management at affordable rates. The integrated software also secures employee databases. Today more and more construction management companies are shifting to cloud payroll software to manage their payroll. It eliminates the time you spend on tedious calculations and other activities related to payroll, thus helping you save your time and money.
Keep reading for,
- Reduces manual work and error
- Improved payroll Management
- Considers shifts and overtime rates
- Cost savings
- Faster technology
- Compliance with policies
- Remote access
- A central source of employee data
Cloud-based payroll software is a feature of construction management software designed to efficiently manage and distribute payrolls for the construction industry.
- The software auto-generates and distributes periodic payrolls. It allows office staff to configure and manage payrolls. They can also set up shifts, OT and project timings.
- With construction management cloud payroll software, the registered user can seamlessly access, operate, and control payroll data.
- The construction company can manage employee onboarding, shift timings, overtime, leaves and salary for onsite and off-site employees.
- It allows mobile time cards with location verification.
- The software lets the responsible site manager or foreman approve timecards.
Read more on the benefits of cloud payroll software.
Automated Payroll management
Cloud-based construction management software makes payroll management automated allowing small to large firms to focus on other revenue-generating responsibilities.
In construction projects, the exact hours worked and associated labor costs keep changing, depending on the type and size of the project. This makes it more important to maintain a transparent, up-to-date system that allows all parties easy access to all relevant project data. It is natural to keep track of the changes. However, despite the multiple tracking methods, manual techniques have certain limitations, such as communication delays or human errors.
Cloud payroll software for construction management is the easiest way to manage all payroll needs, from employee registrations to payments. It allows you to track labour cost for a project automatically, compare to estimates and address issues when labour cost starts to impact profits.
Further, the design of cloud-based construction management software makes payroll management automated. Companies can easily fetch attendance data of the field workers from their approved digital time cards provided by the company and generate payroll for each payroll cycle. The functionality eliminates the time you spend on tedious calculations and other activities related to payroll, thereby helping you save your time and money.
Benefits of using cloud payroll software for construction management
Reduces manual work and error
A cloud-based construction management payroll software automatically fetches employee attendance data and generates payroll according to specified frequency. Software drastically reduces manual work and human errors while calculating employee salaries and overheads. Payroll software also maintains and updates employee salary history and personal data records. Employees and management can also download the payroll reports anytime.
Improved payroll management
Responsive to employee leaves
Companies can also pre-set types of leaves and take-off periods for the company or specific teams or employees in cloud payroll software. Employees can apply for leaves through their mobile devices using cloud-based software. The software calculates and processes salary according to an employee's leaves. A cloud-based payroll management system works incredibly well for management in the construction industry as most employees are working from the site.
Considers shifts and overtime rates
Hiring on-site employees for construction on hourly wages is a common practice. The compensation varies as per skill sets and across shift timings. The salary calculations become even more complicated with overtime. Using cloud payroll software, a company can effectively manage shift and overtime rates. They can feed working hours, overtime hours, and wages beforehand into the system and generate reports when needed. There is no need to provide employee data into the system manually. Today, the software is advanced to automatically track data and calculate salaries from employees' punching records.
Regardless of the size of your construction company, cloud payroll software saves a lot of operational costs. The use of software can save many manual hours spent on calculations. Also, a construction company doesn't have to pay a hefty amount on in-office hardware and software.
Cloud payroll software is constantly upgraded with bug-free and faster technology to make the payroll system as efficient and effortless as possible. Cloud payroll software makes businesses run quicker and more efficiently. When a company uses in-house servers for construction management, payroll systems need constant upgrades, which are time-consuming, costly, and resource-intensive.
Compliance with policies
Construction companies can set up their payroll interface according to their parameters and policies. Cloud payroll software lets companies configure their payroll settings according to shift timings, hourly wages, overtime wages, leaves, etc.
Remote access to payroll is one of the most significant advantages of using cloud payroll software for construction management. Employees and company management get to access payroll data from anywhere. If the employee notices an error, he can quickly report it, and the concerned person can sort it out without wasting time. Having an easily accessible payroll system on the cloud is a big help for construction employees working on site.
A central source of employee data
Any payroll system demands features beyond basic salary calculations. Cloud payroll software lets a company manage and track a centralized employee database. A company can follow all the employee information during his work lifecycle. Employee records like joining date, onboarding, blood group, starting salary, benefits, taxation details, salary revisions, and investment declarations can be stored and accessed via one central source. All the required employee data can be saved at a centralized source and accused as and when needed.
With the world going digital, everyone expects to be notified about the things they want to get. By tracking their attendance, people can easily keep track of unproductive days spent by their workers. The biggest challenge for companies is gathering data and submitting it on time. A well-organized payroll management system can help you optimize the financial aspects and maintain internal control. The payroll module by Linarc allows assigned staff at the company headquarters to configure and manage payrolls. Apart from the core functionalities, Linarc's payroll module offers a unique feature. It is designed as a plugin for your company's current accounting system. The software automatically generates periodic payrolls and distributes them to the designated authorities. This means your business receives accurate and precise employee data ready for payroll processing. With cloud-based systems such as Linarc, companies can speed up processes and create payroll efficiency.