Best accounts payable software for your construction business

By Grace Dela Cruz

With the right accounts payable software, your construction company can streamline its operations and boost efficiency. It enables you to truly be in the “office” while working in the field. As a contractor, you’re most likely always on the go, and sitting in your office trying to manage payments from your various partners may be a tedious, and time consuming task. The solution? An easy to use mobile app that solves all your problems when it comes to sending and receiving payments and organizing your work. 

You'll be able to manage your people and vendors better, improve productivity, save time and get paid faster for jobs you've already done. In this article, we'll show you what an accounts payable software is, how it can truly streamline your construction business—and why you need one!

What is accounts payable software?

Accounts payable software helps you manage the process of making and reconciling your business payments. It can help you reduce costs by saving on transfer fees and improve cash flow by organizing many of the manual tasks involved in accounts payable. Small construction businesses usually organize their payments via excel sheets or filing cabinets, and use slow payment methods like paper checks to pay out their subcontractors and suppliers. This can often lead to long wait times, irritated subcontractors, and slow cash flow. 

If you're running a construction company, then Flume is here to help make managing your business payments a breeze. 

How to streamline your construction business using Flume

Flume is an app and web interface made to make payments easier for small businesses, particularly geared towards project based businesses such as construction, home remodeling, engineering, etc. 

The best part about Flume is that it's easy and intuitive to use. Simply load your various contacts, assign them to your project, upload supporting documents related to your project, and manage all your business payments from there! From your Flume app you can send invoices to your clients and pay your subcontractors and suppliers.  

Worried about getting started? When you sign up to Flume, you have your own support team who will walk you through the entire sign up process and ensure all of your questions are answered. 

Manage your people and vendors better

The best accounts payable software will help you manage your people and vendors better by providing a clear picture of what's going on in the company. You can see who is working on what project, when they are expected to deliver, and how much money you are spending per person, per project. 

This information helps you manage your business cash flow better, and you are now able to easily calculate how much each project is costing you, and what your profit would be per project. Not to mention, with your people and suppliers more organized everyone gets paid on time – which leads to satisfied employees and business partners. 

Improve your productivity and efficiency

Here’s how you can improve productivity and efficiency in your construction business with Flume

Flume is the perfect tool for tracking projects, subcontractors and invoices. The Flume app  allows you to:

• View all of your important information at a glance on one screen using the dashboard view.

• Quickly find what you're looking for with our simplified Projects tabs. Simply click on your project, and find all your contacts, documents, and previous transactions in one place. 

• Not sure who’s getting paid and when? Let’s make it simple! Pay all of your subcontractors on time by viewing your “Payments Due” tab on your dashboard. In a few easy clicks, your subcontractor can get paid via digital check, ach transfer, or Flume's instant pay option.

Send invoices and get paid fast

Send out professional-looking invoices with our easy to use invoice template. Simply choose the contact you’d like to invoice, the project you are invoicing for, any project notes, and the payment due date.  In under one minute, your invoice will automatically be generated and will be sent straight to your clients inbox. With our payment tracking, you'll be able to keep track of each invoice as it moves through the payment process--and if there are any hiccups on the way to getting paid, you’ll know right away so that you can send a follow up email.

Track your accounts payable and receivable

Accounts payable and receivable are two sides of the same coin. If you're not tracking both, it can be difficult to manage your business cash flow effectively.

Flume allows you to track all of your transactions for different projects in one place, so that everything from invoices to payments are organized and easy for everyone involved--including yourself! It’s hard enough managing your construction business transactions, but managing each project and its different transactions can be very time consuming and take away time from working on your business and focusing on serving your clients. Being able to organize your projects individually, as well as the different payments for each project all in one app allows you to take this extra time and put it back into growing your business. 

Accounts payable software can help improve efficiency in your construction business

An accounts payable software can help you streamline your construction business and improve efficiency. You can use it to manage people and vendors more effectively, which will result in better productivity and faster payments. Flume allows you to send invoices, get paid faster and track accounts payable and receivable all in one place.

Conclusion

If you're looking for a way to streamline your accounts payable process and improve efficiency, then Flume is the right choice for you. Our app can help your construction business save time and money, while also improving productivity and efficiency. With Flume, all of your invoices are easy to track so you'll always know when they're due back from clients or vendors; this means less time spent chasing payments while also improving cash flow in general. Book a demo call with us and try us out for free!