How Subcontractors can Untangle the Complexity of Vendor Invoices with Specialized Software

It doesn't take much to lose track of the large volume of Vendor POs and Invoices associated with remote construction projects, especially when the relevant documents and records are spread across multiple sources, such as emails, spreadsheets, cloud storage, accounting systems, and paper records.

Keeping track of these documents and transaction records can quickly become a time-consuming task. Invoices and POs can be misplaced or lost, leading to inaccurate reports, delayed payments and a strain on vendor relationships.

This is especially challenging for Trades and Subcontractors who are typically managing a large volume of shorter term projects.

Benefits of Using Software to Manage Vendor Invoices

This is where leveraging specialized software to track, review and approve vendor invoices can significantly improve the invoice management processes.

Construction management software, such as Fieldclix, can automatically capture vendor invoices, associate them to the original PO record, and route them to the relevant team members for review and approval.

Streamline
Vendor Invoice Approvals

With Fieldclix, you can track invoice status at any time, and receive notifications when invoices require approval or payment. This helps ensure that invoices are processed in a timely manner, reducing the risk of late payments and vendor disputes.

"Before Fieldclix, I was constantly walking the aisles to get project updates, chase down POs, and validate invoices."

Brooke StJohns - SRU Electric

Before adopting Fieldclix, Brooke StJohns, the project coordinator at SRU Electronics, was constantly challenged with getting accurate status on financial transactions and job costs. "I needed a good pair of shoes because I was constantly walking the aisles to get project updates, chase down POs, validate invoices, and then cross-reference everything in QuickBooks to make sure our numbers lined up with the reality on the ground."

Added Benefit: Keeping track of your Job Costs

Vendor services, equipment rentals, and material purchases are all essential components of a project budget. Yet companies often lose the ability to track the amount of external spend associated with a project.

By combining Invoice Management and Job Costing capabilities in one package, software platforms like Fieldclix can establish a project budget and track both internal and external spend to help companies keep a close eye on their target profit margins.

Choosing the best Vendor Invoice Management Software

To maximize the benefits of construction management software for vendor invoice management, it is important to choose a solution that integrates with your existing systems and workflows. This can help ensure seamless adoption and minimal disruption to your business operations.

>>> add construction, job costing combination

Additionally, training and support are key factors in successfully implementing and using software to manage vendor invoices. Look for a solution that offers comprehensive training and ongoing support to help your team get up to speed and fully utilize the software's capabilities.

Improve Efficiency and Reduce Costs with Invoice Management Software

In conclusion, software to track, review, and approve vendor invoices is an essential tool for construction companies with a high volume of vendor purchase orders.

By automating invoice management processes, construction companies can reduce reduce errors, streamline payment processes, and get daily updates on job costs.

If you're looking to improve your invoice management processes, consider implementing construction management software, such as Fieldclix, to streamline your workflows and reduce the burden of manual processes.

Is Fieldclix right for you?