Construction companies continuously struggle with labor shortages, rising inflation costs, and supply chain disruptions. But now you can help offset a significant obstacle within this industry–waiting for your customer to pay on an invoice.
Owning a construction business, you probably are already aware that sometimes it can take weeks or even months to receive payment on projects. This can make it challenging to keep up with production or invest in new growth opportunities.
However, there is a solution.
CollectEarly™ offers a way to get paid on your invoices immediately, so you can keep your business moving forward. With more liquid capital, you can easily adjust to new project demands and comfortably pursue new customers. CollectEarly™ is an essential tool for any business owner.
CollectEarly™
There is no need to wait to get paid. CollectEarly™ offers a solution to business cash flow problems by allowing owners to collect payment on their invoices ahead of time. This means construction companies can keep projects moving forward without waiting for payments, which makes CollectEarly™ a valuable tool for companies of all sizes.
Construction Expenses
Construction companies often have to juggle a lot of balls when it comes to managing cash flow. They have to pay for materials and labor while also dealing with the often-lengthy timeline of waiting for client payments. This can result in construction projects grinding to a halt due to a lack of funds, which can be frustrating for the workers, the company, and the client.
CollectEarly™ counteracts this problem by allowing owners to collect payment on their invoices on the same day. This means construction companies can keep projects moving forward without waiting for net 30 payments, which makes CollectEarly™ an essential tool for any construction company that wants to keep its projects on track.
Technology & Growth
The construction industry has long been known for needing to be faster to adopt new technologies. Although construction is highly technical, business owners have hesitated to invest in new tech that will eventually be cost-effective.
There are several reasons for this reluctance, which are listed below.
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- First, construction is a high-risk business: any mistake can be costly, so business owners are understandably hesitant to embrace new technologies.
- The construction industry is fragmented, with many small businesses competing for work. This fragmentation makes it difficult for companies to justify the expense of investing in new tech.
- Third, the construction industry needs to be faster to professionalize, making it harder for companies to attract and retain talented employees who are comfortable working with new construction technologies.
- The final reason is where CollectEarly™ can really make a difference and this is in the lack of consistent cash flow.
You can’t afford to wait to invest in the latest tech that will save you money in the long run. So the more options you have, the better you will be able to be proactive with your capital.
Final Thoughts
As you are already aware, waiting for customers to pay their invoices can strain your resources, especially in the construction industry, where the labor demand is typically high. CollectEarly™ is the perfect tool to collect payments quickly and efficiently. Whether you’re looking for a simple way to collect payments immediately or need a more robust system for tracking invoices, FINSYNC has you covered. Stop waiting for customers to pay their invoices and start collecting early today.
Learn more about CollectEarly™ and start getting paid on your invoices in 4 hours versus 4 weeks.