How to Streamline Your Cash Flow Management
Maintaining a healthy cash flow can be a daunting task for construction companies. Long project timelines, delayed payments, and substantial upfront costs make it challenging to manage cash flow successfully. And poor cash flow management often leads to delayed projects, strained relationships with vendors and suppliers, and in the more extreme situations project shut down. Fortunately, your construction company doesn’t have to manage your cash flow alone. Outpave’s sophisticated finance management platform can help by providing real-time insights, automating payment processes, and quickly generating invoices.
Real-Time Expense Tracking
The first step in good cash flow management is understanding where the money is going. That’s why Outpave’s software provides you with real-time data on how the project budget is being spent. Every card comes with a 1% cash-back reward for every purchase.
Benefits of Outpave Expense Cards
- Employee Cards: You can issue Outpave expense cards for contractors and general managers. Any expenses on these cards will appear in the Outpave dashboard within a few minutes.
- Receipt Tracking: When the contractor uses the expense card, they can scan the receipt directly into the Outpave app, eliminating the need to keep track of paper receipts.
- Spending Control: With Outpave, you control where and how much your employees spend. You can set daily limits, block or approve vendors, and even limit what employees can purchase with the cards.
Automated Payment Scheduling & Invoicing
Delayed payments can slow down the progress of a construction project, which may increase the overall cost of the project. With Outpave’s software, you can monitor, track, and schedule payments to keep things moving forward.
Using Outpave to Manage Payment & Invoices
- Schedule Payments: The Outpave system allows you to schedule payments, and even differentiate between recurring payments and one-time expenditures.
- Generate Invoices: Creating invoices can be a time-consuming process, that requires careful attention to detail. With Outpave, you can generate professional invoices with just a few clicks of the mouse.
Get Started Today
Maintaining your cash flow requires precise data. Unfortunately, manual data entry and control are prone to errors and missing information. With Outpave’s platform, the need for manual data management is significantly reduced, improving the cash flow and profitability of your construction projects. Contact us today to get started.
