Business

Benefits of a cloud-based payroll solution for construction

Today’s construction companies are turning toward the quickly evolving field of emerging technologies. Beyond turning toward construction management software to improve cost estimation, strengthen project coordination and increase collaboration throughout entire project, construction companies are also shifting labor-intensive jobs into digitally centered roles.

Improving construction efficiency, however, isn’t restricted to the field. Rather, HR and payroll processes must be part of the workflows re-evaluated within a company’s digitization. In fact, cloud-based payroll is ideal for construction businesses because they directly address the challenges from tracking workers’ on-site attendance, managing shifts and varying unions, and maintaining timesheets.

It’s no surprise that construction companies are turning toward cloud computing. In 2012 only 15% of contractors considered cloud computing important for their company. By 2017, however, 85% of construction contractors said they were using or planning to use cloud-based solutions.

Recently, we shared that ninety-five percent of all workloads will be in the cloud within the next five years and that 56% of companies are redesigning their HR programs to leverage digital and mobile tools. As companies shift to adopt to emerging technologies, cloud-based payroll solutions are becoming an easy choice for all companies, including those in the construction industry.

Here are six benefits of cloud-based payroll for construction:

  • Supports remote work and access: In an industry that is not limited to one building or project site, cloud-based construction payroll solutions support remote access. Companies must think outside of the box to address the labor scarcity and providing HR and payroll solutions that support remote work give companies a competitive edge to recruiting skilled workers. Beyond the employee perk of remote work, cloud-based construction payroll also provides easy and secure access to a central source of employee data. Project managers and managers handling salaries can access one centralized system that easily tracks, reports and analyzes employees’ time from any location and any device.
  • Enhances security among payroll: The average large organization gets 17,000 security alerts each week, which results in an of average 99 days to discover security breaches. When handling sensitive and personal employee information, companies need to ensure best security practices. That means developing proper environments, workflows and storage to properly protect and safeguard employee data. Cloud-based payroll solutions for construction must be built on a highly secure cloud foundation. Platforms like Azure, provided by Microsoft, offer built-in security controls to help you quickly configure security across the full-stack, and unique intelligence at cloud scale to help you safeguard data and respond to threats in real-time. You also get the added benefit from a team of 3,500 dedicated cybersecurity professionals working together across the Cyber Defense Operations Center to help protect, detect and respond to threats in real time.
  • Faster and more improved technology: Instead of managing construction payroll outside of payroll systems using Excel, cloud-based payroll systems that are designed for construction use one technology to process pay. That means quicker and more efficient payroll processes. But beyond have faster and more reliable access to vital payroll information, cloud-based technology makes upgrading technology surprisingly straightforward. Your professionals constantly run payroll on the latest operating system through the ability to detect when updates are available and schedule updates based on the users’ schedules. Payroll and technology upgrades can even save companies’ money in the long term by removing the costs of inefficiency and downtime.
  • Integrates with online time tracking tools: In the construction industry, wages are based on hours worked. But sometimes, getting accurate pay sheets across multiple project sites and based on workers’ attendance and time can take time and is often delayed. With cloud-based payroll for construction, construction businesses can integrate their systems with a cloud based time capture software that tracks and processes contractors’ attendance and time worked in real time. Linking time tracking tools with your payroll provides more accurate time records and pay based on the contractor’s tasks and reduces delays from gathering timesheets in the field. HR & payroll professionals can get instant access to time worked in the field and project managers can efficiently schedule and cost contractors’ time on projects.
  • Builds a positive employee experience: Integrated HR & payroll systems is critical to providing a great employee experience. First and foremost, employees don’t want delays in pay and want an accurate paycheck. If a contractor is completing a project, it shouldn’t take days for the office to verify the time worked in the field. But, using cloud-based payroll solutions also improve a company’s culture among HR and finance teams. Running payroll and finances on multiple, siloed systems also generates unnecessary administrative tasks, wasted hours, redundant work and likely errors from double or manual data entry. Implementing a user-friendly payroll solution, though, automates workflows to enable information to flow smoothly between departments. This leads to happy HR and finance teams, which has a direct impact on making sure contractors are paid properly, accurately and timely.
  • Flexibility: Let’s face it —construction work is subject to unpredictable external factors. Weather may cancel a day’s work and delayed materials or broken equipment may cause contractors to alter their schedules. Cloud solutions support the industry by providing the opportunity to quickly adjust schedule for maximum efficiency, and reduce costs that stem from delays. Cloud-based construction payrolls designed for the construction industry also add flexibility to easily manage trades, union and certified payroll. With flexible integrations and customizations that allow you to add and define new fields and codes on the fly, cloud-based construction payroll solutions remove some of the complexity involved in project operations in the construction industry.

How we can help

CEM Business Solutions offers a wide portfolio of cloud-based payroll solutions built for construction. With decades of knowledge in construction, we also offer cloud-based payroll software that improves operational efficiency for construction management at affordable rates.  Get the most of your salary processes with a cloud-based software today.