Payroll is one of the most important aspects within the construction industry and as such it needs to be managed effectively. In construction, payroll can be a complex process especially with the size of construction projects, tax regulations and having a large workforce working on different projects.
If you find payroll to be time-consuming and stressful then it might be time to invest in construction payroll software to streamline your processes and ensure you stay compliant with tax regulations.
There are many advantages to using construction payroll software, instead of processing payroll manually. Here are 5 reasons to invest in payroll software for the construction industry:
When deciding whether to invest in payroll software, you may be worried that it will be too generic for your construction business’ needs. Whilst it’s important to check the features available before you invest in a payroll software, it is likely that a construction-specific software will include the features you need to process payroll effectively and efficiently.
Our construction payroll software, Evolution Mx, has a number of features suited to the construction industry. This includes the option to have multiple groups or frequencies if you want to pay groups of employees at different times or in different intervals. It also allows you to assign payments to particular contracts, allowing you to get a more accurate view of your job costs.
2. Money Saving Benefits
When it comes to managing payroll, there can sometimes be hidden costs you may not account for. A good example of this is the postage costs of sending payslips to your employees. When you factor in time, materials, and postage costs it is estimated that sending one payslip can cost over £1 and depending on how many you send out this can become a very real hidden cost.
As part of our construction payroll software, we offer the option to securely email payslips to your employees. This can help you save time and money when it comes to postage but can also provide a digital stamp, showing exactly when the payslip was sent.
3. Mobile Technology
In the construction industry, you’ll have employees working on-site and not necessarily visiting the office. By investing in mobile technology, you can better communicate with these employees and speed up your payroll processes.
As part of our construction payroll software, we offer a Timesheets module, which allows your employees to enter their hours worked from wherever they are from a mobile device, provided they have an internet connection. This can save time when it comes to processing payroll and because these mobile timesheets go through an approval workflow before they go into payroll you can still keep in control of your employee’s working hours.
Other aspects of payroll that can be handled remotely include paid leave, overtime, and expenses.
4. HMRC (UK) and ROS (ROI) Compliance
Construction payroll software can help you keep on top of any legal requirements to ensure your construction company stays compliant and to avoid any fines or payroll issues in the future.
Our software, Evolution Mx, offers full workplace pensions and auto enrolment compliance for UK companies. For our Irish customers, it also offers PAYE Modernisation. This payroll software also keeps track of changes to these regulations and will update as they occur.
5. Cloud Hosting
By using a construction payroll software that can be cloud hosted, you have the advantage of being able to access your data from anywhere in the world with an internet connection. This allows you to be able to process payroll at any time, even if your payroll clerk is working from home for example.
Cloud hosting also allows for easier scalability, perfect for a growing business.
By choosing to invest in construction payroll software, you can save-time, save-money and keep up to date on regulations.
If you would like to find out more about our construction-specific software, Evolution Mx, then please feel free to book a demo today, where we can show you the payroll functionality in more detail.