Guest Contributor: SkillSmart
As the economy emerges from the pandemic, focus has shifted to both infrastructure funding and restarting delayed projects. At the same time, there’s also a growing interest in demonstrating the economic impact of these projects on local and regional communities.
As a result, numerous projects — no matter their size or funding source — now require all subcontractors to report workforce and spend-tracking data, resulting in more work being pushed to the subcontractors. These extra responsibilities present additional challenges since many lower-tiered subs often don’t have the resources to complete these requests. Luckily, with compliance tracking software, subcontractors can ease some of these new burdens.
More Complete Data with Compliance Tracking Software
In the past, reporting requirements by federal, state and local governments — as well as for prevailing wage or Davis-Bacon projects — generally meant an increase in the number of staff needed to account and report data. Today, technology can help existing staff complete these extra tasks by simplifying processes and increasing the availability of data.
Some software applications, for example, now allow subcontractors to report on all their workforce and business-tracking data in a single, efficient system. By using a shared environment, all subcontractors across the project can provide accurate, up-to-date data using fewer people and resources — offering the added benefit of better, more accurate reports.
Currently, GC’s like Barton Malow, Clark, Gilbane and Mortenson have projects underway using similar technology to improve their outcomes. By allowing all subcontractors and their subs to enter their reporting data in one place, these GC’s have seen improved reporting, with fewer errors and fewer calls to subcontractors asking for corrections on the day reports are due. These efficiencies have resulted in subcontractors being able to spend more time on why they were hired — their scope of work.
Integrations: Less Work, Better Outcomes, Real Results
Integrations between two or more software applications help to further streamline compliance tracking. With integrations, users can more easily create reports by exporting payroll data from their accounting platform and uploading it directly into their compliance tracking software. Even a simple export/import like this helps to reduces the errors and inefficiencies that come with moving data between multiple software platforms.
Once payroll data is uploaded, subcontractors can use compliance tracking software to:
- Access data in real-time
- Receive non-compliant wage notification
- Generate and e-sign project specific WH-347 from payroll records
Through integrations, subcontractors are able to both save time on importing payroll data needed for reporting while also reducing errors associated with manual or repetitive entries.
Tracking Business Compliance Data
In addition to providing easier tools for importing and tracking workforce data, compliance tracking software can also allow subcontractors to track business compliance data. This more comprehensive approach to data collection and tracking allows for a simpler process to be undertaken by all subcontractors, providing a broader analysis of a project’s overall economic impact in a community and greater transparency for all project participants and stakeholders.
While subcontractors currently face more reporting requirements than in the past, compliance tracking software can help save time generating necessary reports — ultimately saving their business money and resources.
SkillSmart is a construction compliance, reporting and tracking technology company with a strong record of transforming communities by creating tools and services to build strong markets and clear paths to economic success.
To learn more about how FOUNDATION and SkillSmart integrate with their import template or how Insight simplifies compliance and workforce tracking, visit https://www.skillsmart.us/skillsmart-insight.