Streamlining Subcontracting, Invoicing, Payment Application, and Certification in the Contracting Industry
In the dynamic world of the contracting industry, efficient management of subcontracting, invoicing, payment application, and certification processes is crucial for ensuring smooth project execution and financial accountability. In this blog post, we'll explore how these aspects are interlinked and their purpose and advantages. Subcontracting and Invoicing: Subcontracting is a common practice in the contracting industry where specialized tasks or services are outsourced to third-party entities or individuals. This could range from construction tasks like plumbing or electrical work to IT services like software development or network installation. Once subcontractors are engaged, the primary contractor must establish clear agreements outlining the scope of work, timelines, deliverables, and payment terms. Subcontractors then issue invoices to the primary contractor upon completion of the agreed-upon tasks or milestones. Managing subcontractors and their invoices requires effective c...