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Cost management is an essential discipline that both construction companies and contractors need to master in order to reach maximum profitability. Managing the various expenses associated with a project, including labor, materials, supplies and equipment, is no easy task. Without the proper system and processes in place, construction companies will have a difficult time projecting and achieving per-project profitability. An area where costs can vary widely is in labor, and it’s important to understand the true cost, which often includes insurance expenses, employee classification, etc. To help manage these challenges, many outsource their payroll to achieve better labor cost projections. To help clients, prospects and others, Wilson Lewis has provided a summary of the key benefits of payroll outsourcing below.
Benefits of Outsourcing
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Payroll management and reporting for construction companies can be challenging. The more projects a company is involved with the more complex reporting can become. Beyond the traditional benefits of outsourcing, companies will receive significantly more value from working with an experienced construction payroll provider. If you have questions about payroll reporting or other construction accounting concerns, Wilson Lewis can help. For additional information please contact us at 770-476-1004, or click here to contact us. We look forward to speaking with you soon.
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