Accepting Digital Payment Is Crucial for General Contractors. Here’s Why.

January 13, 2020

Accepting Digital Payment Is Crucial for General Contractors. Here’s Why.

Businesses and customers today are trending away from a whole host of traditional payment methods. Now is a more critical time than ever for business owners — including general contractors — to adapt to those trends, so often influenced by new technology. Accepting digital payments is one of them.

Here’s the thing: it doesn’t have to be complicated. When you’re working with apps like Punch List, for example, it’s straightforward. Punch List is made specifically for general contractors looking to give their business the professional, digital boost it deserves .

Speed

It’s been generally accepted of the general contract industry: payment comes on delay. Homeowners need time to inspect your work and confirm it’s been done to their liking, and polish work could extend your payday wait even further. On top of that, coordinating payment with a homeowner can add weeks or even months to your payday countdown. But it no longer has to be that way.

Digital payments cut down the delay almost entirely. If you’re using Punch List, for example, the app will generate automatic, digital invoices for approved work — which homeowners can pay instantaneously, all in-app.

Accessibility

It’s officially the 2020s; you’ll no doubt find yourself connecting with a growing millennial homeowner base through the course of this decade. It’ll be important to keep one eye on generational preferences, and it’s no secret that millennials have fueled the push away from cash and check.

Accepting digital payments makes your business accessible to homeowners across the generational spectrum. It’s a way to ensure you’re seeing eye to eye, whether your client feels most comfortable writing a physical check or wants things to be as easy as swiping right on a bank transfer within an app like Punch List.

You don’t have to rule out traditional payment methods; think of digital payment technology as another tool in your tool belt.

Ease

Digital payments greatly simplify the payment process — in some cases, it’s as easy as pressing a button. And while it might seem more sophisticated than cash or check, setting yourself up is very straightforward.

Punch List is an exceptional option for general contractors. Its user-friendly interface was designed with your business (and your clients) in mind. Reducing any friction involved with payday through Punch List is as simple as signing up.

Security

Payment forms aren’t mutually exclusive. Just because you’re considering making digital payment a part of your general contracting business doesn’t mean you’ve got to phase out other forms. That said, there are definitely benefits to operating primarily digitally when it comes to payment, and security is one of them.

Digitally produced invoices have a way of avoiding wrinkles, tears, coffee stains — you know, the chorus of damage that might get done to a paper invoice on a worksite. That, inevitably, will make it easier to track your expense and revenue (especially helpful come tax season).

They’re also ensured in the way that checks, for example, aren’t — a digital payment can’t bounce. With an app like Punch List, funds could be in your bank account in just a few days.

What are you waiting for?

As a general contractor, accepting digital payments is one more way you can ensure the growth and success of your business. You’ll cut back on payment delay, cater to a greater group of homeowners, and take steps to safeguard important information, all with the push of a button. Just hit ‘download’ once you’ve located Punch List in the app store.

There are a range of digital payment methods, but Punch List makes digital payments look easy as part of its professional, easy-to-use technology. Simply create an account, upload project plans and break down your plan from demolition to installation. Enter budget, timeline, and notes; in-app messaging allows you to connect instantly with homeowners so you can send pictures of completed work for approval, ensuring real time communication throughout the project.

Once the homeowner approves your work, the app will generate automatic, digital invoices, to be paid in-app. And there you have it — you’re now accepting digital payments. In this case, it’s as simple as Punch List.