Tired of getting polite (or not-so-polite) vendor emails about past-due payments? Vendor drama is real, but your contracting business doesn’t have to play a chaotic leading role.

 

Common Vendor Pitfalls

  • Payment Delays: No construction budget likes a stuck payment
  • Unforeseen Costs: Change orders, new prices, and miscommunications add up
  • Supply Chain Snafus: Back orders, diesel shortages, shipping delays…

 

Game-Changing Solutions

1. Prioritize Invoices
 Not every bill’s due date is malleable. Prioritize vendor payments based on criticality and business impact.

2. Communicate Often
 Keeping vendors informed before issues arise can buy goodwill or short-term payment extensions.

3. Streamline Orders
 Use procurement software to track orders, supplier notifications, and approval workflows.

4. Have a Backup Plan
 Identify secondary suppliers for crucial materials and keep them in the loop about potential switches.

 

Your Next Course of Action

Thriving in construction means navigating supply bumps without crashes—SkillBench helps manage vendor payments seamlessly, letting you focus where the drama ought to be: your timelines and sites.