Volopay: All-in-one construction expense management platform
When expense tracking can’t catch up with actual spending, construction projects fail. Your project budget faces risk, and profitability erodes with every day that lacks real-time visibility into equipment rentals, labor expenses, and material costs. Volopay's construction expense management platform delivers complete financial control to construction companies and real estate developers throughout all project phases, from final inspections all the way to initial site preparation.
Eliminate spreadsheet chaos and payment delays with one unified system tracking equipment rentals, subcontractor payments, daily labor wages, and raw material procurement. Gain the financial control required to complete projects on budget and on time while improving cash flow across every job site, whether it’s managing a single residential build or overseeing multiple commercial developments.
Real time construction project expense tracking
Real-time construction expense management software from Volopay centralizes all project-related expenses in one dashboard. Expenses tagged by project, cost center, or development phase help understand exactly where money flows.
Every construction expense consolidates into a live dashboard through Volopay, where finance teams, site supervisors, and project managers access the latest spending data without any delays to month-end reconciliation or weekly reports.
Expenses such as operational costs, equipment, subcontractors, labor, and raw materials are tracked as they happen. Early identification of overspending helps project managers with the help of real-time alerts, and corrective action occurs before profitability is impacted.
Manage raw material procurement & payments
Volopay’s construction expense management software simplifies processes by connecting procurement requests, approvals, and vendor payments into one workflow. The dashboard catches cost overruns before they compound, which happens through real-time material cost tracking against project budgets.
Based on supplier or value, predefined approval rules are applied to material orders. Vendor payments are processed on time (once approved) through automated bank transfers.
Integration of your existing supplier database means no duplicate data entry, while automated three-way matching between purchase orders, delivery receipts, and invoices eliminates payment errors, preventing any damage to vendor relationships.
Control labor costs & daily wage payments
Labor expenses are time-sensitive and frequent, and often difficult to track manually across sites. Volopay transforms workforce expense management by connecting payment processing with timely tracking, all in one system.
Labor costs are tracked by project, trade, and time period, identifying productivity trends and optimizing crew allocation across multiple job sites without paper records or delayed reports. Wages are approved before payment release through multi-level approval workflows.
Prompt payments reach daily wage workers through direct deposit, improving worker satisfaction and reducing administrative overhead.
Streamline trade and subcontractor payments
Different timelines and milestones for multiple subcontractors and trade partners create common dependencies in construction projects. Volopay transforms subcontractor payment management through retention tracking that ensures contract term compliance, milestone-based payment schedules, and automated invoice processing.
Against agreed milestones, invoices can be reviewed and approved through structured workflows. Subcontractors are paid through automated payments, on time and accurately. Paper invoices and email chains are replaced by digital approval workflows, accelerating payment cycles while financial controls are still maintained.
Track equipment rentals and purchase expenses
Volopay’s real estate construction expense tracking gives visibility into equipment-related spending across job sites.
Spending limits that prevent unauthorized upgrades or extended rentals without approval can be managed with virtual cards. You can create and assign cards to specific equipment categories, making granular tracking easier.
Understanding the total cost of ownership and making informed decisions about the optimal mix of rental versus purchase strategies happens when your project managers are able to track maintenance expenses, fuel costs, and transportation charges associated with owned equipment.
Corporate cards for project and site teams
Volopay's corporate card system maintains the financial controls necessary to prevent budget overruns and unauthorized purchases while empowering site managers and project teams with spending flexibility.
Without slowing operations, set spending limits according to role, project, or category to maintain control. Instant visibility into on-site spending improves accountability across construction projects for finance teams.
With automatic project assignment, complete merchant details, and real-time transaction visibility, property development expense management is streamlined. Manual receipt sorting and storage is eliminated, and manual expense reports can be avoided while enabling accurate project accounting.
Construction accounting software integration
Construction accounting software integrates with Volopay to automatically sync approved expenses and payments. As Volopay automatically categorizes expenses by project, cost code, and phase, real estate project expense tracking is simplified, enabling accurate job costing, compliant reporting, and seamless client billing.
Duplicate data entry is eliminated, and the month-end reconciliation effort is reduced. Finance teams gain reliable and consistent financial data across projects, supporting more accurate reporting and faster closes. Existing accounting workflows align with construction expense management through seamless integration.
Visibility into project profitability & cash flow
Actionable intelligence about construction performance comes from raw transaction data through Volopay's reporting capabilities. Real-time profitability tracking happens for construction companies as Volopay centralizes expense data across projects.
Understand cash outflows across sites, monitor payment schedules, and compare actual expenses against budgets. Customizable dashboards provide project managers with detailed cost breakdowns for their specific jobs while giving executives high-level portfolio views.
Track cash flow across all active projects to avoid costly short-term financing, ensure you have adequate working capital for upcoming expenses, and optimize payment timing to suppliers and subcontractors.
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FAQs
Volopay consolidates all construction expenses into project-specific tracking systems that provide real-time visibility into material costs, labor expenses, equipment rentals, and subcontractor payments. Each project maintains separate budgets and expense records while rolling up to portfolio-level reporting.
Yes, Volopay handles all payment types in construction projects, from recurring material vendor payments to daily labor wages and milestone-based subcontractor disbursements. The platform automates payment processing while maintaining detailed records tied to specific projects and cost categories.
Subcontractor invoices are processed through automated workflows that match them against contracts and completion milestones. Payments are released based on verified work completion, with retention amounts tracked and released according to contract terms.
Volopay provides project-specific expense tracking that isolates costs for each construction project while enabling portfolio-level visibility. Expenses are tagged to specific projects automatically, ensuring accurate job costing and profitability analysis.
Equipment rental expenses are tracked by project and equipment type, with alerts for upcoming rental period end dates. The system identifies underutilized equipment costs, prevents duplicate rentals, and allocates shared equipment costs appropriately across multiple projects.
Site managers receive corporate cards with customized spending limits and merchant restrictions that enable immediate purchases while preventing unauthorized spending. Physical cards work for on-site purchases while virtual cards handle online orders and subscriptions.
Volopay provides real-time cash flow visibility across all active projects, forecasts upcoming payment obligations, and optimizes payment timing to maintain adequate working capital. This visibility helps avoid expensive short-term financing and ensures funds are available when needed.
Volopay generates detailed reports on spending by project, cost category, phase, and time period. Profitability reports compare actual costs against budgets and revenues, helping identify margin opportunities and operational improvements.
Implementation timelines vary based on the number of active projects and integration requirements, but most construction companies complete basic setup within a week. Complex multi-project portfolios requiring extensive integration may need additional configuration time.