Challenges When Using an In-House or Manual Process for Your Notices
When you own a construction company, you have two choices when it comes to servinf lien and payment notices. You can choose to complete the process in-house or manually, or you can outsource the work. They're very different options, though, so it's important to understand how they compare.
The notice process is very technical, and regulations differ from state to state. Outsourcing the notice process can be incredibly beneficial for your company.
While it’s possible to complete these tasks in-house or manually, it can be difficult. These are the most important things to consider if you’re thinking about taking care of your notice process manually.
How Big Is Your Company?
This is a very important factor when it comes to your notices and invoice process. There is a considerable amount of research that goes into
serving regulatory notices. If you have a small to mid-sized company, completing the task in-house could be quite difficult.
It would require a large amount of multi-tasking for a regular employee to take care of notices and their job as well. If this work falls on a full-time employee, consider the amount of time that will be taken away from their normal job description.
Most construction companies are small to medium-sized. If your company is a huge commercial outfit, it may be possible to complete all the work for your notices in-house. It literally takes a staff dedicated solely to notices, liens, and invoicing for the process to be completed efficiently.
Consider How Cost-Efficient Outsourcing Is
Although you do pay a certain amount upfront to outsource the completion of notices and liens, consider how your bottom line could be affected if
it’s not done properly. All it takes is one minor mistake on the paperwork or notice to be filed incorrectly to severely affect your bottom line..
The cost of outsourcing your liens and notices is minimal when compared to what could happen if the process isn’t completed properly. You could stand to lose the payment of an entire project and the ability for the lien to stand up in court if one mistake is made.
Are You Knowledgeable Enough for In-House?
When you choose to complete the notice and lien process manually, it could be difficult to complete it properly. Even with a substantial amount of studying,
finishing the process can be extremely difficult because of the technical details.
If you choose to outsource instead, you know you’re receiving the services of a knowledgeable expert in the field of notices and liens. You are guaranteed that the proper paperwork is filed, and no hiccups will take place.
When you are a company owner, it’s important to save money whenever you can. However, some things are better outsourced and should be considered a wise investment.
Outsourcing your notices and liens is one of those tasks. It’s important to save money, but it’s also important to make smart decisions regarding the security and credit of your company. Nationwide Notice specializes in lien laws and related documents. We assist construction companies in securing payments. Our goal is to help subcontractors and contractors alike to secure their lien rights while getting the money they deserve, on their terms. To check out all the services that Nationwide Notice provides, click here - and find our contact page here to learn how to get in touch with us.
here - and find our contact page here to learn how to get in touch with us.