Construction firms need to explore the option of using e-zwich to pay their workers to avoid carrying cash to sites for payment, Archie Hesse Chief Executive of Ghana Interbank Payment and Settlement Systems, (GhIPSS) has said.
The move he said would reduce the time and cost incurred in paying them, particularly when they were located at different project sites.
In an interview with a section of the media, Mr. Hesse said construction companies were usually confronted with the challenge of paying many workers, who work from different project sites, sometimes in different parts of the country.
This usually he said resulted in time wasting, high cost of processing such payments, adding that sometimes physical cash has to be moved to project site to pay salaries resulting in delays in payment.
Mr. Hesse, said such difficulties could be resolved by paying the workers through the e-zwich, using the Payment Distribution System (PDS).
He explained that the PDS, would enable construction companies to cut waste and enhance efficiency in payments.
“With this payment system, thousands of workers at different locations can be paid within a matter of hours and their money will hit their e-zwich card regardless of their geographical location,” he said.
Mr. Hesse said the system had helped a number of companies with staff scattered round the country as well as those who are remunerated based on commission, to cut back on the inefficiencies in paying emoluments.
He stressed that the option of carrying physical cash to pay workers, was not an option to entertain in these modern times when there are better, safer and quicker ways of doing it.
He also noted that spending long hours sorting cheques received or cheques to be paid out to a large number of people takes away crucial man-hours that could be used profitably in planning the next big project.
“Technology has come to stay and it is cheap no matter the way you look at it; so if you fail to apply it then your profits will continue to be wiped away by old and inefficient methods of operation” he advised.
By Times Reporter