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How Construction Companies Can Boost CashFlow and Profitability. When the expense management process runs smoothly, your crew can keep jobs running, the accounting team can bill customers promptly and close the books on time, and your management team has the right data to manage budgets and bid future jobs. Greg Ragsdale.
The trends of the last quarter are continuing – decreasing profit margins, more bidders on every job, and at times companies bidding what appears to be downright foolishly. We have smaller projects going with Martel in Montana and Arita Poulson in Hawaii.
In the last few years, we’ve seen more bidding activity on fewer jobs, indicating an increase in competition for construction projects. . To win more work, firms must be able to quickly deliver competitive bids that stand out. . CashFlow Issues. Not getting paid on time puts many SMBs in a cash crunch.
Many commercial property owners have been putting off sealing parking lots, painting, renovating and other general maintenance projects due to the lack of cashflow. When The Economy Is Expanding - Demand for construction rapidly and almost overnight outstrips supply because so many contractors gave up and left the industry.
The ripple effect, like throwing a stone in a pool of water impacts the area around it, caused massive cash-flow headaches. Also any jobs that are Fixed Bid that appear in the "Billing Status" will need to be opened and fixed otherwise this report will become cluttered and useless. Click Here For More.
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