Remove Cash Flow Remove Change Orders Remove Contractors
article thumbnail

Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Process Change Orders Quickly. Automate P2P.

article thumbnail

Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Process Change Orders Quickly. Automate P2P.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Ways to Prepare for New Revenue Recognition Standards

Viewpoint Construction Technology

Contractors today deal with challenging projects, often with multiple performance obligations. When implemented properly, they offer improved cash flow and better accounting insight, which benefits contractors and customers. New revenue recognition standards will require contractors to adjust accounting practices.

article thumbnail

Tips for Creating a Healthy Cash Flow

Best Practices Construction Law

Who couldn't use more cash during the holiday season? No matter the season, however, construction companies rely heavily on cash flow to fund their operations. Cash flow depends on so many variables, but there are a few that you can control. Tie bonuses or other incentives to effective cash flow management.

article thumbnail

Data Analytics Trends in Construction

Viewpoint Construction Technology

Many contractors are practically drowning in data and don’t have the right tools to parse and analyze the data in ways that would have meaningful impacts on their projects. That, however, is changing. We’ve heard our customers discuss it at both our Digital Contractor Roadshows and our Collaborate 2018 user conference this year.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

Data Security in the Cloud » Collaborating on Cash flow. The topic of cash flow never seems to get old – after all, sustained negative cash flow often results in slashing budgets, personnel, and in the worst cases shutting down of a company. Technology for Collaboration & Cash Flow.

Cash Flow 120
article thumbnail

The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

Levelset

Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. And any savings on paper are usually lost mid-way through the project in change orders. Who’s responsible for low-bid procurement?

Bidding 98