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Utilizing The Power Of Financial Modeling In The Construction Industry

Contractor Bookkeeping

In the ever-evolving world of construction, financial modeling is a game-changer. Crafting precise and insightful financial models is a valuable tool for construction companies. Financial models are invaluable tools designed to help you understand and protect your business's economic health.

Modeling 109
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How To Protect Your Construction Company From Bankruptcy

Contractor Bookkeeping

Poor cash flow Not bringing enough money in is the main reason why businesses fail. There might also be different service models you can offer (such as subscription services) or ways to branch out your income. The earlier you catch a cash flow problem, the better.

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

Levelset

Low Bidding Impacts Contractor Cash Flow. That disrupts your project’s, and your organization’s, cash flow. Cash flow shortages impact performance. Learn more: 12 tips to manage cash flow on construction projects. How improving cash flow improves project performance.

Bidding 98
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Bigger, Better Jobs: Tips for Getting the Jobs That Help Grow Your Business

Levelset

Delayed payment is felt by nearly 90% of contractors, according to Levelset’s 2021 Construction Cash Flow & Payment Report. While most specialty contractors aim to take on jobs with higher profit margins, buying materials upfront can drain the available cash needed to make this happen. Bid bigger.

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5 Critical Construction Project Reports your System Should Pull Without Fuss

Viewpoint Construction Technology

You’ll also need a general ledger model that supports inter-company transactions and hierarchical reporting across business units and entities. Forecasting and Cash Flow Reports. revenue, risk and cash flow forecasting) and enable you to assess historical project performance.

Cash Flow 130
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9 Tips for Starting an Architecture Firm

Levelset

Pay close attention to cash flow. Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. Architectural firms need to monitor the cash coming in and going out of the business to ensure they have enough on hand to cover critical expenses.

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Data Analytics Trends in Construction

Viewpoint Construction Technology

And true data analytics is more than just tracking traditional job costs and cash flow. You want data to help you make smarter decisions based on models of what will happen in the future. Your data can help you develop these models. Ideally, you won’t only assess what happened on a project after the fact.