Construction Business Owner

JUNE 15, 2016

The processes and metrics that drive accountability to those responsible for its timely collection are rarely in place. The current accelerating growth of the industry since the economic downturn makes cash more important than ever.

Cash Flow 120

Cash Flow Contract Management Accounting 120

Autodesk Construction Cloud

AUGUST 12, 2021

Construction accounting software is a must-have, but may seem daunting to implement new solutions if your accounting technology hasn’t kept up with the complexities of your growing business. No stranger to disruption, the construction industry is experiencing higher levels of digitization than ever before.

Accounting 52

Accounting Software Software FASB 52

Lets Build

DECEMBER 2, 2022

It’s a curious paradox that few industries are as tightly regulated and controlled as the construction sector, yet at the same time, few industries are as vulnerable to unexpected events. Issues may arise around ownership and accountability, roles and responsibilities, tools and materials. A game of risk.

Management 156

Management Construction Risk Cash Flow 156

Viewpoint Construction Technology

APRIL 17, 2018

The new GAAP revenue recognition standards developed by the Financial Accounting Standards Board are here, and these standards are designed with complex projects in mind. When implemented properly, they offer improved cash flow and better accounting insight, which benefits contractors and customers. Identify the Contract.

Accounting 218

Accounting Contract Viewpoint Cash Flow 218

Fieldwire

AUGUST 14, 2023

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The industry’s retainage practices throw another wrinkle into the process.

Contractors 98

Contractors Cash Flow Lien Negotiation 98

Viewpoint Construction Technology

OCTOBER 23, 2018

Construction sites these days have no shortage of data: design and BIM data from the planning stages of a project, jobsite data collected by wearables, mobile devices and sensors on equipment/materials, accounting and job progress data from the office, project management data and much more. Reducing Risk and Increasing Safety.

Construction 240

Construction Software Software Cash Flow 240

Levelset

JULY 25, 2022

The term capital is used across industries to represent all of a company’s financial assets, including cash, inventory, equipment, and more. Several different types of capital — working capital , debt capital , and equity capital — are common in the construction industry. “Cash flow is critical.

Debt 97

Debt Cash Flow Equity Finance 97

Autodesk Construction Cloud

FEBRUARY 25, 2022

For one thing, circumstances can change quickly in today’s uncertain construction industry. For another, work delays from 2021 are likely to impact the risk of subcontractor default in 2022 and beyond. . A higher ratio indicates a stronger cash position. . Accounts Receivable Turnover . Current Ratio .

Safety 94

Safety Debt Liability Equity 94

Viewpoint Construction Technology

FEBRUARY 7, 2019

A Challenging Industry Warrants Sophisticated Tools. Considering contractors face ongoing high pressure to perform and operate with razor-thin profit margins, there’s no doubt: construction is a challenging industry. It seems like Spectrum is on the forefront of construction accounting software.” Howard Dembs, CFO, W.

Contractors 192

Contractors Cash Flow Construction Management 192

Levelset

AUGUST 16, 2022

However, larger projects come with greater risks and additional challenges. Large, multi-year projects are also more likely to face risks from potential economic changes, supply chain issues, and other unforeseen pressures that can threaten them. The construction industry has one of the highest rates of business failure.

Risk 52

Risk Cash Flow Construction Banking 52

Construction Business Owner

APRIL 5, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. Green Construction & Construction Software » The Business of Construction Risk Management. With every project, no matter how big or small, there is always risk – risk of injury, financial responsibility, or quality assurance.

Risk 120

Risk Insurance Construction Software 120

Autodesk Construction Cloud

MAY 5, 2023

Historically, accounting and IT departments have managed enterprise resource planning (ERP) environments and forced project management teams to make these solutions work for operations. ERPs can be configured to meet the needs of accounting teams, and their on-prem deployment allowed IT to control accessibility.

Office 52

Office Autodesk Accounting Project Management 52

Pro Builder

JUNE 6, 2022

Unprepared home builders experiencing rapid growth run the risk of squandering opportunities during the best decade in housing’s history. The result: builders operating in crisis mode and running the risk of stall-out and failure. When you’re out of cash, you’re out of business. b) Allows for cash flow forecasting.

Management 52

Management Cash Flow Profitability Schedule 52

Autodesk Construction Cloud

OCTOBER 28, 2021

Every year, Autodesk University (AU) brings industry knowledge to light, leaving construction professionals from across the globe with a wealth of actionable insights. Jump to industry learning: Great decisions require access to great data. trillion in global construction industry costs in 2020. That includes $88.69

Autodesk 52

Autodesk Industrial Construction BIM 52

Construction Business Owner

DECEMBER 6, 2011

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. In running a business, there must always be a certain amount of risk that you’re willing to take. Risk is healthy; it keeps things fresh and gives you the opportunity to evolve. Or you could take a risk in offering a new product.

Construction 195

Construction Software Software Accounting 195

Pro Builder

APRIL 19, 2021

The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. 5 Reasons to Use Mechanical Contractor Software. Mon, 04/19/2021 - 06:00. The same is true for mechanical contractors. Building Software.

Software 52

Software Software Contractors Change Orders 52

ProcurementExpress.com

NOVEMBER 30, 2016

Do you know if any of your projects are at risk? A huge topic of discussion in the Construction Industry consistently, is the scope of financial risk on a construction project. Why do these financial risks take place. How to reduce your projects risk. An inexperienced project team. Improper planning.

Risk 52

Risk Construction Plans Structural Engineering 52

Autodesk Construction Cloud

SEPTEMBER 1, 2022

The construction industry uses different kinds of agreements depending on the project’s scope, delivery, schedule, budget, and the parties involved. There’s seemingly no risk of losing money on materials. These agreements limit the cost-risk for the customer. It also places the majority of the risks on the contractor.

Contract 98

Contract Maine Construction Agreement 98

Construction Business Owner

MARCH 1, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. « Collaborating on Cash flow. According to my friend Eric Carter, President of Approach Technology , simplistic passwords are the biggest security risks. Your risk will decrease significantly. Tags accounting.

Construction 120

Construction Cash Flow Security Software 120

Lets Build

MAY 20, 2020

at UK BIM Task Force) during the recent Virtual Town Hall , organised by LetsBuild, perfectly describe the situation that the construction industry is currently in. Like every other industry around the world, construction is suffering the unprecedented impact of the Coronavirus outbreak. And I think they will.

Construction 179

Construction Innovation Industrial BIM 179

Autodesk Construction Cloud

FEBRUARY 1, 2022

It’s possible to improve quality control in construction by working towards closeout earlier, focusing on using quality workflows, conducting risk assessments frequently, and standardizing your processes. Conduct frequent risk assessments. There are two quality processes in construction: quality assurance and quality control.

Management 97

Management Construction Risk Documentation 97

Autodesk Construction Cloud

DECEMBER 2, 2021

Tracking costs and monitoring risk while keeping a job on budget can be one of the biggest hurdles to any building project. Tracking costs and monitoring risk while maintaining a budget is one of the most significant hurdles on a building project. Silos increase the risk of errors. Key Takeaways.

Management 52

Management Change Orders Construction Budgeting 52

ProcurementExpress.com

NOVEMBER 30, 2016

Do you know if any of your projects are at risk? A huge topic of discussion in the Construction Industry consistently, is the scope of financial risk on a construction project. Why do these financial risks take place. How to reduce your projects risk. An inexperienced project team. Improper planning.

Risk 40

Risk Construction Plans Structural Engineering 40

Viewpoint Construction Technology

NOVEMBER 5, 2018

With violations often resulting in enormous fines and serious punishments (a case in point is the current ramifications of using polyethylene core-filled panels currently affecting firms in Melbourne), companies are placed in a position where they walk on tiptoes or risk putting their operations in hot water.

Software 130

Software Software Management Construction 130

Construction Cost Estimating

FEBRUARY 21, 2012

Construction Project Management & accounting software plays a vital role for construction companies. Now-a-days industry-specific project management software plays an important role for expanding integrated project management modules to participate with the leading stand-alone project management systems. Video presentation.

Project Management 40

Project Management Software Software Accounting 40

Levelset

SEPTEMBER 7, 2022

Professional liability insurance, also called errors and omissions (E&O) insurance , is a form of risk transfer, meaning that the policy mitigates the risk a contractor faces in their line of work. Some mistakes could lead to bodily injury or property damage—which are both covered by general liability insurance.

Liability 52

Liability Insurance Injury Contract 52

Construction Business Owner

FEBRUARY 2, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. In this article, Schoppman explains how business owners should evaluate construction professionals on specific criteria to enhance margin, improve productivity and hedge construction risks. Tags accounting. accounting software.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JANUARY 12, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. Nowhere is that more true than the construction industry. With the current levels of detail required by industry standards, code compliance and also by the different disciplines, the number of documents required for a project is huge.

Bidding 149

Bidding Construction Documentation Software 149

Construction Business Owner

AUGUST 19, 2011

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. Why Construction-Specific Accounting Software Costs More than Generic Accounting Software » Look for the September How To Issue. Tags accounting. accounting software. Construction Accounting Software.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

FEBRUARY 9, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. A Lesson from the Music Industry. It may not seem obvious as to why business software needs to change with the adoption of new hardware, but if we look at the music industry, the answer is clear. STRATEGY |. MANAGEMENT |. SOFTWARE |.

Software 120

Software Software Construction Accounting 120

Construction Business Owner

APRIL 12, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. « The Business of Construction Risk Management. And, just last week, the United States Green Building Council published a report that estimates from 2009-2013 the green building industry will support 8 million jobs throughout the economy.

Construction 120

Construction Certification Green Software 120

Construction Business Owner

FEBRUARY 23, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. Anyone working in accounting or human resources has access to immense amounts of personal data. For example, banks and other financial institutions put in stronger measures than many other industries. Tags accounting. STRATEGY |.

Security 120

Security Construction Software Software 120

Contractor Bookkeeping

MARCH 25, 2014

Also, a professional producer will be able to introduce you to other professionals and consultants, such as accountants and attorneys who can help grow your business. A contractor uses this information to evaluate its risk/reward exposure. Surety companies have different standards for the preparation of financial statements.

Cash Flow 52

Cash Flow Accounting Profitability Work in Progress 52

Levelset

SEPTEMBER 2, 2022

Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves. However, errors and omissions insurance and professional liability insurance are identical, and the terms are used interchangeably in the construction industry.

Insurance 52

Insurance Liability Claims Construction 52

Construction Business Owner

OCTOBER 10, 2011

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. Apparently, costs shared across jobs were not being accounted for properly. Tags accounting. accounting software. Construction Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

MARCH 29, 2012

ACCOUNTING |. Accounting & Finance. Industry News. Industry Statistics. The Business of Construction Risk Management » The Fundamentals of Building Information Modeling (BIM). Tags accounting. accounting software. Construction Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |.

Construction 120

Construction BIM Software Software 120

Autodesk Construction Cloud

JANUARY 31, 2022

We asked recognized leaders, technologists, and industry strategists from across the globe to share their top trends and predictions for future-proofing a construction business in 2022 and beyond. Sumit Oberoi, Industry Strategy Manager for APAC at Autodesk. APAC construction industry transforming at a rapid pace.

Construction 97

Construction Autodesk BIM Modeling 97