Remove Accounting Remove Industrial Remove Profitability Remove Security
article thumbnail

Monitoring Your Financial Position to Succeed in the Construction Industry

Viewpoint Construction Technology

While many businesspeople swear by hard work and technical proficiency as the key ingredients of success, within the construction industry, there is a broader understanding that success is built on more than just structural expertise and hard work. Sometimes this erodes profit, but in some scenarios, it can mean losses or even worse.

article thumbnail

‘Mature’ talks with clients help McGee minimise risks

Construction Enquirer

“Mature discussions” with clients about material price rises enabled specialist engineering contractor McGee to protect its profits despite rampant inflation. Latest results for the firm for the year to November 30 2022 show pre-tax profits steady at £6.1m from £6m last time despite a dip in turnover to £83.3m for £92.2m.

Risk 77
professionals

Sign Up for our Newsletter

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

article thumbnail

Survey Says: Contractors Committed to Tech, Industry Still Faces Hurdles

Viewpoint Construction Technology

Now in its seventh year, the annual Construction Technology Report compiled by JBKnowledge is one of the most impressive surveys in the industry, providing the latest trends on everything from construction software, IT budgets and workflows, mobile apps, emerging technologies and more. of the survey’s respondents, while just 20.5%

article thumbnail

Learning Opportunities by Role at Viewpoint’s Collaborate 2018 User Conference

Viewpoint Construction Technology

For HR and Accounting Professionals. Learn to maximize the value of Viewpoint software solutions for your role in HR or Accounting with 76 sessions, as well as labs and training opportunities designed specifically for HR and accounting professionals. Register right away to secure your spot!

article thumbnail

Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

For one thing, circumstances can change quickly in today’s uncertain construction industry. Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Accounts Receivable Turnover . A higher ratio indicates a stronger ability to collect on Accounts Receivable. .

Safety 94
article thumbnail

How Inventory Control Saves Construction Teams Resources

Construction Business Owner

It’s the careful balancing of stocking enough inventory to meet your construction company’s needs without unnecessarily tying up cash — is an essential component of keeping your business running profitably and productively. You’ll always have just enough construction supplies and materials.

Inventory 226
article thumbnail

Safety First, Bidding Next: How Safety & Compliance Wins Contracts

Safety Services Company

Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. That’s why firms that leverage contractor management services to manage and maintain their accounts have a leg up on firms that don’t.

Safety 110