article thumbnail

The most important construction KPIs to improve profits and productivity

Lets Build

If they all revolve around your financials, you might be shrinking your own profit margins. Your construction KPIs should do more than measure a project’s health—they should show you where profit and productivity are dropping, why they’re dropping, and how to fix the issue. What mistakes were made on the less profitable jobs?

article thumbnail

The most important construction KPIs to improve profits and productivity

Lets Build

If they all revolve around your financials, you might be shrinking your own profit margins. Your construction KPIs should do more than measure a project’s health—they should show you where profit and productivity are dropping, why they’re dropping, and how to fix the issue. What mistakes were made on the less profitable jobs?

professionals

Sign Up for our Newsletter

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

article thumbnail

7 Things Contractors Need to Know About Retainage

Fieldwire

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. Retainage can cause a cash flow burden for contractors, especially subs at the bottom of the payment chain.

article thumbnail

Business Intelligence for Construction is On the Rise & It’s Obvious Why Contractors are Loving It

Viewpoint Construction Technology

Considering contractors face ongoing high pressure to perform and operate with razor-thin profit margins, there’s no doubt: construction is a challenging industry. I definitely think contractors who are not thinking about moving to the cloud are at a disadvantage. Howard Dembs, CFO, W. Soule and Co. Click to learn more.

article thumbnail

Serious And Funny Construction Definitions Contractors Enjoy Reading

Contractor Bookkeeping

Assets of Company - Cash / Receivables – Payables / Trucks / Tools / Equipment / Material. Assets of Firm - Cash / Business Process / Sales Process / Client List / Predictable Cash Flow. Contractor Not A Banker - Student of Business Consulting And Accounting who has mastered the art of managing cash flow properly.

article thumbnail

Huge Construction Company Profit Increases Are From Tiny Changes

Contractor Bookkeeping

We are happy to be able to offer free Invoice templates, free Change Order templates and free estimate templates to construction contractors and other business owners to help them grow their sales and profits and have better lives for their families. Change Orders are a huge source of new profit. Click here to learn more.

article thumbnail

How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! The most common situation is when a residential remodel contractor who has built a reputation and a substantial company generating profits of 15% or more decides to start building custom homes.