ProcurementExpress.com

JULY 15, 2019

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. Armed with this information, guesswork becomes a thing of the past.

Cash Flow 68

Cash Flow Contractors Budgeting Budget 68

Construction Business Owner

APRIL 1, 2011

Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs.

Cash Flow 120

Cash Flow Construction Software Software 120

Construction Business Owner

SEPTEMBER 1, 2022

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. About Sortly.

Inventory 226

Inventory Resource Construction Materials 226

ProcurementExpress.com

JULY 15, 2019

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. Armed with this information, guesswork becomes a thing of the past.

Cash Flow 52

Cash Flow Contractors Budgeting Budget 52

Construction Business Owner

APRIL 26, 2012

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” The profit you calculate when bidding a job can fluctuate dramatically as work progresses. Was your initial estimate off? Home » Blogs.

Change Orders 120

Change Orders Construction Profitability Software 120

Autodesk Construction Cloud

JULY 8, 2021

A key piece is having the ability to see and compare how much specific items or tasks cost so you can correctly forecast and manage cash flow. . Construction firms can use cost codes to document, categorize, and analyze costs efficiently. Profitability . This is where construction cost codes come into play.

Construction 52

Construction Profitability Budgeting Budget 52

Construction Business Owner

NOVEMBER 3, 2011

Being the Best » The New Estimating Tool – Superintendents. Estimating departments have added a new tool to their repertoire – superintendent and foremen input. With backlogs down and work less plentiful, field supervision has come into the office and become an integral part of the estimating process. Add new tag.

Construction 120

Construction Software Software Accounting 120

Pro Builder

MAY 3, 2023

Having an agility mindset means you can better confront and manage labor shortages, higher insurance costs, supply chain disruptions, and cash flow challenges. It also enables you to better address document management issues in capital-intensive delivery cycles that can go on for months or years depending on the size of the project.

Deals 52

Deals Cash Flow Management Forecasting 52

Construction Business Owner

JULY 5, 2011

However, estimates show in order to properly maintain the current system and expand it to meet future needs, we need to invest $225 to $340 billion annually.”. AEM estimates that 35,000 jobs—many of which are in construction— are created every time $1 billion is invested in our infrastructure. document management. Add new tag.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 8, 2011

« The New Estimating Tool – Superintendents. document management. document management. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. I read a lot. Add new tag.

Construction 174

Construction Software Software Accounting 174

Construction Business Owner

FEBRUARY 2, 2012

When evaluating estimators, he says, “Business owners should not base estimating success simply on jobs awarded. In the end, jobs must translate to bottom-line profitability.” document management. document management. Add new tag. business development. change orders. cloud computing. communication. construction.

Construction 120

Construction Software Software Accounting 120

ProcurementExpress.com

FEBRUARY 11, 2019

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. Estimation tool. Document management. Profit margins in the construction industry are notoriously tight. As mentioned, construction teams risk losing out on profits when quality control isn’t given priority.

Procurement 63

Procurement Plans Construction Budgeting 63

Levelset

JUNE 21, 2022

Also, the Air Conditioning Contractors of America estimate 13% job growth by 2030, outpacing the average across all industries. So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow.

Cash Flow 98

Cash Flow Accounting Profitability Residential 98

Construction Business Owner

OCTOBER 10, 2011

What I heard is that finding the right person for an estimator and a project manager is crucial to success. In the meantime, what do you think makes a strong PM or estimator and how do you hire A players? document management. document management. Let us know! You can follow any responses to this entry through the RSS 2.0

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

OCTOBER 14, 2011

.” Every construction project is a gamble – you’re betting that your estimate is accurate, that labor and material prices don’t go through the roof, etc. Change orders can be harder to manage – and present more of a profitability challenge – than pre-planned project work. Yes, change orders are nearly inevitable.

Change Orders 120

Change Orders Construction Software Software 120

ProcurementExpress.com

FEBRUARY 11, 2019

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. Estimation tool. Document management. Profit margins in the construction industry are notoriously tight. As mentioned, construction teams risk losing out on profits when quality control isn’t given priority.

Procurement 52

Procurement Plans Construction Budgeting 52

Contractor Bookkeeping

MAY 30, 2013

Discounted cash flows. The cost (exact or rough estimate / whatever they have). How much time they estimate it will save (minutes / hours / days). Step 11 Construction Company - Annual profit as a percentage. Step 12 New Sales - Needed to generate same profit. Present value calculations. Opportunity costs.

Cash Flow 48

Cash Flow Profitability Equipment Estimating 48

Construction Business Owner

APRIL 12, 2012

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. Good document management software will be able to keep those certifications on file. document management. document management.

Construction 120

Construction Certification Green Software 120

Construction Business Owner

APRIL 21, 2011

Or maybe your accounting is solid, but your estimating is done using spreadsheets and it’s time to look into a trade-specific estimating program. document management. document management. You don’t need to be a technology rock star. Simply start by technologizing (yes, I made that word up!) Add new tag.

Construction 136

Construction Software Software Accounting 136

Construction Business Owner

NOVEMBER 17, 2011

This in turn lets the estimators use equipment rates that are spot on when estimating forthcoming work, which helps to get new work, and bring that work in profitably. document management. document management. Add new tag. business development. change orders. cloud computing. communication. construction.

Construction 136

Construction Software Software Equipment 136

Contractor Bookkeeping

NOVEMBER 15, 2013

. #02 Primary Financial Reports like Profit & Loss and Balance Sheet how your construction company is doing from a big picture view like looking out the window of an airplane cruising at 30,000 feet. 03 Job Costing Reports like Profit & Loss By Job, Job Profitability and Estimates Vs. . #03 Click Here For More.

Accounting 48

Accounting Construction Profitability Project Management 48

Contractor Bookkeeping

JULY 27, 2012

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.

Contractors 63

Contractors Cash Flow Construction Accounting 63

Construction Business Owner

MARCH 29, 2012

Until recently, those drawings were produced by hand, but in the last 25 years or so, computers have become the primary tool people use to produce construction documents. The estimator might ask – “How many cubic yards of concrete does this deck require?” document management. document management. Project Collaboration.

Construction 120

Construction BIM Software Software 120

Contractor Bookkeeping

SEPTEMBER 25, 2013

Required Documentation May include other customers or advertising. Washington State Resellers Permit saves money and increase cash flow: [link]. Making "A Profit" and Having Real "Money Left Over" is how you are able to the things you want to do in life. Is your #1 Favorite Customer adding / taking profits or cash flow?

Contractors 49

Contractors Cash Flow Washington Compensation 49

Construction Business Owner

JANUARY 5, 2012

One way to bid more work, without giving your estimator a quick trip to the funny farm, is to identify additional sources of project bid lists. document management. document management. There are fewer projects to bid and what projects are available are being bid by more people. Add new tag. business development. change orders.

Construction 120

Construction Bidding Software Software 120

Levelset

JUNE 21, 2022

Also, the Air Conditioning Contractors of America estimate 13% job growth by 2030, outpacing the average across all industries. So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow.

Cash Flow 52

Cash Flow Contractors Accounting Profitability 52

Autodesk Construction Cloud

JANUARY 6, 2022

The benefits of collaboration may include fewer changes and rework, a higher likelihood of an on-time delivery, higher profits, fewer wasted materials, and other important positives. Each member of the construction team is forced to compete with the others to earn a reasonable profit; delays, conflicts, and disputes are common.”.

Construction 52

Construction Estimating Design Budgeting 52

Construction Business Owner

APRIL 4, 2011

It is up to us, the contractor, to shape the message effectively and communicate to the client what the building will cost, an estimated time line to completion and any inherent issues that need to be addressed as early in the project as possible. document management. document management. Add new tag. business development.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

FEBRUARY 17, 2011

Today, new software applications – in job cost accounting, project management, estimating, etc. document management. document management. But should you rely on spreadsheets for accounting and jobs analysis? Dig out” that data with software alternatives. give you the horsepower needed to handle large amounts of data. foundation.

Construction 149

Construction Software Software Accounting 149

Contractor Bookkeeping

NOVEMBER 30, 2012

Have you checked your QuickBooks Profit and Loss report lately? Think for a moment on how many other things can you do while waiting for our computer open a document, save a file and my un-favorite pastime, installing updates, cleaning cookies and temporary files. Buying One More Thing In Before December 31st. Final Thought!

Equipment 49

Equipment Cash Flow Construction Banking 49

Construction Business Owner

JANUARY 4, 2011

When I started working in the industry we still used payphones to call the office from the “field” We used paper estimates, a calculator and copy machines. Not to double digit profit growth and sales increases, but to a more sustainable, long term path. document management. document management. Add new tag.

Construction 120

Construction Software Software US 120

Contractor Bookkeeping

JULY 30, 2014

They have a clear understand on the flow of paperwork and are willing to Give Directions to who work for them and Receive Directions from Advisors who are working with them. This includes a custom estimate sheet on Excel that they use to bid each job. Over a course of time they have developed a group of processes that work.

Accounting 49

Accounting Housing Construction Contractors 49

Contractor Bookkeeping

APRIL 20, 2013

The primary purpose for having a computer server in your office it to keep your financial records, client information and estimates safe in the event of disaster. Your customers and clients are busy with their own lives and most of them need to be reminded about how much they owe you in order for you to get paid and maintain your cash flow.

Contractors 48

Contractors Documentation Office Cash Flow 48

Contractor Bookkeeping

JULY 28, 2014

And we use them as source documents for bookkeeping entries. All construction problems are related to cash flow or communication. As soon as I need money I will ask for it - See Cash Flow Diagram. To calculate it take the contract amount and divide it by the estimated number of weeks to complete.

Contractors 48

Contractors Change Orders Accounting Cash Flow 48

Job Order Contracting

DECEMBER 13, 2020

Real property owners, architects, engineers, and builders all would profit greatly from just applying “Change Management 101” effectively as a priority. Visibility includes full transparency of tasks and costs, status, clear communication, and full document management. It encourages proactive work and problem-solving.

Project Management 162

Project Management Capterra Organization Management 162

Contractor Bookkeeping

JANUARY 2, 2015

The idea was you would do all the work they would get half the profits and you politely refused, or not? Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. Estimating Process - There is no one right answer.

Construction 48

Construction Insurance Accounting Claims 48

Contractor Bookkeeping

JUNE 20, 2014

You do all the work they get half the profits and you politely refuse. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Your business plan is a living breathing document that you will change and update as needed. This is getting very stressful.

Insurance 48

Insurance Construction Accounting Claims 48