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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. This allows you to maximize cash flow without having to pay for additional software (well, unless you’re mailing out paper invoices and waiting for checks to come in). Speed Up Receivables. Use Financing to Provide a Cushion.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. This allows you to maximize cash flow without having to pay for additional software (well, unless you’re mailing out paper invoices and waiting for checks to come in). Speed Up Receivables. Use Financing to Provide a Cushion.

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How to Deal with Extended Lead Times and High Material Costs

Levelset

Contractors report that supply chain disruptions impact inventory and their ability to forecast for the future. According to the 2022 Construction Cash Flow & Payment Report , construction businesses reported slow payments contributed to wasted resources (45%), reduced profit (41%), and failure to meet payroll (18%). .

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40+ Fresh Product Releases You Should Know in January

Autodesk Construction Cloud

Cost Management | Cash Flow Consolidated View* – Within the Cash Flow view, distribution modifications can be made in a new sub-table view, allowing users to see the context of the other distribution items while making adjustments.

Products 105
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The Interconnected Construction Organization — Part 2: The Benefits of Integrated Construction Software in the Cloud

Viewpoint Construction Technology

Finance and Accounting: ViewpointOne streamlines and simplifies payroll, billing and vendor payment process while offering in-depth cash flow tracking and project reporting. The financial team can bill quicker, get paid faster and keep cash flow on projects fluid, all while saving time.

Software 130
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How to Get Your Supers to Actually Fill Out Daily Reports

ProcurementExpress.com

These documents contain a wealth of information, providing insights that can inform future contracts, estimates, and inventory management. This allows off-site personnel and clients to gain a clear understanding of a project, without ever stepping foot on the job site. The benefits of daily reports are undeniable.

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Coming up with the new normal: How construction can turn the COVID-19 crisis into a transformative force

Lets Build

There are both short- and long-term changes that construction players need to keep an eye on as construction sites reopen and field operations start to speed up again. Technologies such as BIM, project management software, and cash-flow apps are expected to take up more space in the industry as we move forward.