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Utilizing The Power Of Financial Modeling In The Construction Industry

Contractor Bookkeeping

In the ever-evolving world of construction, financial modeling is a game-changer. Crafting precise and insightful financial models is a valuable tool for construction companies. It offers a panoramic view of the asset landscape and enables proactive planning and strategic management.

Modeling 109
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5 Critical Construction Project Reports your System Should Pull Without Fuss

Viewpoint Construction Technology

The main reason construction businesses implement an integrated project management system is for the visibility that they can gain over every aspect of a project. Here’s a list of key reports that you should be able to pull at any moment from your construction project management software: Basic Accounting Reports.

Cash Flow 130
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The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

Levelset

Low Bidding Impacts Contractor Cash Flow. percent , according to the Construction Financial Management Association. That disrupts your project’s, and your organization’s, cash flow. Cash flow shortages impact performance. Learn more: 12 tips to manage cash flow on construction projects.

Bidding 98
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Bigger, Better Jobs: Tips for Getting the Jobs That Help Grow Your Business

Levelset

Delayed payment is felt by nearly 90% of contractors, according to Levelset’s 2021 Construction Cash Flow & Payment Report. While most specialty contractors aim to take on jobs with higher profit margins, buying materials upfront can drain the available cash needed to make this happen. Bid bigger.

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Data Analytics Trends in Construction

Viewpoint Construction Technology

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. Your data can help you develop these models.

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9 Tips for Starting an Architecture Firm

Levelset

For example, here’s a recommended breakdown of a principal architect’s hours: 25% marketing and business development (bringing in new work) 25 to 35% administrative and financial tasks, team management 40 to 50% architecture and design. Pay close attention to cash flow. Learn more: An architect’s guide to cash flow.

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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