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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. Real-time work-in-progress figures, or WIP, allow teams to become more efficient, effective, and remain in control. Which then throws everything off from revenue forecasting to budgeting. That’s accounting’s job, right?

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. Real-time work-in-progress figures, or WIP, allow teams to become more efficient, effective, and remain in control. Which then throws everything off from revenue forecasting to budgeting. That’s accounting’s job, right?

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Tips for Creating a Healthy Cash Flow

Best Practices Construction Law

Prepare cash flow forecasts and make any necessary adjustments during the course of a job. Monitor work-in-progress reports, cash flow reports and other documents to spot cash flow issues while there’s still time to do something about them.

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Construction Company Failure Root Causes

Contractor Bookkeeping

Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Changes in their operations due to contingencies beyond their control. Construction Company Failure Root Causes.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

While cash flow problems can come from several different sources, review the list below for three strategies that construction companies can use to improve their cash flow management process, thus freeing up more working capital and reducing those unpredictable highs and lows that have long been hallmarks of the biz. Embrace Automation.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

While cash flow problems can come from several different sources, review the list below for three strategies that construction companies can use to improve their cash flow management process, thus freeing up more working capital and reducing those unpredictable highs and lows that have long been hallmarks of the biz. Embrace Automation.

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Process Dependent Vs. People Dependent Increases Contractor's Profits

Contractor Bookkeeping

Construction Company Failure Root Causes: Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Changes in their operations due to contingencies beyond their control.