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Seven Traits of Profitable Specialty Contractors

Fieldwire

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise.

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7 Ways Contractors Can Save Money

Viewpoint Construction Technology

Planning for construction costs can mean the difference between making a decent profit and barely breaking even. Inventory your assets. Take the time to create an inventory list of all the tools and equipment on the jobsite. No one wants too little workers on site, or too many at a time. Schedule smart.

Viewpoint 205
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Essential Construction KPIs to Improve Profits and Productivity

Autodesk Construction Cloud

Below, let’s discuss the importance of construction KPIs and critical metrics your company should be measuring to affect profits and productivity. Similarly, although basic construction project metrics concern costs and time, profit isn’t the only performance issue to measure. A safer site incurs less risk and long-term costs.

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Service Management Construction Software | Construction Manager Software

Viewpoint Construction Technology

Spectrum’s Work Order solution—the tools you need to keep operations profitable and clients satisfied. Track site equipment and component warranties. Purchasing + Inventory. Automatically bill per contract terms. Create or append work orders from incoming service requests. Review customer service history. HR + Payroll.

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Opportunities Shine in Community Solar

Green Building Law Update

But a 2008 study by the National Renewable Energy Laboratory found that less than 27% of residential rooftops are suitable for hosting an on site photovoltaic system, after taking into consideration structural, shading, and ownership issues. Advances in solar technology have made photovoltaics a much sought after energy alternative.

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

ProcurementExpress.com

Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. In a manufacturing context, WIP allows accounting to record all inventory items that occupy an in-between state.