5 Vital Tools for Cash Management in Your Construction Business
- Cash Management, FINANCE
- October 24, 2023
By Claire Wilson, Siteline For subcontractor accounting teams, there are few tasks as fraught with potential pitfalls as progress billing. What should be a well-orchestrated process to keep money flowing has become an arduous cycle of paperwork, customized forms, disparate payment portals, and a never-ending string of missing information. However, recent innovations in construction technology
READ MOREAre You Walking in Circle or Hitting the Mark? By Leah Gradl, Kent Companies Scientists proved that people really do walk in circles when lost. A study in “Current Biology” examined the walking trajectories of people who walked for several hours in the Sahara Desert. The results showed that participants were only able to maintain
READ MOREBy Claire Wilson, Siteline In construction, the field and the back office are an organization’s yin and yang—one cannot exist without the other. While those in the field are doing the work required to bring in revenue, the back office is busy managing that revenue to ensure financial stability for the entire organization. The back
READ MOREBy Tonya Schulte, The Profit Constructors Maintaining a system that allows you to stay on top of how much money is coming in and how much is going out gives you the advantage many subcontractors miss. When you can see the flow of cash (as if you’re looking at the flow of a river), you
READ MOREBy Patrick Hogan, handle.com Running a construction business is no small feat, and the challenges of operating in this industry are well-known. From financial fluctuations to regulatory hurdles, these challenges make subcontractors some of the toughest business people in any industry. For every issue, of course, there’s a long history of subcontractors learning lessons and
READ MORE