FINANCE Archives

How Technology is Transforming Construction Collections 0

By Claire Wilson, Siteline The construction industry has a persistent challenge: getting subcontractors paid on time. Sound familiar? Given that only 5% of trade contractors report always getting paid on time—with most waiting an average of 90 days to get paid—delayed payments are an all-too-common frustration. This challenge partially stems from where subcontractors sit in

How Proper Lien Waiver Management Reduces Payment Claims 0

By Patrick Hogan, handle.com Payment disputes are one of the most frustrating roadblocks on any project. They slow down cash flow, create unnecessary tension within the project, and often escalate into formal claims that consume time and resources. Fortunately, many of these disputes are avoidable. Effective lien waiver management—done with clarity and consistency—ensures all parties

Prompt Claims Reporting 0

By Builders Mutual Your insurance premium isn’t just another bill to pay each month. Your coverage is an important part of your business toolbox, helping to take care of injured workers, repair or replace damaged equipment, provide financial protection, and much more. Prompt claims reporting is important for speedy action if an incident does occur and

Looking Ahead: Optimizing Credit Applications for a Smoother 2025 0
- Documentation, FINANCE, Payment, Risk Management
- September 24, 2024
By Patrick Hogan, handle.com With Q4 upon us and the following year just around the corner, keeping a close eye on how credit is extended and managed will be vital to setting up for success. Subcontractors must stay on top of their credit management practices to protect cash flow and keep things running smoothly. At
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4 Reasons Why You Should Use Financing – Even If You Have Cash in the Bank 0
- FINANCE
- August 27, 2024
By Travis Mayor, Billd Being financially stable is all about your cash flow, how you manage risk, and the working capital options you use to run your business. A working capital stack that includes cash, lines of credit, material financing, and supplier terms allows you to pull from different sources of capital based on your
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Building Financial Foundations: Credit Management Careers in Construction 0
- CONSTRUCTION, FINANCE, HR, WORKFORCE, Workforce & Professional Development
- August 27, 2024
By Patrick Hogan, handle.com Credit professionals play a vital role in maintaining financial stability and ensuring the smooth operation of construction projects. They are essential for evaluating financial risks and establishing strong relationships with clients and partners. For individuals interested in pursuing a career in credit, especially within the construction industry, it’s crucial to understand
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