Do You Need Progress Billing Software? 9 Must-Ask Questions
- Cash Management, FINANCE, Improving Productivity, Payment, TECHNOLOGY
- April 23, 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
READ MOREBy Patrick Hogan, handle.com In the construction industry, new technology can make work faster and more accurate. Yet introducing new tools can sometimes be tricky because not everyone is on board right away. Clear and direct communication is critical to winning over your team. This article covers straightforward ways to talk about new technologies so
READ MOREBy 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 MOREBy Joseph Kanfer, Woolford Kanfer Law, PC One of the most important things a subcontractor can do to plan ahead is to have a plan to get paid on their projects when their customer does not pay on time. Many subcontractors do not start thinking about what steps they might take to get paid until
READ MOREBy Patrick Hogan, handle.com Late payments can create a ripple effect of negative consequences for subcontractors on construction projects, including cash flow struggles and potential legal disputes. As a subcontractor, you need a clear understanding of how late payments can affect construction claims. The construction sector is steadily growing, yet more than half of subcontractors
READ MOREBy Patrick Hogan, handle.com To keep up with the pace of competition and the overall business landscape in construction, time and cost management are two critical factors that construction business owners and construction project managers must consider. Construction projects involve multiple stakeholders and many moving parts, making it challenging to maintain organization and efficiency. Implementing
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