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 The day sales outstanding, or DSO, is one of the most important key performance indices (KPIs) in the construction business. The DSO allows you to measure how fast you convert your invoices into cash — it helps you to not only assess the health of your cash flow but also to
READ MOREby Mark Marone and Robert Graves Key Insights In a rapidly evolving business environment, a customer-centered purpose provides everyone with a true north to enact change orders effortlessly. Customer focus gives people a stable grounding as they navigate toward their objectives, even in the midst of uncertainty and unpredictability. When employees have a shared purpose
READ MOREBy Patrick Hogan, handle.com Year 2021 has been punctuated with various successes and struggles for the construction industry. While the COVID-19 crisis continues to pose challenges not only to public health but also to the economy, many construction companies have had the time to adjust accordingly and get back on their feet. However, this public
READ MOREBy Patrick Hogan, handle.com Getting paid on time is one of the biggest struggles among contractors, subcontractors, and material suppliers in construction. With construction’s complex payment structures and ambiguous contract provisions, the problem with late payments continues to persist and trouble in the industry. Late payment issues are even worse during major economic downturns. When
READ MOREBy Timothy Woolford, Woolford Law, PC The good news for subcontractors is that the economy is beginning to take off following the Covid shutdown. The bad news, however, is that interruptions in the global supply chain and shortages in construction materials are causing delays and driving prices to all-time highs. The Wall Street Journal recently
READ MOREBy Mark Marone, PhD., Dale Carnegie and Associates The construction industry has entered a period of profound change, driven by digital transformation including the implementation of artificial intelligence (AI), arguably on a scale unlike anything seen before. A study by Dale Carnegie Training found that 67% of employees say they are already being impacted by
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