Five Reasons Construction Companies Need a Payment Strategy
Construction companies need a payment strategy to accelerate payments now more than ever.
Understanding the Eichleay Formula: Recovering Compensation From Project Delays
If a construction project is delayed by the actions of the project owner or another contractor, the delayed contractor has the right to request compensation for the impact of the delay. The most common calculation related to compensation recovery is the Eichleay formula.
Understand and Reduce Operation Costs in Construction
A smart, strategic approach is required for any construction company to reduce operating costs.
Pandemic Magnifies Financial Risk in Construction: What Executives Can Do to Speed up Customer Payments
Managing payments and the paperwork that goes with them is key to ensuring that construction businesses have the funds they need to grow and build their businesses.
Subcontractor Strategies to Maximize Payment in Bankruptcy
When a contractor files for bankruptcy protection, it impacts the entire chain. How do other parties get paid?
Construction Technology and Software Rundown: July 23, 2021
Apps SafeSite Check In digital check in, jobsite safety and productivity app now features detailed weekly reports containing activities and hours worked by subcontractors, employees and project via daily log automation. Supervisors can upload pictures [...]
Optimize the Balance Sheet to Find Hidden Equity
Scrutinize accounts more fully to ensure the amounts are recorded properly and maximize the equity of your company.
Consider a Business Line of Credit Instead of Personal Loans for Construction
Small business owners should separate business from personal expenses. Using a business line of credit to pay for personal expenses should be avoided. It can raise a red flag for the IRS to audit business and personal tax returns.
