A successful contractor does everything possible to run a lean, financially sound company. Finding ways to save money while increasing margins, improving cash flow and operating more efficiently is key. Following are 12 financial strategies to help contractors stay financially healthy.
Making Data Work for a Construction Company: Don’t leave cash sitting on the shelf
From RFIs and change orders to reports and budget decisions, jobsites produce a dizzying amount of data each day. Yet most companies are not leveraging the analytical and trending interpretation capabilities construction software has to offer. Data is currency and companies cannot afford to ignore it.
Getting Paid – Lien Software Untangles the Complications of Filing Liens: Subcontractors can prepare, send and monitor preliminary lien and bond notices and deadlines with lien software
Lien and bond claim laws are complicated, so consider lien software tailored for subcontractors that ensures compliance with statutory forms, prevents missing deadlines and creates business efficiencies to save money and get paid.
Money Saving Technologies for Construction – Are There Any Other Kind?: Contractors are saving money with cloud computing
The construction industry is shifting to cloud-based technologies, including document storage and collaboration services. With business operations and personnel spread across multiple jobsites, using hosted software, Saas and PaaS for core business functions is changing construction’s reputation as a technology laggard.
Financial Statement Red Flags to Detect Internal Theft: Construction Contractors Can Minimize Financial Damage by Recognizing Fraud
Financial statement fraud is a real threat to businesses large and small across all industries. The first line of defense against these criminal activities is the implementation of systems, policies and controls intended to safeguard an organization and deter fraud or stop it in its tracks at the first sign of detection.
Five Apps for Small to Medium-sized Construction Businesses
There are hundreds of apps on the market to help small to medium sized construction business be more productive and decrease costs. When choosing software applications, look for functionality, business goals and usability, whether for project management, estimating and bidding, job costing and accounting, CRM or photo annotation.










