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RogerRossmeisl
AUGUST 9, 2021
Fraud is costly for all victimized companies, but it’s even worse in the construction sector. Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud. Fraud Briefs Construction Company Fraud
Randal DeHart
MAY 27, 2022
The use of technology in construction has come a long way. Many articles have already been written about how construction has been sluggish in adopting new advancements in technology compared to other business sectors.
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Randal DeHart
JUNE 3, 2022
One of the biggest challenges construction company owners like you have with an in-house bookkeeper is training them to work for your best interest, not theirs, and deliver consistent results and the reports you can trust daily, year after year.
Randal DeHart
JUNE 24, 2022
Your construction company can run into problems by not charging enough for goods or services, having late-paying clients, growing too quickly, or simply spending too much money. Cash flow refers to the movement of money into and out of your business.
Randal DeHart
APRIL 15, 2022
There is no better time to reflect and think seriously about your construction business. Construction Bookkeeping And Accounting Technology For Your Construction Company Automated Data Entry Construction Systems And Processes Contractor Guidance Construction Business Budget
Randal DeHart
MAY 6, 2022
Success in operating a profitable construction business is all about maintaining the proper balance of control over both The Profit Centers and The Cost Centers. If either one gets too powerful and is allowed to run your construction company, it can cause more damage than good.
Randal DeHart
MAY 13, 2022
Every day you make financial decisions about your company, which affect how successful and sustainable your construction business is. Keeping up with paperwork is a typical construction business timewaster we noticed in more than thirty years in the industry.
Randal DeHart
JUNE 10, 2022
When you're a construction business owner, your to-do list is often long and constantly growing longer. Business Process Management For Contractors Winning Teams Construction Productivity Contractor Guidance contractor delegation
TaxConnex
OCTOBER 29, 2020
If you’re a construction contractor – especially if you’re engaged in contracts in different states – you have to evaluate your sales tax responsibilities in each state where you have customers. Generally, a business that considers themselves in the construction industry is performing a service and most services are excluded from sales and use tax. That might be true in some states but different states have different rules when it comes to construction services.
Randal DeHart
APRIL 29, 2022
Many of us who owned and operated construction companies spent thousands of dollars on these experts and, based on their recommendations, spent tens of thousands of dollars annually in full-page yellow page ads as close to the first position as possible.
Accounting Today
JUNE 8, 2022
Diversity and equality Practice management Employee relations
PYMNTS
DECEMBER 28, 2020
In the construction industry, the ERP is especially valuable considering the complex network of collaborators, and subsequent high volume of data, involved in a single project. According to Satran, there are three main roles the ERP plays for construction firms today.
Accounting Today
JUNE 8, 2022
Audit International accounting PwC Audit preparation
PYMNTS
JUNE 24, 2020
To help project managers and administrators save time, Centsoft has unveiled an accounts payable (AP) automation technology for firms in the construction industry. B2B Payments accounts payable AP automation B2B Centsoft construction invoice automation News What's Hot In B2B
Anders CPA
JUNE 21, 2022
Louis, we’re always excited to share exciting construction projects happening in our own backyard. Construction has begun on the historic Butler Bros. The Anders Construction Group stays up to date on the latest projects in our city. Louis construction projects.
FraudFiles
MARCH 3, 2021
Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims. The construction analysis includes a comparison of the following numbers: Total expected cost of the project.
FusionCPA
SEPTEMBER 9, 2020
As an owner of a construction company, managing various elements from the field is necessary, and Xero accounting for construction companies can help.
PYMNTS
APRIL 23, 2019
Business management technology provider Sage is rolling out a new solution designed to help construction firms track the health of company finances and compare performance against industry peers. In a press release issued on Monday (April 22), Sage announced an integration between its Sage 300 Construction Real Estate platform and a benchmarking tool that is widely used in the industry.
Katz,Sapper&Miller
AUGUST 5, 2020
Katz, Sapper & Miller (KSM) has been named one of The Top 50 Construction Accounting Firms in the country by Construction Executive (CE) magazine
Katz,Sapper&Miller
DECEMBER 11, 2019
Katz, Sapper & Miller’s Construction Services Group will host a Viewpoint Construction Software® Local User Group Meeting Feb. 11 in Indianapolis
PYMNTS
FEBRUARY 20, 2019
Rabbet, an intelligent construction finance platform, announced Wednesday (Feb. With the support of Goldman Sachs , QED and Camber Creek, Rabbet will further its mission to bring frictionless transactions to the construction industry,” Rabbet CEO and Co-Founder Will Mitchell said in the press release. Our name represents our commitment to strengthening connections in the real estate industry and fueling today’s connected construction economy.
Katz,Sapper&Miller
NOVEMBER 14, 2019
Katz, Sapper & Miller’s Andrew Goodman will speak at the AssuredPartners Construction Industry Seminar. 19 in Indianapolis, the seminar brings construction professionals together to discuss trending topics in the industry including the legal, financial, and operational risks that construction firms face Taking place Nov.
PYMNTS
JUNE 17, 2020
home construction collapsed in March, the sector rebounded in May after steep declines caused by COVID-19 shutdowns, according to the U.S. Economy economy home construction NAHB News What's Hot ZillowFor the first time since U.S.
PYMNTS
SEPTEMBER 17, 2019
Keeping Construction Payments Fraud-Free. trillion construction market can have long-ranging effects. Cash flow problems can result in construction firms delaying payments to vendors, suppliers or subcontractors, which in turn can result in late delivery of supplies, therefore delaying projects from the beginning. In today’s highly interconnected ecosystem, businesses rely on many other companies to keep their operations running smoothly.
PYMNTS
DECEMBER 23, 2019
construction giant Carillion collapsed, but the saga continues to send shockwaves throughout the global construction industry. Small businesses are the fabric of the construction industry,” he said. Nearly two years have passed since U.K.
Katz,Sapper&Miller
JULY 31, 2019
KSM’s Construction Services Group will host a Construction Industry Update Aug. 15 in Indianapolis and Fort Wayne, IN
PYMNTS
AUGUST 16, 2019
Late payments are a headache for any industry, but the construction sector has seen some particularly detrimental effects from cash-flow bottlenecks. the collapse of construction conglomerate Carillion pulled back the curtains on the corporate’s B2B payment practices. Just a few months later, Welsh construction giant Dawnus met its demise, again calling to light the troubling practice of delaying payments to suppliers and subcontractors, often small businesses.
PYMNTS
SEPTEMBER 25, 2019
trillion construction industry has not yet had its moment of digital reckoning. Recent data indicates that construction firms typically rank in the bottom percentage of U.S. Construction firms looking to remain profitable must ensure proper cash flows and complete projects on time, but old school practices can get in the way. The Bureau of Labor Statistics found that the average annual salary for construction workers is $34,810. The $1.8
Randal DeHart
JUNE 17, 2022
Knowing which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round.
PYMNTS
AUGUST 12, 2020
Palette Software unveiled accounts payable (AP) automation technology that is designed for firms in the construction and engineering industries and run on the cloud, according to an announcement. In June, Centsoft introduced AP automation for companies in the construction sector.
PYMNTS
NOVEMBER 15, 2017
The latest research in B2B payment practices within the construction sector isn’t good: Two-thirds of small- and medium-sized businesses (SMBs) surveyed by the U.K. Just days after the FMB published its findings, invoice payment firm Nvoicepay announced a partnership with Viewpoint , a software firm targeting the construction space. These innovations are how we continue to transform the construction industry with cutting-edge technology.”.
PYMNTS
NOVEMBER 9, 2020
Many of these processes are decades-old and must follow complex regulatory guidelines, as is the case in the construction industry. Construction companies are facing both time and cash crunches due to dwindling work opportunities and slower payment timelines during the crisis.
PYMNTS
MARCH 8, 2019
A B2B transaction in an industry like construction, where what triggers a payment isn’t a single, simple invoice. It is perhaps unsurprising, then, that the construction sector is no stranger to delayed and late B2B payments. According to construction loan automation software company Rabbet , the vast majority of subcontractors get paid far beyond their net 30 terms. What’s more complicated than a B2B transaction?
PYMNTS
MARCH 8, 2018
Credit underwriting is more reliant than ever on Big Data, and one of the industries in which this is most pronounced is the construction industry. Plus, the construction industry today is complicated by delayed and late payments to contractors, sub-contractors and suppliers, while payments also face additional friction by the manual process of lien waivers, which confirms parties on a project have received payment and therefore have waived lien rights to the owner’s property.
PYMNTS
JUNE 12, 2018
There is a sudden surge in construction technology startups, and investors have perked up. Analysts forecasted a 40 percent increase in venture capitalist (VC) funding for construction startups between 2014 and 2017, with investments totaling $375 million last year. Other construction firms like Procore and FLUX have earned multimillion dollar funding rounds from big-name VCs, too, as innovators tackle the nuanced complexities of an industry.
PYMNTS
FEBRUARY 2, 2021
Although the concept is designed to support greater control over cash flow — especially for buyers — in the construction industry, “net terms” doesn’t necessarily mean what it implies. According to Yaser Masoudnia , CEO of LinqPal , which launched last month, this legacy B2B payments framework is just one example of the variety of legacy payment workflows upon which the construction industry relies. Net terms are a staple in the B2B payments arena.
Katz,Sapper&Miller
AUGUST 18, 2019
Katz, Sapper & Miller (KSM) has been named one of The Top 50 Construction Accounting Firms in the country by Construction Executive (CE) magazine
PYMNTS
NOVEMBER 16, 2018
Financial solutions provider Comdata is teaming up with Computer Guidance Corporation to integrate virtual card payment functionality for the construction industry. Computer Guidance Corporation offers cloud ERP solutions for the construction sector. Matt Butler, vice president of construction at Comdata, added that the partnership will help Computer Guidance customers “minimize the pain and hassle of paper checks and manual processes” when paying their suppliers.
PYMNTS
APRIL 25, 2019
However, according to Keith Holmes, VP of operations at equipment rental platform BigRentz , in the last several years, he has seen a significant shift from the purchasing model to the rental model among the construction companies that use the site. A construction company that secures a contract from a nationwide company like Walgreens or Walmart may have to rent the same type of equipment at multiple locations in the U.S.
PYMNTS
OCTOBER 16, 2018
Construction FinTech has evolved to target an array of financial friction points, with delayed payments, a mountain of paperwork and a crowded supply chain of contractors and subcontractors adding hurdles in the financial supply chain. There is widespread opportunity for FinTech to enhance visibility into the B2B payments process in the construction space, promote faster electronic payments and boost cash flow visibility.
Katz,Sapper&Miller
MAY 24, 2019
With the construction industry closing in on a decade of strong performance, all levels of employees should be aware of these threats and the costs of recovery (in both time and expense Wherever financial information and funds flow, there is the potential for losses caused by cyberattacks, fraud, and embezzlement.
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