Improving Profits on Construction Contracts

By |2018-12-06T18:45:45+00:00September 11th, 2018|Categories: Business Tips, Construction Business Tips|Tags: , , |

Improving Profits on Construction Contracts Construction firms are always looking for ways to cut costs while delivering value and improving profits. However, in a competitive market, this is no easy task. Fortunately, there are many tried and true ways for firms to improve profits that do not require too much radical change. There are a few [...]

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The Top Five Tips to Improve Profits on Construction Contracts

By |2018-12-06T03:56:52+00:00July 23rd, 2018|Categories: Business Tips, Construction Business Tips, Construction Technology|Tags: , , , |

All businesses look for ways to improve their year-over-year earnings. For the construction industry, though, it's especially prudent to have a consistent plan in place to keep costs low at all times. The construction space is extremely vulnerable to the overall economic health of countries, states, and even individual cities; the ability to weather an unexpected [...]

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Research Shows Companies Are Moving to Cloud-based Accounting Solutions

By |2018-12-06T18:45:49+00:00June 22nd, 2018|Categories: Business Tips, Construction Accounting|Tags: , , , |

Companies across industry sectors are transitioning to cloud-based solutions. Forbes reported that between 2016 and 2017 hybrid cloud adoption increased from 19 percent to 57 percent of organizations surveyed. That's a three-fold growth, and trends are continuing upward. A survey conducted earlier this year found that 81 percent of enterprises have a multi-cloud strategy. The construction [...]

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8 Things to Consider when Drafting the Scope of Work Clause in Your Construction Contract

By |2018-12-06T18:45:54+00:00March 13th, 2018|Categories: Business Tips, Construction Accounting, Technical Info|Tags: , |

We doubt we need to convince you, a contractor, how important it is to negotiate the terms of a contract between you and the buyer of your services. You know that the contract will protect your right to payment for work done. There's a particular part of the construction contract, however, that we would like you [...]

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Software Solutions for Smaller Contractors

By |2018-12-06T18:45:59+00:00February 12th, 2018|Categories: Business Tips, Construction Technology, Construction Trends|Tags: , , , , , , |

Did you know that the world's most widely used business software, Microsoft Excel, is 30 years old? Though Excel is a relatively old dog in this digital world, it is still very popular in the construction industry for estimating, scheduling, and other project management activities. Spreadsheet pros and cons. Excel spreadsheets are familiar, easy to use and may [...]

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How Smaller Contractors Can Improve Year-Over-Year Profits

By |2018-12-06T18:46:00+00:00February 12th, 2018|Categories: Business Tips, Construction Accounting, Construction Technology|Tags: , , , , |

Smaller contractors rarely have the resources to set off a major overhaul in a short time. But, in an industry so tied to overall economic health (and therefore volatile) as construction, it's not uncommon for contractors to run into unexpectedly tight finances. In these situations, contractors have to figure out ways to improve year-over-year profits without [...]

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5 Reasons a Paperless Accounts Payable System is Good for Your Construction Business

By |2018-12-06T18:42:52+00:00January 16th, 2018|Categories: Business Tips, Construction Accounting, Construction Business Tips, Construction Technology, Construction Trends|Tags: , , , |

The overall financial outlook for construction in 2018 is consistent and stable. Commercial construction is expected to see a 12.4 percent increase in starts, while residential projects will see growth at six to nine percent. While the industry, in general, has seen a resurgence since the recession, individual companies are facing challenges to profitability. Analysts identify poor [...]

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Keeping Up with the Flood: 4 Estimating Tips for Busy Contractors

By |2018-12-06T18:43:59+00:00December 6th, 2017|Categories: Business Tips, Construction Business Tips|Tags: , , , |

When you're so busy you can't see straight, but you need to get a lot of estimates done in a short time, you know it's easy to miss something and end up in trouble. Here are a couple of tips that can help get you closer to the right number every time: Bottom-up Estimating When an extremely [...]

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Prepare to File 2017 Tax Returns Now

By |2018-12-06T18:44:01+00:00October 30th, 2017|Categories: Business Tips, Construction Accounting, Construction Business Tips|Tags: , , , |

It's never too soon to start preparing to file your federal income taxes. The IRS will begin processing tax returns for 2017 on January 22, 2018. Tax season is a busy time but it doesn't have to be a headache if you start organizing now. Doublecheck your company files. You need to supply your accountant with a [...]

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Five Reasons You Must Abandon Old School Paper Time Cards

By |2018-12-06T18:44:02+00:00October 9th, 2017|Categories: Business Tips, Construction Business Tips|Tags: , , , , , |

Why fix what's not broken? If this is your reason for not automating payroll and time tracking, you are not alone. In fact, only 20 percent of small businesses will invest in tools aimed at increasing employee productivity this year, according to one small business survey. Why did that 20 percent take the leap? Automated time [...]

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