Cash flow is the lubricant which keeps projects running smoothly in the construction industry. Construction projects, by their nature, tend to have uneven progress toward completion. This creates a challenging environment for you to keep cash flowing; so that you can finance your operations and complete your part of a project on time. Here are
The construction industry has been slow to automate its building processes and back office procedures. Practical limitations on automating building processes have kept most projects on a manual basis. Back office procedures are still handled manually by many construction firms because of the details, documents and timelines that drive the legal, financial and operational aspects
In the construction industry, contracts may be written on a completed contract basis or percentage-of- completion basis. In the case of a completed contract, you issue only one invoice when the job is finished. Percentage-of-completion contracts on the other hand, are used for larger, long-term projects where you invoice a number of times over the
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