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Construction accounts payable & how to improve it
...subcontractors is essential. Any delay or issues in accounts payable can strain these relationships. Especially when the market is experiencing a shortage of subcontractors, it’s critical to pay subcontractors on time and accurately to ensure your overall project progress stays on track. Fraud and security risks Accounts payable processes can fall victim to fraud, especially...
Podcast
Buildertrend spotlight: Customer Success with Scott Siegert
...Tom Houghton: Yeah. That sounds a great way to understand our business, but we’re also going to apply this to your own business, so that way- Paul Wurth: Right. Exactly. Tom Houghton: Yeah. So good takeaways. Paul Wurth: Because our listeners, as Brooke has told us, are clients, as well as our employees and friends...
Podcast
IBS 2024 preview: How to retain top talent with Nick Schiffer
...carpenter and be a carpenter for a really long time and maybe have a handful of guys. It wasn’t until year two or three that I really started thinking about it as a business and really started building it as a business. So, I think what happened was that over time I started hiring people...
Podcast
Staying financially fit in residential construction with Russ Stephens
...is tailored and specific to the construction industry, it’s also just really, really good advice for business practices in general, no matter what kind of segment your business serves or what you’re doing. It will give a lot of really, really good insight into forecasting out your cash flows and things that you can do...
Blog
Profitability principles: The importance of financial management in construction
...workers, businesses can struggle. So, how do you weather an uncertain economy? By adapting, taking on a growth mindset and putting financial management at the forefront of your construction business. Diversify Don’t pigeonhole your business. Diversification of services and the markets you serve can help buffer against economic fluctuations. By expanding your offerings to include...
Podcast
Resource roundup: Online courses, guides and more to help you grow
...the phone who have talked to other businesses, who have seen what other customers have been successful with. And you also are busy. You’re running a construction business. There’s things happening on the job site, and every day can be a fire, is what people will often describe it as. Change orders, deadlines being missed,...
Podcast
IBS 2024 preview: How to ensure profitability with Brad Leavitt
...signs or things that maybe you could look at from a business strategy standpoint, or is it purely kind of just the relationships and the vendor partnerships? Brad Leavitt: I think there’s a ton of business opportunity. It’s funny, as you’re in the booth and you’re speaking to other vendors, think about … I’m a...
Blog
A new way to work: Why strong project management systems aren’t enough anymore
...planning and adaptive operations, construction businesses risk missing major growth opportunities. Failing to address the business as a whole also leads to problems building a loyal customer base and being unprepared for market fluctuations. A holistic approach that encompasses all aspects of the business is essential to achieving long-term stability and success in the competitive...
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