Is remote work here to stay? The pandemic has pushed many companies into remote work scenarios, whether they were ready or not! Now, as companies begin to plan for a post-pandemic world, the key question is: "How much of this remote work scenario should we keep?" There are certainly efficiencies and benefits to remote work, but we also know there are costs.a The answer for many companies will likely be a hybrid model. A balance of remote...Read More
When it comes to cash flow, maintaining a standard of excellence is easy. All you need to do is follow a formula that I call filling the GAP. This formula has three simple steps that, when followed, produce great results. By filling the GAP, you can ensure that your company maintains positive cash flow. G = Goal Establishment The first – and most important – step toward filling the GAP is to establish cash flow goals for each project and...Read More
Taking action to secure positive cash flow requires direct communication, detailed billing and proper documentation of changes to a job’s original scope. As you read through each action segment, make a note of how you can improve your processes to support positive cash flow. 1. Communication with Your Staff Communicating to your sales and estimating departments that getting paid on time is very important and can often stop cash flow prob...Read More
Many contractors struggle with cash flow. Although this can be attributed to many factors, admitting you have a problem is the first step to recovery. Before you can take corrective action, however, you first need to understand where problems are coming from. That’s where your construction software reports come in. Here are five reports that can be used to identify cash flow issues before it’s too late to recover. 1. Analyze Cash Flow ...Read More
When I ask a business owner about his data backup system, the typical answer is: We do a backup every day. The problem is, simply creating a daily backup isn’t enough to protect your data in the event of a catastrophic loss. What you need is a proven backup system and a tested disaster recovery plan. When considering your backup and disaster recovery system, and budgeting accordingly, here are some of the questions you need to ask – and an...Read More
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