Author: Paul Dean
-
How Small & Medium Construction Businesses Can Reduce Payment Risk
Ever wondered how to get paid faster on a particular job or how bad debt could be significantly reduced and even avoided entirely? Over the past 10 years, we have spoken to literally thousands of people in the construction business, folks just like you. From that wealth of experience, we’d like to share a few…
-
Colorado Construction: Which Notices Should You Send?
In our conversations with accountants and office managers working for construction companies in Colorado, we often get the question, “What Notice Should I Send to Get Paid?” While Colorado does have a notice requirement, it’s not a ‘preliminary notice’ that’s required. No, in Colorado you don’t have to send preliminary notices, but you do have…
-
How to Be a Successful Office Manager in the Construction Industry
From talking with office managers in construction, we know that they are responsible for a lot more than just paperwork. Office managers often wear many hats and are responsible for many important business functions such as Cash Management (often they’re responsible for both money coming in and going out the door), Accounting & Bookkeeping, Human…
-
How to Reduce DSO of Construction Invoices
Credit teams in the construction industry constantly battle late payments. In particular, subcontractors and suppliers performing labor or supplying materials to help permanently improve a property are farther removed from the money behind the project, and, therefore, must often deal with dreaded DSO (Days Sales Outstanding). Read on to find out some of the best…
-
Why Credit Managers Should Send Preliminary Notice on Every Project
The preliminary notice is one of the most potent weapons in a credit manager’s arsenal. It’s fairly common for credit managers to send these documents on projects in states like Texas, Florida, or California, in which sending preliminary notice is required to secure lien rights. Read on to see why credit managers should send preliminary…