Every Friday, we select a few articles from the week that we think are worth your time as a construction financial manager (CFM). We look for compelling articles not only about financial topics, but about business, technology, and life, that challenges you to think about your role as a CFM in different ways. We’d love to hear from you about how we’re doing, and to have you join our community by subscribing to receive this weekly post by email. Follow #CFMReview.
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Five Technologies That Will Increase Your Cash Flow This Year
from Forbes.com
Forbes technology expert Gene Marks cuts right to the chase: “…in the end, [business owner’s] do what we do for cash.” The list of technologies that will help you increase cash flow includes…
1. “Activehours was born from the simple idea that no one should have to wait weeks to get their pay when they’ve already earned it.” That’s straight from the Activehours website. Used by Uber, Starbucks and Chipotle, this no-cost-to-employer service allows you to hold on to payroll cash longer while your employees get paid faster.
2. Adobe Document Cloud: This cloud-based application, starting at $14.99/month, will help speed up sales, receivables and payable processes by making it easier (and faster) to distribute documents and collect signatures. Writes Marks, “My clients who have moved their invoicing, contracts, quotes and order processes from mail/email/fax to these services have all reported faster turnaround times and improved cash flow.
3. Anytime Collect: This A/R management application (and friend of zlien) connects with your invoicing data and then “[goes] to work: sending out collection letters and emails to overdue customers (supporting multiple contacts at an account), tracking activities (such as calls and emails) made with customers, maintaining notes, reporting on collection activities, recording cash payments and bringing it all back to the accounting system,” all that according to Marks.
>> See all 5 technologies that will grow your cash flow
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zlien Will Join Panel at ENR’s 3rd Annual Construction Risk Summit
On June 16th, in Dallas, TX, I’ll be partaking in a panel titled, “In Business Friendly Texas, Why Aren’t Subcontractors Dancing in the Streets?” ENR Editor Richard Korman will moderate, and I’ll be joined on stage by executives in the construction and supply industries.
While Texas has statutes that protect subcontractors, those same subcontractors are often overwhelmed by financial risks that get passed down upper-tier parties. I’ll speak about the complicated nature of Texas lien law, and how subcontractors navigate the laws properly to limit risk exposure.
>> Read the full press release
>> Learn more about the ENR Risk Summit and register
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