Tag: Cash Management
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Lien Policy: Best Practices and Overview
Lien Strategy Before getting into the ins and outs of lien strategy, it’s important to note that filing a lien is only one step in the process of lien rights management, and lien rights management is just one aspect of credit management and receivables policy for construction companies. The zlien methodology: Protect, Monitor, Warn, Secure,…
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Construction Financial Management: The Year In Review
Cash is king, and, therefore, is important to construction industry participants, as it is to any business. Managing finances in the construction industry, however, presents some unique challenges. The credit industry has a convoluted payment structure, and most extensions of labor and/or materials to construction projects are done on a credit basis. Further, construction companies must maintain positive cash flow to…
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Construction Technology: Automation Makes You More Money
Technology can significantly improve and simplify our daily lives, both personally and professionally. It makes little difference what particular job you have, it’s exceedingly likely that it has been touched, modified, or otherwise improved by technology in some way. While the exact technology used varies between jobs and industries, the fact that technology is used doesn’t.…
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B2B Receivables/Benchmarking Lessons for Financial Managers
In most cases, collecting on an invoice is not a problem, as a very high percentage of invoices are paid before they age past 90 days. Nevertheless, an entire industry of workers (i.e. credit managers) and vendors (credit monitoring, insurance, etc.) are dedicated to helping companies manage those instances when collecting an invoice is a…
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Construction Company Growth and Increased Cash-Flow
Good News: The construction industry has been rebounding from the recession fueled decline, and has been growing for the better part of 3 years. And, with construction spending and the number of new projects up around the country, that trend looks to continue, and strengthen in the near future. Bad News: The growth has been…