Our last blog was all about slow pay in the construction industry. It really sucks! And, it’s costing the industry as a whole nearly $40B a year. On top of the sheer astronomical cost, though, slow pay is the root cause of a finicky subject in construction: project attrition. Attrition is the process of gradually…Read More
Slow Pay Sucks: Why the Speed of Construction Payments Matter
In early June, Contract Simply, a construction loan software that helps manage monthly draw requests, released its Construction Payments Report 2018 titled, “Why the speed of construction payments matter.” The study was conducted to evaluate how slow pay affects the construction industry as a whole. The study, which was later reported on by Construction Dive,…Read More
How to Successfully Manage a Construction Budget
Your construction project budget is, arguably, the most important aspect in determining whether or not your project is a success or failure. If you finish out your construction project on budget, or of course, under budget, your stakeholders remain happy, and you can move past the project with triumph. Colossally ending up over budget on…Read More
DrawAlert Announces Major Upgrades with Version 3.0
DrawAlert is making headlines this week after launching the much-anticipated 3.0 version of the construction risk mitigation software. This version is based on the updated Angular 5.0 framework, Material Design, and leverages Microsoft’s Web API hosted in Azure Web App for expanded security, easily enabled future data and system integrations. DrawAlert is the market’s leading…Read More
DrawAlert 3.0 is Coming Soon – Invest in Transparency!
If you fund or manage construction projects, we think you deserve to know exactly who your stakeholders are, how to protect yourself from risks, how to save money throughout the project, and how to achieve the very best results on your construction projects. We believe that transparency builds trust, and DrawAlert ensures stakeholder collaboration on construction projects to keep…Read More
The Importance of Time Management in Construction
Time management in the construction industry may get a bad rap, but it’s one of the most important aspects of any construction project. Two of the biggest reasons time management is so important on a construction project are time and money. The construction industry is, unfortunately, often known for both low jobsite productivity and traditional…Read More
We are proud to be sponsoring the IFMA BIM Conference 2018 on March 19th
Join us for this can’t-miss conference that is offered in conjunction with IFMA Facility Fusion. Register for the BIM pre-conference and the full Facility Fusion conference and receive a deeply discounted rate. http://facilityfusion.ifma.org/features/bim-pre-conference/ This year they have expanded the BIM Conference to a full day event, bringing industry experts, real world experiences and projects all…Read More
4 ways states will fund infrastructure projects in 2018
While the construction industry awaits the big reveal of President Donald Trump’s long-anticipated infrastructure plan – promised to be introduced this month – state and local governments are likely wondering how the details will affect the way they finance repairs and construction of highways, bridges and other public projects. One thing that Trump made clear…Read More
Here’s What the New Tax Bill Means for Construction.
Construction companies should brace for change. The 30-plus-year drought since the last tax code overhaul is now over as Congress sets out to vote on and place a now-finalized tax bill on President Donald Trump’s desk. The bill slashes the corporate tax rate from 35% to 21%,…Read More
California Contractors on the hook for Subcontractor Wages effective January 1st
General contractors in California will be faced with big changes as new legislation takes effect January 1, 2018. Kim Slowley, of Construction Dive, does a great job outlining the changes and potential impact of this new legislation in the below article (Slowley, Kim. “CA bill leaves general contractors on the hook for subcontractors’ employee wage…Read More