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Why Credit Management in the Construction Industry Is Unique

Why Credit Management in teh Construction Industry Is Unique

The construction industry brings unique challenges to contractors and subcontractors when it comes to credit management. Extending credit on large-scale construction projects can be risky, as projects require a large upfront investment of both labor and materials, and because projects can span years with payments made in installments. Of course, extending credit and exposing oneself to risk […]

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How to Reduce DSO of Construction Invoices

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 ways […]

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How Subcontractors Can Grow Business by Minimizing Risk

How Subcontractors Can Grow Business by Minimizing Risk

Small subcontracting firms looking to grow a business may be afraid to take on larger, higher-paying jobs for a few reasons. These jobs typically require a larger cash outlay, and the contracting firm often gets paid incrementally through installments over weeks or months. This can wreak havoc on cash flow — and then there’s the greater […]

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Construction Financial Manager Review: June 24, 2016

CFM Review

SUBSCRIBE  |  SHARE This week’s Construction Financial Manager Review touches on a variety of subjects including the economy, construction technology, and operations. We try to provide you with major headlines and interesting insights to keep you on the cusp of industry news. We hope you enjoy this week’s review and would love to get your feedback. Happy […]

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Why Credit Managers Should Send Preliminary Notice on Every Project

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 […]

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Using a Lien Software Doesn’t Mean You’ll Lose Your Job

Using a Lien Software Doesn’t Mean You’ll Lose Your Job

One of the most common concerns we hear when talking to potential clients is that using a software such as zlien will cost them – or one of their colleagues or employees – their job. Using a lien software doesn’t mean you’ll lose your job. On the contrary, lien software is a tool that – when fully […]

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Lien Waiver Red Flags

Lien Waiver Red Flags

Lien waivers are a commonly exchanged document in the construction industry. Typically, the paying party requires the receiving party to execute a lien waiver acknowledging that they have received payment and waive any future rights to file a mechanics lien on the project in question. Since lien waivers are so frequently exchanged, the documents are […]

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The Top 5 Construction Payment Myths Debunked

The Top 5 Construction Payment Myths Debunked

Getting paid is truly the only thing that keeps a business open. There are a lot of tips and tricks that are suggested to keep the cash flowing, however, they are not all sound advice. Especially in the construction industry where invoicing and payment methods can be more complicated, there are some stubborn construction payment myths […]

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Proactive Practices for Construction Invoice Collection

Proactive Practices for Construction Invoice Collection

Although we would all like to blame our customers’ late payments wholly on them, it may be more productive to take a good internal look at construction invoice collection processes. This is especially true if it seems like late payments are becoming a trend among your customers. There is rarely a time when invoicing customers is fun, so sometimes […]

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Construction Financial Manager Review: April 8, 2016

construction financial manager review

SUBSCRIBE  |  SHARE Welcome to the all new Construction Financial Manager Review. We’ve revamped the format and content to make this newsletter as informative and useful as possible for our readers. The purpose of the Construction Financial Manager Review is to save you time by providing a weekly roundup of curated articles and news for small business […]

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