Dexter + Chaney Blog

In 2018, the Dexter + Chaney blog will be merging with Surveyor, the Viewpoint Blog. The construction industry articles you've enjoyed over the years will continue to exist in Surveyor, as will our commitment to writing excellent industry content. We look forward to seeing your comments and feedback on the Surveyor blog and thank you for reading the Dexter + Chaney blog. Blog posts will continue to be available on the Dexter + Chaney website during the migration. To view the Viewpoint Surveyor blog, click here.

Time to buy construction software

It's that time of year again,the leaves turn colors, the days are cooler, and construction companies start to evaluate their construction software and consider if it's time to purchase something new. To help the decision process, I've created some points to consider when making the switch to a new construction software application.

Negative cash flow - empty pockets

Previously, we discussed how construction project estimates and the way in which cash flows in and out of a job affect a contractor's ability to manage cash flow. Today we'll discuss two more minefields that contribute to construction cash flow's volatility.

Negotiating the Cash Flow Minefield

Cash flow is an extremely hot topic for any type of business. A few weeks ago, I bumped into a friend of mine who is the controller for a local construction firm. While talking, I asked her to name the single biggest issue she's facing. Without hesitating, she said, "Cash flow."

For most industries, there is risk but predictability in cash flow. This is less true for construction. Contractors face an environment in which not only is risk present (and these days quite high), but it is much harder to predict and control. Over the next few days, we'll take a look at some of the elements that make it difficult to manage construction cash flow starting with estimating and income verses outgo.

Documentation Paper Trail 120px

My first job out of college was in the accounting office for a construction company. My supervisor regularly told me, "Always keep a paper trail." She obviously lived by this practice, as her filing cabinets were stuffed with old documents and printed emails, and her email inbox was regularly at capacity and she had to ask for more memory. I kept this advice in mind but never really understood the value of it until the day she came under fire for a miscommunication that was going to cost the company $200,000.

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