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Deep Dive: How Digital AP Can Help Construction Firms Navigate Payment, Procurement Challenges

PYMNTS

Many of these processes are decades-old and must follow complex regulatory guidelines, as is the case in the construction industry. Construction companies are facing both time and cash crunches due to dwindling work opportunities and slower payment timelines during the crisis. Late or lagging payment processes can expand costs.

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Digitizing B2B Payments: Virtual Cards Save CFOs Invoicing And Payments Hassles

PYMNTS

Construction companies need to ensure they can swiftly purchase materials and other supplies to complete their projects and maintain steady cashflows. These strains are prompting more construction firms to turn to faster, digital means of conducting their B2B transactions. How Virtual Cards Help Build Better Construction Pr ocurement.

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How to Handle Deferred Revenue

VCFO

Businesses that regularly contend with deferred revenue include subscription- or license-based businesses (like SaaS organizations or content streaming services), construction, professional services, or property management firms issuing rental agreements. As the points suggest, deferred revenue isn’t just an accounting issue.

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Report: Using Digital AP To Build Faster Subcontractor Payments Flows

PYMNTS

The September CFO Guide To Digitizing B2B Payments explores how corporate buyers are streamlining their B2B transactions with digital payments and supplier onboarding tools. The CFO Guide To Digitizing B2B Payments , a collaboration between PYMNTS and Comdata , examines how companies are upgrading to digital vendor onboarding and payments.

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Does My Business Debt Need Restructuring?

CFO Share

As a turnaround CFO , I have seen too many good small businesses collapse under the weight of unmanageable debt. When pursuing such a strategy, work with a fractional CFO and build a budget to ensure you can increase revenue to pay off your debt. Here’s a common scenario: Joe owns a construction company.

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Hiring In-house for accounting and bookkeeping

CFO Share

Customer invoicing – in-house. Customer invoicing is generally best performed by in-house staff familiar with contract terms, sales processes, and client relationships. For example, a construction company with multiple projects needs a bookkeeper in-house to allocate costs properly. Manufacturing AP – in-house.

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Two CFO-Level Accounting Tools to Add Value to Your Accounting Services

The CFO College

Increase Your Value and Boost Your Services with Two CFO-Level Accounting Tools. Simply by implementing a few CFO-level skills and tactics (and learning how to prove our value to potential clients), you can position yourself as someone your clients instinctively turn to as they navigate the sometimes turbulent waters of running a business.