CFO News Room

FEBRUARY 6, 2022

PulteGroup intentionally slowed sales, due in part to labor shortages in construction and supply challenges, CEO. The latest surge in Covid-19 cases made it tough for contractors to field crews, Mr. Marshall said, and more difficult to expand the size of their teams to keep up with demand. At defense contractor. Keller said. “I

Construction 130

Construction Manufacturing Forecasting Technology 130

PYMNTS

SEPTEMBER 23, 2019

only agriculture and hunting invest less in digitization than the construction industry, according to recent data. Even so, the global construction management software market is projected to expand at a compound annual growth rate (CAGR) of 9.2 In the U.S., percent from 2018 to 2022. Freeing Up Cash Flow.

Construction 67

Construction Accounts Payable Treasury B2B 67

PYMNTS

JULY 17, 2019

National Football League franchise the Oakland Raiders has been named in a lawsuit amid allegations of non-payment for construction on the team’s new stadium in Las Vegas. According to the publication, the legal dispute has not compromised construction on the stadium, with the project expected to be complete next month.

Construction 41

Construction Accounts Payable Invoicing Accounting 41

PYMNTS

OCTOBER 16, 2018

Construction FinTech has evolved to target an array of financial friction points, with delayed payments, a mountain of paperwork and a crowded supply chain of contractors and subcontractors adding hurdles in the financial supply chain.

Construction 64

Construction B2B Invoicing Finance 64

PYMNTS

JULY 10, 2018

Visit a construction job site and – along with the water coolers, chain link fences, portable toilets and tools – chances are you will come across stacks of papers, including plans, permits and invoices. The cost of late payments in commercial construction runs $40 billion annually, according to one recent industry report.

Construction 42

Construction Invoicing Budgeting Economics 42

PYMNTS

NOVEMBER 5, 2020

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.

Invoicing 64

Invoicing B2B Construction Accounts Payable 64

CFO News Room

NOVEMBER 18, 2022

New York: Voters approved the Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022, which establishes prevailing wage standards on construction projects. The bill also allows the state and municipalities to require contractors to execute labor peace agreements and buy American for structural iron and steel.

Economics 130

Economics Construction Prioritization Transportation 130

VCFO

MARCH 6, 2024

Setting the Stage for Secure and Constructive Engagement Throughout successful M&A deal processes, HR serves as a facilitative function. How many are FTEs, contractors, part-time, or seasonal employees? Here, we illustrate the role that HR should be playing throughout M&A evaluation. Are unions present?

Mergers and Acquisitions (M&A) 78

Mergers and Acquisitions (M&A) Leadership Construction Communication 78

PYMNTS

APRIL 8, 2020

Prior to the coronavirus, he told Webster, the company was enjoying the tailwinds of a construction boom, with an abundance of commercial and residential projects. The construction trade is marked by what he said was a landscape of “zero unemployment,” with fierce competition for labor. Thomas Vessella, Sr.,

Construction 52

Construction Retail Accounting 52

VCFO

MAY 10, 2023

From there, he went to work at Building Materials and Construction Solutions, where he was promoted twice in 7 years, ultimately leading HR for the company’s Los Angeles market, with $350M in annual revenues and 550 employees across 12 sites in the Los Angeles metro area.

Construction 52

Construction CFO Startups Finance 52

PYMNTS

SEPTEMBER 24, 2020

Construction companies rely on a variety of subcontractors and suppliers, but paying these partners can quickly become complicated for companies that use paper-based, manual methods to accept and manage all the documents that must be collected before issuing funds. Find the full story in the Report.

Construction 107

Construction Accounts Payable B2B Pharmaceutical 107

PYMNTS

SEPTEMBER 23, 2020

New tests may help companies (and regulators) determine who is an independent contractor — and who is not. Department of Labor would offer guidelines and “tests” that would help define whether workers are independent contractors or employees. To that end, a new proposal by the U.S. millennials identified as gig workers.

Profit and Loss 56

Profit and Loss Economics Construction Healthcare 56

PYMNTS

SEPTEMBER 24, 2019

This boom in popularity is partly because the overall cost of solar panels and installment is going down, making them a more sustainable option for construction projects. The [contractors] don’t have the [funds] to front the money,” Skraby said. Giliberto explained that the cards simplify contractors’ average on-site payments. “A

Construction 40

Construction Invoicing Cost Management Treasury 40

PYMNTS

JANUARY 5, 2021

Enterprise resource planning (ERP) company Unanet has rolled out a number of functionalities to add to its platform for architecture and engineering firms (A/E) in addition to government contractors (GovCons), according to a Tuesday (Jan. 5) announcement.

Construction 72

Construction Economics Numbers Finance 72

PYMNTS

APRIL 8, 2019

The rules come in the wake of Carillion ’s collapse in 2018, where the public sector contractor had owed as much as £2 billion to contractors when it went under. In another example reported by the FT , the aforementioned Kier, a construction and support services outsourcer, alerted 14,000 subcontractors that they would be charged 1.5

Construction 49

Construction Invoicing Transportation Economics 49

CFO Share

JANUARY 31, 2024

Manufacturing, transportation, distribution, real estate and construction are very financially complex and require a specialty fractional CFO. Get a feel for their style: Do they seem like a team player, or just a contractor? Here’s some tips for hiring a part time CFO: Look for an expert in your industry. Attend workshops.

CFO 52

CFO Forecasting Budgeting Construction 52

PYMNTS

SEPTEMBER 11, 2019

The bill, which passed the state’s General Assembly in early June , codifies a new three-tiered test to determine when a worker is more appropriately categorized as an independent contractor versus when they ought to be classified as an employee with all the standard benefits and protections.

Construction 65

Construction Leadership Technology 65

PYMNTS

DECEMBER 1, 2016

28) concluded that 55 percent of companies in the construction subcontracting industry feel powerless to influence the payment terms of their contracts with larger construction companies. The issue of late payments continues to impact this industry, despite earlier action taken by the Construction Leadership Council. ”

Construction 52

Construction B2B Profit and Loss Economics 52

PYMNTS

JANUARY 16, 2018

15) to news that construction conglomerate Carillion, based in the U.K., Carillion is the nation’s second-largest construction company involved in projects for schools, hospitals and prisons. It was a management company; it wasn’t a construction company or an infrastructure company.”. The global market woke up Monday (Jan.

Construction 40

Construction B2B Invoicing Leadership 40

PYMNTS

JANUARY 30, 2017

Buildertrend, which debuted in the halcyon days of 2006, before iPhones and Android devices ruled the world, is a cloud-based B2B platform for the construction industry. The company decided to build a tool using the latest technology to bring contractors a straightforward application that they could access from any computer at any work site.

Construction 56

Construction Securities Technology Invoicing 56

PYMNTS

JULY 27, 2018

specifically the Building Engineering Services Association (BESA) and the Electrical Contractors Association (ECA) — have stated this month that the overwhelming majority of councils are not, in fact, doing their jobs of making sure that suppliers are meeting the 30-day payment terms mandated by the three-year-old Public Contracts Regulations.

Construction 40

Construction Compliance Numbers Marketing 40

PYMNTS

NOVEMBER 16, 2018

Financial solutions provider Comdata is teaming up with Computer Guidance Corporation to integrate virtual card payment functionality for the construction industry. Computer Guidance Corporation offers cloud ERP solutions for the construction sector. On Thursday (Nov.

Construction 49

Construction Accounts Payable Reconciliations B2B 49

PYMNTS

NOVEMBER 14, 2017

construction. Separate research from the Federation of Master Builders (FMB) show two-thirds of small- and medium-sized enterprises in the construction industry are not paid within the standard 30 days. This isn’t the first time the late payment struggles of the construction industry have been highlighted. An Ongoing Challenge.

Construction 40

Construction B2B Invoicing Leadership 40

PYMNTS

DECEMBER 20, 2019

He told PYMNTS about his experience running payroll at a family-owned construction business, a process he described as a “weekly nightmare” that took up entire days sorting through time cards, processing payroll and managing workers’ compensation reporting.

Auditing 52

Auditing Construction Compliance Startups 52

PYMNTS

SEPTEMBER 20, 2019

construction market is on track to reach $1.8 In order for construction firms, contractors and subcontractors to succeed in this market, projects must be completed on time and within a fixed budget. Keeping track of cash flow and spending will be essential for construction firms that are active in the growing market.

Construction 46

Construction Treasury Invoicing Budgeting 46

PYMNTS

FEBRUARY 8, 2017

The February Faster Payments Tracker™ highlights what companies in industries from finance to construction are doing to adopt faster payments solutions. For example, faster payments solutions are putting a new tool in the construction worker’s tool kit. But it can help contractors and subcontractors get access to funds faster.

Construction 49

Construction B2B Securities Finance 49

PYMNTS

AUGUST 16, 2019

Late payments are a headache for any industry, but the construction sector has seen some particularly detrimental effects from cash-flow bottlenecks. the collapse of construction conglomerate Carillion pulled back the curtains on the corporate’s B2B payment practices. In the U.K.,

Construction 50

Construction Communication Invoicing B2B 50

PYMNTS

JUNE 13, 2018

One could be forgiven for thinking that in construction, timely payments are crumbling, while in music, transactions are slowing in tempo. In the latest Construction Payment Report 2018 , released this past week by loan software company Contract Simply , data shows that late payments are taking a toll.

Construction 40

Construction Invoicing Leverage Securities 40

CFO Talks

MARCH 2, 2023

Komatsu Africa supplies mining, construction, earthmoving and utility equipment in Southern Africa. Ehsaan, I’ve seen many of Komatsu’s excavators, bulldozers and dump trucks at mining and construction sites. It’s quite a big business and operates from a R1.3 billion industrial complex in Johannesburg. Ehsaan is a Chartered Accountant.

Auditing 98

Auditing CFO IFRS Construction 98

PYMNTS

APRIL 23, 2019

construction giant Carillion, the case continues to make headlines. The case pointed a spotlight on the construction industry’s struggles with timely vendor payments, and the financial consequences that delayed and late payments can have not only on a supplier base, but also on the corporate customer. construction sector.

Construction 49

Construction B2B Invoicing Accounting 49

PYMNTS

MAY 10, 2018

s largest contractor, construction conglomerate Carillion , new data shows a major spike in the number of construction companies facing financial struggles. Nearly three-quarters of the 400 small construction businesses surveyed are facing severe financial challenges. Following the collapse of the U.K.’s

Construction 41

Construction B2B Numbers 41

PYMNTS

JANUARY 19, 2017

Corporate payments company Optal struck a new partnership to streamline B2B payments in the construction sector. 18) said Optal is collaborating with Open ECX , a digital transaction platform for the construction industry, via its WebContractor tool. General Manager Andy Downes said construction is a critical component of the U.K.

Construction 43

Construction B2B Reconciliations Invoicing 43

PYMNTS

NOVEMBER 5, 2020

Manual, paper-based payments and processes can cost construction firms $50,000 a year, says Jeff Freese, controller at commercial wall-system contractor Nevell Group — and why virtual cards appeal to chief financial officers who want to digitize the process and pay suppliers faster.

Construction 56

Construction Invoicing B2B Sales 56

PYMNTS

APRIL 15, 2020

Drilling down into the details, the biggest subsector to get funding to date – measured as a percentage of gross dollar value of approved loans – was construction , at just under $34 billion dollars, representing 13.7 Applications are being taken through the end of June. percent of the total to-date tally.

Numbers 80

Numbers Manufacturing Construction Retail 80

PYMNTS

SEPTEMBER 9, 2019

The law in question is Assembly Bill 5, a measure that would reclassify many gig workers in the state – Uber and Lyft drivers in particular – as regular W-2 employees instead of as 1099 independent contractors (their current designation). That ruling echoes a 2018 decision from a federal judge. They’re violating Dynamex as it is.

Construction 48

Construction Startups Securities Investments 48

PYMNTS

JULY 1, 2019

In Scotland, analysis turns the spotlight on the construction industry, while new research from accounting company Xero points to the struggle that small businesses face when getting paid late. Late payments know no boundaries, and can impact companies of all sizes, industries and geographies — whether in the private or public sector.

Construction 44

Construction Invoicing B2B Accounting Firms 44

PYMNTS

JANUARY 19, 2021

He pointed to distribution companies and hardware retailers that, before the pandemic, had been servicing contractors and construction firms at in-person storefronts. "A great example would be buy online, pick up in-store," noted Bachalli.

B2B 110

B2B Marketing eCommerce B2C 110