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Supply Chain Finance in Construction: Solving the Working Capital Challenge

Examine the difficult financing landscape for subcontractors and explore how supply chain finance (SCF) programs can address these challenges, providing benefits for both general contractors and subcontractors.

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2030 Construction Forecast Report

The ever-changing construction landscape can be uncertain at times. The latest Global Construction Perspectives report, with support of Textura, aims to provide clear and valuable insights surrounding the overall health of the global economy and how key drivers are expected to impact growth in certain markets.

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Four Secrets to Pain-Free Payment Management

The challenges that are inherent to the construction payment process — time spent exchanging documents, inaccuracies, delayed payments and miscommunication — are possible to overcome with the right tools. Discover the secrets of how contractors are using cloud-based payment management software solutions to eliminate up to 50 percent or more of the time they spend on their payment process and by using these practices are able to get paid up to two weeks faster!

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Learning from Experiences of the Past — Turning a Crisis into an Opportunity

While the economic outlook is starting to look a little brighter, nearly all businesses continue to face unprecedented amounts of uncertainty about the future. This anxiety is even more acute in the construction industry where financing remains tight and investment delays mean projects are slowed or cancelled outright. Learn the lessons that every contractor should know to help survive and succeed within the next few years as the economy stabilizes and improves.

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Communicate, Collaborate and Access — The Key Ingredients for a Successful PPP

Public-Private Partnerships (PPPs) are the most complex form of construction alliances. Partners are often working together for the first time, and there is frequently a difference in the way processes are performed. Perhaps the most complex aspect of a PPP is that each partner already has his/her own capabilities in place to handle the financial and operational aspects, and each has a reasonable expectation of having access to that information in real time. However, there are ways to help make a PPP more successful, and we've identified the key ingredients to improve this alliance.

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Leveraging the Power of a Scalable Platform — Making IT Costs Variable

Despite the continuing U.S. economic rebound, the construction industry remains challenged by lingering uncertainty. While downsizing has abated in most parts of the industry, there is little incentive to invest in new hiring even when backlogs and new business pipelines start to improve. Although few companies would take on new work without sufficient project management staff, labor supervision or client-facing personnel, there is a reluctance to hire additional back office staff that may not be needed later. Find out what a contractor can do to manage the ups and downs inherent to the construction industry and exacerbated by the economy.

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Developing an Organizational Approach to Risk Using Technology — Real-Time Risk Management

Today’s construction market brings no shortage of challenges. Obtaining new and adequate amounts of work has never been more difficult. Risks seem to be stacking up, such as less qualified subcontractors, unknown exposure to new subcontractors, difficulty in owner financing, tightening surety underwriting, less contingency, margin competition and tougher contract terms. Find out what contractors can do to work around these challenges.

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Process Mapping in Construction

One tool that contractors can use to create both consistency and efficiency is process mapping, giving them the power to make something that generally exists only in the minds of the participants, tangible and viewable. Sometimes the act of simply viewing a process from end to end will allow the participants to spot areas of risk, inconsistencies or simple redundancies and may also reveal an obvious opportunity to use technology to automate or eliminate process steps. Find out more about how process mapping can help your organization.

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Understanding General Contractors' Perspective on Default Risk and Subcontractor Qualification

It is more important than ever for general contractors to safeguard construction projects and owners against default risk. Consequently, more general contractors are requiring subcontractors to undergo rigorous qualification processes before awarding work — or even accepting bids. Learn how general contractors can better manage default risk — and how subcontractors can position themselves for success in a changing landscape.

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Managing the Qualification Process to Win Better Work

As the general and construction economy recover, the industry is facing new challenges. Just as margins begin to move upward, many subcontractors find their balance sheets and lines of credit stretched more than ever. General contractors and owners are well aware of the risks presented by weak subcontractors and are demanding more thorough qualification information. This creates additional burden on both strong and weak subcontractors already feeling the stress of high levels of competition and still historically low margins. Learn how subcontractors can turn the qualification process from a burden to a competitive advantage.

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Mitigating the Risk of Subcontractor and Supplier Default

During the current economic recovery, construction bid prices have stabilized, but it is largely a “marginless recovery,” where profits are not strong enough to help companies return to healthy balance sheets. Contractors had to use up cash reserves to stay afloat during the downturn, and the high margined backlog has dried up. The current low-margin work means diminished cash flow and reserves, leading to a much higher risk of defaults. It is now more important than ever to safeguard projects and owners against default risk. Learn five essential approaches to mitigating default risk.

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Bidding in the Cloud: Five Guidelines to Manage Construction Bidding Online

Cloud technology offers numerous benefits for companies looking to simplify and streamline the massive information exchange that occurs during the invitation to bid and other preconstruction stages of a project. By using cloud technology, subcontractors and general contractors can collaborate on a common platform in real time, reducing steps, errors and delays — all without the costs of installing and maintaining new technology systems. But before you adopt, read these five guidelines.

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Five Fundamentals for Efficient Project Communication

Delays at any stage of a construction project can be frustrating and costly — and potentially damaging to business relationships. While some delays are outside your control, taking steps to ensure effective and efficient communications can help minimize key factors that can put projects behind schedule. Learn how construction technology can help enable greater collaboration, automation and visibility — and save you time and money.

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