Construction is a fragmented industry. Increasingly complicated supply chains and build programmes can make understanding what is happening at each stage a difficult task.
Internal data from one stage of a project can hold much greater value when exchanged with other operations. Capturing data in this way will provide more insight into the performance of the built environment. This should lead to a reduction in waste, both in time and money.
- Topic:
- Construction
In uncertain and challenging times, construction firms are under significant financial stress, so having access to accurate, reliable and up-to-date information is vital in helping construction project teams react and adapt to often quick and ever changing conditions on site.
- Topic:
- Construction
Ensuring finance departments are being utilised to the best of their ability and using the most up-to-date systems is key for good financial management.
Best practices in 2022 might look a little different for finance teams even to just a couple of years ago. According to Accenture in February 2021, 79% of CFOS surveyed said that the effects of Covid-19 have compelled them to ramp up their finance transformation efforts.
So it's clear the effects of the pandemic has led to finance teams reflecting on what good practice looks like and considering what changes need to be made.
In this blog, we discuss the best practices a top finance team should follow, what makes a good finance team and why switching your accounting software could empower a finance team to make a real contribution to overall business goals.
- Topic:
- Finance
Well, the information required to fulfil both, construction tenders and estimate functions is essentially the same throughout the whole bidding and construction process.
From preparing invitations to subcontractors or suppliers to tender or to calculate running costs. Quantity Surveyors rely on construction software applications that give them full visibility and control over the financial elements of the construction process.
- Topic:
- Construction
Toothbrushes, paper bags, razors, tissues… some things are no longer fit for purpose as time goes by. The same is true of software — particularly when it’s managing your business.
With millions of hours wasted on financial admin tasks every year*, the risks of outdated software operating in a modern finance team are huge. But why? Keep reading to find out more…
- Topic:
- Finance
In response to the effects of the Covid-19 pandemic, many SME businesses in the UK have now set out their hybrid working policies, enabling employees the freedom to choose where they work best either all the time or at least some of it.
According to research, 71% of SMEs plan to implement hybrid working long-term, though many of those may not have considered the new challenges that may arise for finance professionals – especially when tracking expenses. Clear hybrid working policies and investment in technology to manage budgets will be needed.
- Topic:
- Finance
Not-for-profit and charitable organisations in the UK have faced an insurmountable number of challenges in the last 16-months – facing an estimated £10 billion loss at the close of 2020. Despite many being used to operating on a shoe-string, Covid-19 brought about changes that affected the sector like never before.
While many have continued to lose revenue through a lack of available support, there are a number of organisations that have adapted and pivoted services in order to keep their charity’s finances afloat. So, how can other charities follow their lead and ensure their funds go further?
- Topic:
- Finance
For finance professionals working in a professional services business, time is often the biggest restraint that stops them from focussing on value added-responsibilities, such as analysing financial data to provide more realistic, more accurate forecasts of how projects impact the business. Or spending time developing key financial policies that can influence other teams across the business to be more cash conscious, which could help to reduce ongoing project costs.
- Topic:
- Finance
How tightly does your business monitor every cost, every expenditure, every charge, every business expense? With the right tools in place, it’s easy to keep a close eye on everything and to spot problems quickly – you can also get a much clearer view on the bigger picture too. That’s the ideal – but for many businesses, it’s not so clear cut. In this article we explore the areas where money is potentially being lost.
- Topic:
- Finance
After a turbulent 2020, many professional services firms and project-oriented businesses are considering whether fundamental changes must now be made in order to leverage the most potential from 2021. Read on for some fresh thinking on reshaping your business.
- Topic:
- Finance
