Tag: financial
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Deltek adds AI for proposals, risk management and financial close
Deltek Proposals brings AI-generated proposal creation directly into Costpoint and Deltek Vantagepoint. By automating solicitation analysis, compliance mapping, and first draft creation, Deltek Proposals is designed to help reduce proposal creation time by as much as 60%-70%, based on internal projections and AI automation benchmarks, the developer stated. View the original article and our Inspiration here
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Palfinger Launches Financial Services Program for U.S. Equipment Buyers
Palfinger has launched Palfinger Financial Services, a new program that provides financing options for businesses purchasing its cranes, hooklifts and truck-mounted equipment in the United States. The program offers a streamlined online application process, with credit decisions available in one to two hours and funding typically within 24 to 48 hours. Businesses can bundle installation…
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The Hidden Cost of Financial Insecurity in the Construction Workforce
Walk onto any construction site, and you’ll see skilled professionals building the infrastructure that shapes our cities. But behind the hard hats and steel-toed boots, many of these workers are fighting a different kind of battle—one that doesn’t involve heavy machinery or tight deadlines. It’s the constant struggle of financial insecurity, and it’s costing the…
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Prepare your accounting infrastructure for what’s next: lean financial operations
According to AGC’s 2024 Construction Hiring and Business Outlook report, many contractors anticipate robust growth this year. That could mean more bids, bigger projects, and increased demand for your services. But a hidden barrier, rooted in outdated accounting practices, could prevent you from capitalizing on this trend. Outdated systems are a strategic liability. Manual processes,…
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How SMART Goals Change Your Financial Mindset
When it comes to managing money, most of us start with good intentions. We say things like “I want to save more” or “I’ll pay off my debt this year,” but these vague goals often fade fast. The truth is, without a clear plan, it’s easy to fall back into old habits. This is especially…
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How Construction Firms Can Build a Strong Financial Roadmap Amid Rising Costs and Growth
As your construction firm navigates today’s economic landscape, the $1.2 trillion public infrastructure bill, passed a few years ago, continues to carry both promise and uncertainty. Nevertheless, the domestic procurement preferences and materials sourcing requirements tied to this legislation still hold the potential to create meaningful growth opportunities. That said, it’s crucial to be prepared…
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Delegated Design in Construction: How to Avoid Legal and Financial Risks
Design delegation has become increasingly prevalent in modern construction, encompassing everything from curtain wall systems to precast panels and fire protection layouts. Contractors and specialty subcontractors are frequently expected not only to construct but also to assume responsibility for portions of design. While this model can enhance project efficiency and delivery, it introduces legal complexities…
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How Construction Companies Are Replacing CFO Turnover with Team-Based Financial Leadership
In today’s construction industry, uncertainty is a constant. Volatile material costs, protracted billing cycles and razor-thin margins place significant strain on management teams. For many mid-sized subcontractors and GC’s, an emerging challenge is a revolving door in financial leadership – high turnover in the CFO role is creating a dangerous blind spot. Research shows that…
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Henderson Companies Hires New Chief Financial Officer
Henderson Companies is proud to welcome Penny Spence as chief financial officer (CFO). A 27-year finance veteran, Spence will oversee financial operations including budgeting, compliance, forecasting, reporting, and financial planning and analysis strategies for Henderson Companies and subsidiaries Henderson Engineers and Henderson Building Solutions. Spence most recently served as executive vice president – chief financial…
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Hospitality America Taps the Talents of Paul Isaacson as Chief Financial Officer
As Hospitality America accelerates its growth and prepares for the opening of multiple new hotel developments, the appointment of Paul Isaacson as Chief Financial Officer marks a critical strategic investment in the company’s future. His arrival comes at a pivotal time, as the organization sharpens its focus on scalable financial systems, enhanced forecasting, and investment…