March 2015 Cover
Know which construction insurance focus areas to watch in 2015
With the start of a new year, the construction insurance market is showing signs of ambivalence from most insurers. Insurance underwriters will likely focus on keeping existing clients happy (through pricing flexibility, broad coverages and service commitments), while simultaneously trying to grow...
Why making the move to SaaS is a necessity
Many industries have been hesitant to adopt software-as-a-service (SaaS) enterprise solutions, and the construction vertical is no exception. The construction software marketplace is chronically underserved and the benefits of cloud-based platforms underleveraged. Team projects require...
Facts to consider when deciding to convert your fleet's fuel source
Converting your fleet to natural gas with future truck purchases is a significant, business-altering decision. While diesel prices have fallen to their lowest level since 2010, compressed natural gas (CNG) and liquefied natural gas (LNG) are still less expensive. Companies are measured by the...
Understand the benefits and risks associated with this new payment option
Our world is becoming more and more electronic, and people are becoming increasingly accustomed to paying for goods and services with the swipe of a plastic card. Employers and even some employees are beginning to consider pay cards an attractive payment option. A pay card is a stored value card...
Contractors can increase productivity, savings and sustainability with this new energy storage solution
In the construction industry, required industrial equipment can be costly. Expenses can branch beyond the initial cost of machinery. Fuel and maintenance costs can be high and unpredictable, and money and time are often lost when work is delayed due to equipment failure. In order to achieve a...
Facilitate credible bonds between contractors and project owners
Recent economic news has been mostly positive. The stock market is at an all-time high, the unemployment rate is at its lowest level in years and the price of oil is in a free fall, which has the effect of putting more dollars in consumers' pockets both directly (through lower prices at the pump)...
Help employees reach their full potential to maintain a skilled and safe workforce
The shortage of skilled labor in the construction industry is one of the key issues discussed by trade associations, government agencies and individual contractors. While much of the conversation has focused on the need for more craft workers, much less attention has been paid to a potentially...
Filing taxes in 2015 requires a hard look into recent changes and deductions
After ending 2014 on an economic high note, business spirits, especially those of construction firms, are rising with the hopes of more economic prosperity in the new year. Jobs are growing, the government is taking steps to incentivize homeownership and the national building rate indicates a...
Follow these tips for better transactions in finding and working with subcontractors
Some construction firms, relieved to have made it through the lean years of the recent recession and eager to secure new business, are moving too fast when it comes to new construction. In this environment, legal requirements and compliance can sometimes be assumed rather than verified, especially...
Define your payment procedures, get paid and ensure cash remains king
Generating positive cash flow is imperative. Many contractors evolve from technical backgrounds—building construction, engineering or the trades—and may not start their businesses wired to think like a businessperson. Blindly submitting an invoice and forgetting about it until next month is hardly...
GPS fleet tracking solutions can help virtually manage many aspects of your business
As a construction business owner, your employees are rarely in the office. The nature of the work sends employees into the field for most of the day. This makes it extremely important that supervisors are able to quickly and easily communicate with employees. According to Aberdeen, 54...
Compact equipment attachments expand capabilities with smarter technology
One of the more visible examples of the compact equipment industry's momentum is the development of excavator and loader attachments. It wasn't long ago that attachment catalogs typically started with augers and ended with wheel saws, with dozens of task-oriented hydraulic tools in between....
Act now to accomplish your goals and get the business you want
After attending a time management workshop several years ago, I made a commitment to take charge of my construction company, put my priorities first and focus on building a business that works. Now, I focus my time on activities that produce the biggest return, delegate as much as possible to my...
A look at 3 major construction sectors and solutions to the problem
General contractors globally engage subcontractors for materials, labor and third-party services such as project management, and sustainable solutions. Many trades associated with construction face the issue of skill and manpower shortage and subcontractors around the world. The three main...
Emerging themes from the industry's largest annual concrete convention
The 40th Annual World of Concrete (WOC), held in Las Vegas, Nevada, featured seminars from top industry professionals, award shows, a fundraising auction and on-site exhibitors who showcased their products throughout the week. An impressive 55,779 professionals registered for World of...