Blog
Iannuzzi Manetta shares news, articles, and important tax and accounting related information. To receive our communications via email, sign up (We will not use your personal information for any other purpose as outlined in our Privacy Policy.)
How Construction Companies Can Prevent Supply Chain Fraud
Most contractors are all too familiar with everyday supply chain headaches like late deliveries, stock shortages, and incorrect orders. However, a less visible but far more costly threat exists within the logistics chain: supply chain fraud. The sheer volume and rapid pace of ordering, [...]
The Benefits of CRM Software for your Construction Company
In technological parlance, “digital transformation” refers to many businesses’ ongoing efforts to digitalize all their processes. One area of your construction business you may have yet to digitally transform is how you manage contact information related to customers and other parties. For many years, [...]
The Power of Preconstruction
When most people think about construction, they likely picture a busy jobsite bustling with workers, heavy equipment and trucks delivering materials. But those in the business know that the success of most projects is often determined before a single boot hits the jobsite. That’s [...]
The state of modular construction
Simply defined, modular construction involves manufacturing building components called “modules” off-site in a factory then transporting those components to the jobsite for assembly. According to Mordor Intelligence, the modular industry’s market share in North America (currently at 78.91% of the overall market) has a [...]
Keeping up with fast-track construction projects
Pay close attention to the contract For any project, having a well-negotiated contract that defines the scope, responsibilities, requirements and costs associated with each job phase is paramount to protecting your financial interests. But it’s especially important with fast-track jobs, so be sure [...]
Pondering the possibility of sale-leaseback financing
Intense cash flow challenges characterize the construction industry. Generally, construction companies don’t get paid until a project or job phase is completed — and subcontractors may have to wait even longer. If a project has stalled, what do you do? As a result, there [...]
Why WIP Schedules are so Wonderful
Financial statements tell an important part of your company's story, but they only reflect past performance. Lenders, sureties, and other stakeholders often want a more current view of how projects are performing today. That's where work-in-progress (WIP) schedules add value. By tracking active jobs, [...]
Protect your company with a retainage reserve
Financially sound construction businesses often rely on cash reserves to protect against emergencies, unpredictable economic conditions and the industry’s cash flow challenges. If your company regularly encounters the negative consequences of retainage, consider establishing a dedicated retainage reserve. It can provide financial relief when [...]
Wrangling with the Reality of Retainage
Retainage has long been a contentious practice in the construction industry. Unfortunately, it appears unlikely to disappear anytime soon. The good news is that by recognizing and planning for the negative impacts of retainage, you can reduce the risk to your business’s financial performance. [...]
The project has stalled: What you should do
Stalled construction jobs are far from unusual. Late last year, software developer ConstructConnect’s Project Stress Index indicated that private projects put on hold had more than doubled over the preceding 12 months, rising 98.2%. If a job you’re working on stalls, make sure your [...]