Fall 2011 issue of Horizons

Contractors

Technology Efficiencies and Process Improvements for Contractors By Frank Hogg, CPA & Matt Finke, CPA

More competitive bids… Less backlog… Increasing costs of construction… Lower profit margins… For every contractor in the construction industry, these terms have resonated throughout the marketplace the last several years. And with economic pundits continually pushing back the projected economic recovery period for construction, the prospect of maintaining

With the current market for construction being very competitive, many companies have focused on cost-cutting measures. This includes focusing on G&A overhead expenses or attempting to lower their costs of construction. In addition to these cost-cutting measures, contractors should also consider investing in technologies and process improvements that can assist them in being more competitive in the marketplace. In this type of environment, with many companies focused on making tough, economical decisions before writing checks, priorities related to investing

acceptable levels of profitability remains challenging for the foreseeable future.

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