Skip to main content
December 7, 2020 - 10:29am

Article written by Gallit Itzhaki on the Viewpoint blog

According to a recent U.S. Bank study, 82% of businesses that failed noted sagging cash flow as a leading indicator.

If you’re a construction financial professional, you know how true this rings, as a strong cash flow is the key to keeping your company’s doors open and projects moving. If your cash flow dries up, it becomes extremely difficult to take on new projects — where up-front costs are almost always a significant part of the construction workflow.

Manual Processes are Draining Your Cash Flow

As the construction industry, and the world around us — modernizes, it’s becoming more important to ditch manual billing and cash management processes. Here’s why:

If the right people never seem to have access to review the right invoices or bills at the right time and it’s hard to tell if a bill has been approved, then how accurate is your cash flow?

Of course, this can be solved by allowing secure, real-time access to approvers who can view and quickly “OK” a bill and send it to the appropriate parties. Additionally, giving your entire project teams the instant visibility they need to see billing status and any changes made is key to faster, more accurate billing, increased project productivity by keeping work on projects moving, and, ultimately, stronger and more reliable cash flow for your organization.

But how do you know where to start with modernizing your billing and cash flow processes?

A unified construction management system helps your organization collaborate and adjust billing needs as necessarily due to improved transparency. Faster billing processes means higher profit margins, reduced project risks and a stronger cash flow.

On-Demand Webinar: Learn how to Gain Control of Cash Management & Forecasting in Difficult Times.

What Our Clients Say

"Beth is absolutely wonderful to work with! I appreciate her patience and professionalism. It’s a relief to know I can count on her to respond and be a life line for us as we continue to learn the system. She is truly top notch."

Eastbound Mechanical

"I wanted to let you know Dan did a great job. He has a vast amount of knowledge, and I feel very fortunate to be working with him."

H.F. (Mechanical Contractor)

"We appreciate Tim and all of his excellent support."

M.J. (Manufacturing Firm)

"Kristen is a very valuable resource for us!"

LCI-Lineberger Construction Inc.

"I want to let you know how grateful we are for Robert Pacheco’s assistance. He was able to meet with me and discuss the issue promptly and complete the fix within a short amount of time. He is surely an asset, and we are thankful to have such a great resource."

Marques General Engineering, Inc.

"Greg is terrific, and I’m so excited to have a better resource! I have him working on several projects now with many more to come."

Progressive Plumbing

"Michael and Matthew have exceeded my needs and expectations. I get help same day 95% of the time, which is very important in my business at times. They are professional and courteous 100% of the time. Zero complaints."

Mitchell Brothers

"It’s a pleasure working with Robert. He's very patient, knowledgeable and goes far beyond to help with any issues we have as a company or as an individual."

HL Contractors

"The level of service CDP provides is exceptional and always far exceeded my expectations. You can quote me on that!"

The Wesson Group LLC

"He did a great job online and an equally great job in person. We’re enjoying working with our new Spectrum Viewpoint accounting software."

Chambliss & Rabil Contractors, Inc.

"Thank you for your assistance/responsiveness to assist us in getting P6 back online so quickly today. We appreciate all the support you provide."

M.J. (Manufacturing Firm)