Here are the nine most significant ways that plumbing businesses have told us that LiveCosts helps their projects stay profitable.
In a recent survey by KPMG, they found that just 31% of projects came within 10% of budget and just 25% within 10% of original deadlines in the past three years.
Materials management is one of the most time-consuming, labour-intensive aspects of any electrical project.
It’s not just construction materials that are experiencing record inflation – wage inflation is driving up the cost of projects across Ireland and the UK.
Why Do Construction Materials Costs Keep Going Up? It seems like materials costs are going up every single day. Across Europe, materials costs have reached a 40-year high – with many contractors not able to purchase some materials at all. During Covid, many supply companies didn’t just slow down – they went bust, and new […]
Inflation – What Does That Mean To A General Building Contractor? When you ask a Building contractor what is keeping them awake at night, the reason they will give you is almost always the rise in Inflation for Construction Costs and when it will end. They have good reason to feel anxious. The Construction Leadership […]
| 3 Min Read | Accounts Payable Doesn’t belong on Spreadsheets Accounts payable in construction refers to the money due to suppliers and subcontractors. It includes all types of costs, such as overhead, direct and indirect. The accounts payable function is processing, verifying, reconciling and paying invoices in an appropriate amount if time. […]
| 3 Min Read | Spreadsheets Can Hurt Your Profit And Ability To Track Costs Manual reporting isn’t just data entry, it’s collecting information, transitioning it into new formats such as graphs, Powerpoint and a PDF. It’s having to create formulas and templates. All of this wastes time. Construction cost management is hugely […]
| 3 Min Read | Managing Supplier Statements – 3 Easy Tips A construction company will receive both invoices and a statement at the end of each month from their supplier. Let’s have a look at the differences between the two and some tips on how to manage supplier statements and make sure that […]
| 3 Min Read | What Are The Benefits Of Using Purchase Orders on Construction Projects? A purchase order is a must for business management. It is a document that confirms an order for construction materials, sent from a buyer to a material supplier, equipment renter or subcontractor. When a purchase order is accepted, […]