Resource / Construction Budgeting
Detailed Construction Project Cost Breakdown [Examples Included]

Construction Blog

Detailed Construction Project Cost Breakdown [Examples Included]

Unexpected cost overruns and delays are the last things we expect when it comes to construction project cost breakdown. An unsettling nationwide trend shows construction projects often exceed their budget by at least 16%, thus highlighting the importance of detailed planning and estimation. To help you avoid such unwelcomed surprises, we have put together a […]

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Construction Invoicing: 5 Steps to Get Paid on Time In 2024

Construction Blog

Construction Invoicing: 5 Steps to Get Paid on Time In 2024

Last update February 2024 86% of construction professionals experience stress from slow payments and cash flow problems. This creates a chain reaction of financial hardship for the construction companies, resulting in reduced profits, project delays, etc. But hold on; why should this be the case? Getting your construction invoicing payments on time can be a […]

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General Contractor Markup 101: Everything You Need to Know

Construction Accounting

General Contractor Markup 101: Everything You Need to Know

Did you know that the average general contractor markup on labour is 25% and higher, and on materials, it can be as high as 50%? What does this imply for your business as a builder? Considering these average markup percentages, it’s essential to ask yourself: Are you charging enough to impact your profitability positively, or […]

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8 Buildxact Alternatives and Competitors to Try: Build Smarter, Not Harder!

Construction Blog

8 Buildxact Alternatives and Competitors to Try: Build Smarter, Not Harder!

Are you in search of Buildxact alternatives to delve into the uncharted territories of construction project management? While Buildxact may be a go-to solution for some industry players, sometimes even the most reliable tool in our digital toolbox needs an upgrade.  To help you find the perfect match for your project management, we have assembled […]

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Construction Allowances 101: 4 Effective Practices for Budget Management

Construction Blog

Construction Allowances 101: 4 Effective Practices for Budget Management

One of the most desired situations for any builder is to have an estimated budget as close to the true cost as possible. The more accurate the planned budget, the easier and faster project completion will be. However, the construction industry is all about uncertainties and unexpected things popping up during the project. So, it’s important […]

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Construction WIP (Work in Progress) Report | The Easiest Way to Create It

Construction Blog

Construction WIP (Work in Progress) Report | The Easiest Way to Create It

At some point, construction project management becomes a complex and expensive task. As the project evolves, keeping track of your finances every step of the way is crucial. An older report provided by McKinsey claims that larger projects typically take over 20% longer to finish than the scheduled timeframe. This leads to cost overruns that […]

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Comprehensive Guide to Construction Budgeting | Must-Have Tools

Construction Accounting

Comprehensive Guide to Construction Budgeting | Must-Have Tools

Construction project management requires careful planning and execution to achieve the desired results. While most short-term projects may not require a detailed construction budget, for anything more complex, precise budget planning is a crucial step that can make or break the project. What’s all the fuss about? Construction budgeting is not as simple as allocating […]

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