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Webinar: Technology and Construction Credit Management

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Information about Webinar: Technology and Construction Credit Management
Technology

Published on October 1, 2014

Author: zlien

Source: slideshare.net

Description

Accompanying Webinar: http://hub.zlien.com/technology-and-construction-credit-management-webinar

Is Construction Keeping Up With Technology?

New technology platforms are springing up to assist the construction credit manager, but the construction industry has been slow to adopt. These technologies are making it easier to manage the construction credit management process and are opening up different avenues to payment recovery.

This webinar will take a look at some of the new technology platforms available to the industry and how they may help in construction credit management.
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1. Technology and Construction Credit Management

2. Construction Credit Knowledge Every Wednesday 1pm CST Signup At: http:// www.zlien.com/ credit-academy/ webinars/

3. PAY WHEN PAID PAY IF PAID JOINT CHECK AGREEMENTS BANKRUPTCIES DELAY DISPUTES & DAMAGES There are a lot of reasons why getting paid is tough in your industry WORKMANSHIP DISPUTES CHANGE ORDERS SCOPE OF WORK ISSUES CODE INSPECTION VIOLATIONS PREVAILING WAGES

4. NO COMPREHENSIVE TECH SOLUTION PAY IF / WHEN PAID JOINT CHECK AGREEMENTS BANKRUPTCIES DELAY DISPUTES & DAMAGES WORKMANSHIP DISPUTES POOR TECHNOLOGY ADOPTION SCOPE OF WORK ISSUES CODE INSPECTION VIOLATIONS CHANGE ORDERS

5. Managing Projects, Securing Debt, Tracking Deadlines and Timelines, Managing Relationships & Contact with Customers . . .

6. THIS CAN ALL BE MADE EASIER WITH APPROPRIATE TECHNOLOGY

7. Why are Construction Industry Companies Slow to Adopt New, Helpful Technology?

8. Not only does the use of available technology assist with the financial management process, but the FAILURE to adopt technology can have dramatic consequences.

9. Not only does the use of available technology assist with the financial management process, but the FAILURE to adopt technology can have dramatic consequences. 1. Falling Behind Competitors with respect to tools used.

10. Not only does the use of available technology assist with the financial management process, but the FAILURE to adopt technology can have dramatic consequences. 1. Falling Behind Competitors with respect to tools used. 2. Irrelevance

11. Not only does the use of available technology assist with the financial management process, but the FAILURE to adopt technology can have dramatic consequences. 1. Falling Behind Competitors with respect to tools used. 2. Irrelevance 3. Inability to compete in the marketplace

12. Sometimes standing out is a good thing - but you don’t want to be the last one to adopt a “game-changing” technology. DON’T BE THE ONE LEFT STANDING WHEN THE MUSIC STOPS

13. EXAMPLE: Think all the way back to the ‘90s . . . There was this new thing primed to revolutionize the world, business and otherwise.

14. The INTERNET More than a series of tubes, the internet revolutionized business practices - construction included. Nearly every company has at least SOME web presence today. ! And late adopters were put at a sever disadvantage.

15. Current State of Tech Use in Construction 29% of Companies use some cloud-based accounting software

16. Current State of Tech Use in Construction 29% of Companies use some cloud-based accounting software Most Companies use software programs that don’t communicate with each other

17. Current State of Tech Use in Construction 29% of Companies use some cloud-based accounting software Most Companies use software programs that don’t communicate with each other Construction Companies spend 25% of what other industries spend on technology

18. But is the Technology used by Financial Managers in the Construction Industry even really Helpful Technology? According to a survey by JBKnowledge, Inc., 85% use Accounting Technology . . .

19. But is the Technology used by Financial Managers in the Construction Industry even really Helpful Technology? According to a survey by JBKnowledge, Inc., 85% use Accounting Technology . . . But 1/3 of those are only using Microsoft Excel

20. But is the Technology used by Financial Managers in the Construction Industry even really Helpful Technology? According to a survey by JBKnowledge, Inc., 85% use Accounting Technology . . . But 1/3 of those are only using Microsoft Excel The same survey found that only 21% use Client Relationship Management (CRM) Technology, and guess what . . .

21. But is the Technology used by Financial Managers in the Construction Industry even really Helpful Technology? According to a survey by JBKnowledge, Inc., 85% use Accounting Technology . . . But 1/3 of those are only using Microsoft Excel The same survey found that only 21% use Client Relationship Management (CRM) Technology, and guess what . . . 1/3 of that 21% are only using Microsoft Excel

22. Excel was also the most popular response for what a company used to transfer data between software applications that don’t integrate or communicate with each other

23. I’ve Got an Idea The Construction Industry is TOO RELIANT on Excel And that is causing problems

24. Microsoft Excel is a great program - so why is it the wrong tool for Construction Financial Managers????? * It’s too general

25. Microsoft Excel is a great program - so why is it the wrong tool for Construction Financial Managers????? * It’s too general * It’s not collaborative

26. Microsoft Excel is a great program - so why is it the wrong tool for Construction Financial Managers????? * It’s too general * It’s not collaborative * Its use results in multiple spreadsheets saved all over with no ability to tie that data together.

27. Microsoft Excel is a great program - so why is it the wrong tool for Construction Financial Managers????? * It’s too general * It’s not collaborative * Its use results in multiple spreadsheets saved all over with no ability to tie that data together. * Sometimes there is too much data or information to be reliably and consistently tracked using a spreadsheet

28. WHAT ARE THE ALTERNATIVES? Different alternatives depending on function, e.g. Accounting: Sage Quickbooks Viewpoint Oracle Maxwell Systems Jonas etc. . .

29. The Answer is the Cloud

30. What benefits come attached to cloud-based technology?

31. Don’t need (most of) your traditional IT workers If they are still talking about Microsoft certification, server rooms, etc. – it’s time. You don’t need them anymore. Software companies are your new IT workers. They manage the servers, the software updates, and usually, technical support. All you need to do is start your company and go to their website. This is a very large benefit. Connect Your Products Through APIs, Web Services, and More Don’t ever do double data entry again. Also, don’t export data from one system and import it into another. Forget how to use the extensions .csv and .xls. Your systems can very easily talk to one another when you use cloud based technologies. Data will flow between applications without much technical effort at all. Invest in that technical effort. Log in from any device, anywhere You don’t need VPNs, server access, certain operating systems, or anything like that. All you need is the internet. If you have the internet and that’s all, and you can’t access your systems, something is wrong. Pretty Things Stop using ugly software. It’s hurting your ability to do things correctly, and nobody want to look at it to use it anyway. Web based technologies are pretty - and that translates to more, and better, use.

32. Questions? Feel free to think it over and Ask Me Later nate@zlien.com

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