How to Spot a Cash Flow Problem

1. Buildertrend

If you’re looking for a project management system tailored specifically to the Construction industry, look at Buildertrend. Delayed projects cost money, so their schedule management and ability to easily communicate with subcontractors will help to keep things on track. By putting all of your project data in one place, Buildertrend gives you real-time visibility over timelines, budgets, and communications. This will result in fewer delays, less downtime, and more control over your project’s bottom line.

2. Sage Accounting

Perhaps one of the most well-known accounting systems in the world, Sage has become a go-to tool for small to medium-sized businesses to manage cash flow. Sage makes automating invoices, tracking expenses, and staying on top of VAT compliance easier. By connecting directly with your bank, it means you can monitor cash flow in real-time, which is perfect for when you’re out on-site and away from the office. They’ve done a good job making the app easy to use without overwhelming and complicated processes.

3. Procore

Procore is popular for construction firms looking to bring their teams and workflows together on the same platform. The app is designed to reduce miscommunication between site and office staff and keep everyone on the same page. Procore brings your site and office staff onto the same page. It also has built-in budgeting and cost-tracking tools, making staying within project budgets easier and avoiding nasty surprises. Procore has many helpful tools to handle everything in one place and keep projects within budget, from quality and safety checks to document management and invoicing.

4. Tradify

If you’re looking for a no-fuss app to manage quotes, jobs, and invoices, Tradify is a great option. The best part of this app is that it keeps all job details in one place, making it easier to track progress, keep clients informed, and send accurate invoices. Tradify also integrates with accounting software like Xero and QuickBooks, so your cash flow records stay up-to-date without manually updating multiple systems. The app’s automated payment reminders help clients pay on time, which is key to improving cash flow and enables you to avoid frustrating unpaid invoices that slow down the business.

5. Float

Having a healthy cash flow is one of the biggest challenges for construction businesses. Unpredictable project timelines, weather delays, and staggered payments make it difficult to stay on track and plan for the future. Float can give a clearer picture of finances with easy-to-understand projections so construction companies can see potential shortfalls before it’s too late. You can quickly access predictions on how much a new project might cost and how you might be affected financially by material cost rises and other expenses that impact cash flow.