By By FOUNDATION Software
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The podcast currently has 181 episodes available.
Effective communication is at the heart of any successful construction organization, and in this special episode of The Mobile Workforce Podcast, Mike Merrill and the team from Vantix Electric, including President John Hand, explore how leveraging communication tools can drive project success and foster a strong company culture.
The group focuses on how contractors can use digital solutions, like software such as Smartsheet and FOUNDATION® accounting software, to create a single channel for correspondence and data exchange, making it easier to keep the whole team informed and engaged.
Key Takeaways:
Create a Single Channel of Communication
The podcast highlights the importance of consolidating communication efforts to improve project management efficiency. Tools such as Smartsheet and FOUNDATION accounting software are showcased as key resources for organizing project data and facilitating seamless communication across teams.
Prioritize Work Ethic and Communication
A strong work ethic, resilience, and clear, open communication within teams are absolutely essential for not only achieving project success but also for effectively navigating and overcoming challenges as a cohesive unit. By fostering these qualities, teams can maintain momentum and ensure that everyone is aligned with the project's goals and timelines.
Learn from Mistakes
The group emphasizes the importance of reflecting on past mistakes and adopting a proactive mindset to address them. By thoroughly analyzing what went wrong and implementing strategic solutions, teams can prevent similar issues in the future, leading to continuous improvement in project management and execution.
Fostering Leadership and Personal Growth
The conversation also highlights the significance of nurturing leadership skills and personal growth within the company. Emphasizing these aspects contributes to long-term success and a thriving company culture because employees feel like they’re constantly working towards goals instead of stagnating at a certain level.
Join Host Mike Merril as he interviews CTO and Product Officer at Basys Chris Borchers and Executive Vice President of Partner Relations at Basys Kenny Thompson. They discuss the intricacies of payment processing systems and how businesses — especially in the construction industry — can save on fees and streamline their payment operations. They’ll dive into the steps involved in credit card processing, the evolution of payment technology and specific challenges faced by the construction sector. They also emphasize the importance of security measures like multi-factor authentication and PCI compliance.
Key Takeaways
• Explore the detailed steps involved in credit card processing, from the issuance of cards to the final funding stages.
• Discover how businesses can achieve cost savings through the optimization of their payment processing systems. • Understand how Basys's high Net Promoter Score (NPS) significantly enhances customer retention efforts.
• Learn the importance of seamlessly integrating payment systems with overall business operations.
• Discover how to implement critical security measures such as Multi-Factor Authentication
In this episode, join Host Mike Merrill as he talks with Pronovos President Bruce Orr about how leveraging precise project data, such as WIP reports and KPIs, can dramatically enhance profitability and operational efficiency in the construction industry. During the conversation, Bruce emphasizes the need for a cultural shift toward data-driven decision-making, highlighting how up to date information can guide construction owners to make more accurate decisions faster — therefore driving a transformation at the company.
Key Takeaways
• Accurate metrics are essential because they ensure that projects stay on track, minimizing risks and maximizing profitability.
• Identifying critical KPIs like projected final costs is crucial for contractors to monitor project metrics effectively.
• Training is essential in helping construction teams adopt and effectively use new technologies.
• AI is revolutionizing data processing in the construction industry by making project management more predictive and efficient.
• Advocating for greater transparency among contractors and subcontractors is key to improving collaboration and efficiency. By fostering open communication and data sharing, the industry can overcome traditional barriers.
Struggling with inconsistent project outcomes and cash flow in your construction business? We’re here to help. In this episode of the Mobile Workforce Podcast, Mike Merrill sits down with Bruce Orr, president of Pronovos, a leader in data-driven construction management solutions. Bruce shares his journey and insights into how construction companies can leverage data, specifically through tools like WIP reports, to protect profits, streamline operations and ensure project success. Whether you're facing challenges with project reviews or looking to implement AI in your workflows, this episode offers practical advice and strategies.
“I think that the importance of dashboards can't be understated and KPIs can't be understated, but I also think that you have to understand where your organization is to be able to implement them,” Bruce Orr said.
Join Mike Merril as he chats with Bruce Walt, Partner at HORNE, about the significance of understanding generational differences in the workplace, particularly in the construction industry.
He breaks down the characteristics of six generations, emphasizing how technology and major events shape their behaviors and expectations.
The conversation highlights the importance of integrating technology in work processes, offering flexible work schedules and fostering inclusion to attract Millennials and Gen Z.
Walt also underscores the need for health and well-being programs to support workers, noting that addressing these areas can lead to greater employee satisfaction and retention.
Key Takeaways
· Understand the unique characteristics and formative experiences of different generations (Silent Generation to Polars).
· Technology drives individualism and alters workplace dynamics, necessitating its integration in modern work environments.
· Flexibility in work schedules and environments is vital for younger generations.
· Emphasizing inclusion and diversity is essential for future workforce success.
· The importance of physical and mental health initiatives in improving workforce satisfaction and productivity.
Are you struggling to handle your multigenerational workforce? We’re here to help. Join us as HORNE Partner Bruce Walt delves into the unique traits of six generations and how technology shapes workplace dynamics. Learn why flexibility, inclusion, and health initiatives are key to connecting different generations and retaining younger workers.
“You gotta showcase your purpose,” said Bruce Walt. “How are we contributing to a greater good? That is particularly impactful to Gen Z. Millennials tend to be more about the individual, but Gen Z wants to be part of something bigger.”
Join Host Mike Merrill and Foundation Software CRO Steve Antill as they discuss the importance of data collection efficiencies in refining a contractor’s back-office.
Antill highlights how Foundation Software, an industry leader in innovative construction solutions, enhances data collection through strategic acquisitions and the development of new tools for project and human resource management.
The conversation also looks at how different generations in the industry are adopting new technology — highlighting how easy-to-use software can improve data accuracy and make operations run more smoothly.
Key Takeaways:
Struggling to streamline your construction business operations? We’re here to help. In this episode of the Mobile Workforce Podcast, host Mike Merrill speaks with Steve Antill, CRO of Foundation Software, a leading provider of construction solutions.
They discuss the importance of data collection efficiencies, the evolving landscape of the construction industry and how Foundation Software’s suite of products helps businesses optimize their back-office functions.
Antill also shares insights on economic trends, the company’s strategic acquisitions and the development of new tools for project management and Human Resources management.
“We've seen this massive generational shift in the leadership of companies, a lot of these family-owned construction companies, that next generation that did grow up,” says Steve Antill. “Using a computer is taken over and you've seen these offices go from, you know, one computer and 10 filing cabinets to now they have FOUNDATION, they have Procore, they use WorkMax and, and you're just like, this is so cool to see how your company's evolved over the last 10 years is this new generation of leadership has come into the company and has embraced it.”
Listen as host Mike Merrill speaks with YHB CPAs & Consultants Matt Smith, CPA, and Dorrie Franzello Kurtz, CPA. They discuss the importance of year-round accounting compliance in the construction industry.
They highlight how continuous collaboration between different departments can lead to more thorough audit trails and better project outcomes. They also explore the critical role technology plays in providing real-time information for more timely decision-making.
Key Takeaways:
· Maintain compliance throughout the year rather than just at year-end.
· Interdepartmental communication is essential for successful project management and financial health.
· Leverage technology for better data visibility and efficiency.
· Educate project managers on financial implications to improve accountability.
· Regular meetings with external financial statement users can prevent surprises.
Struggling to keep your construction firm compliant year-round? We’re here to help. Join Mike Merrill as he sits down with YHB CPAs & Consultants Matt Smith, CPA and Dorrie Franzello Kurtz, CPA, to discuss strategies for continuous compliance in the construction industry. Learn about the importance of interdepartmental communication, the necessity of leveraging technology and how to maintain consistent collaboration.
“We can't make you money, but we can sure keep you from losing it,” said Dorrie Franzello Kurtz.
When looking for the right construction software for your operations it’s important to assess your needs. WorkMax is a software that allows you to connect information from the field and office to provide you with real-time insights into workforce efficiency and productivity.
https://workmax.com/workmax-employee-time-tracking/
https://workmax.com/insight-productivity-management/
Listen as Host Mike Merrill and Foundation Software CPA Liaison John Corcoran discuss the critical role of CPAs in the construction industry. Corcoran gets into the nitty gritty of why it’s so important to have a CPA who understands construction-specific financial matters. He will expand on how networking and getting involved with professional associations — like CFMA — are vital for staying competent and connected in the industry. The episode also touches on the personal sacrifices required for career success and the evolving focus on mental health and diversity within the industry.
Key Takeaways
Join Host Mike Merrill and Foundation Software CPA Liaison John Corcoran as they discuss the vital role of construction-specific CPAs and the importance of networking and professional associations like CFMA. They will also explore personal sacrifices necessary for career success and explore the industry's evolving focus on mental health and diversity.
“Networking is so important,” Corcoran said. “I'm a CPA. I'm in the construction industry, but as far as technology and technical things, I'm very, very substandard on it, but I've become a pretty good networker and that's what helped me all through my career.”
Are you looking to optimize your financial strategies and drive profitability? Then tune in to explore better construction accounting practices!
In the latest podcast episode of the Mobile Workforce Podcast, host Mike Merrill welcomes CPAs Barry Weber, Partner at Eide Bailly, a CPA and consulting firm, and Brian Cronnelly, CCIFP Outsourced Accounting Manager also at Eide Bailly.
Their conversation focuses on strategies that contractors can use to enhance their business operations through financial reporting, tax crediting and leveraging industry benchmarks to improve decision-making and profitability. Weber and Cronnelly stress the importance of timely and accurate billing reports and overview the impact of recent changes in energy tax credits.
Key Takeaways:
· Timely financial reporting is necessary for regular and accurate financial statements, aiding decision-making.
· Recent changes in energy tax credits significantly impact the construction industry.
· Benchmarking against industry standards helps set realistic goals by comparing financial metrics with industry averages.
· Effective cash flow management strategies help avoid high-interest expenses and ensure business liquidity.
· Implementing tech solutions like geofencing can improve operational efficiency and reduce costs.
Quote:
“A big one we look at is working capital. If you don't have the funds to keep your projects going, you'll need to find other financing sources,” said Cronnelly. “One important KPI is backlogged working capital—how much you have in current work compared to your working capital. If you can't fund your projects, it's time to talk to a banker.”
Exit and Self-Promo:
When looking for the right construction software for your operations it’s important to assess your needs. WorkMax allows you to connect information from the field and office to provide you with real-time insights into workforce efficiency and productivity. Equipped with great features like geofencing, WorkMax is sure to reduce your labor costs while improving operational efficiency.
https://workmax.com/workmax-employee-time-tracking/
https://workmax.com/insight-productivity-management/
If you’re looking to understand how to leverage technology
In the latest podcast episode of the Mobile Workforce Podcast, host Mike Merrill welcomes Mike Ode, President of Foundation Software, a leading provider of construction software.
Their conversation focuses on the transformative impact of software in the construction industry. They discuss the evolution from hardware to industry-specific software solutions that bridge the gap between fieldwork and office management.
**Key Takeaways**:
Construction software helps you easily maintain records and track key performance indicators
Companies can improve productivity and make more informed decisions with the help of construction software
Choosing the right technology partner is crucial to your company’s long-term success
“Software has allowed us to fill the gap between the field and office,” Ode said. “The quicker you get accurate data, the quicker you can make informed decisions. When you can adjust on the fly, it can be the difference between making money or losing money on a job, period.”
When looking for the right construction software for your operations it’s important to assess your needs. WorkMax is a software that allows you to connect information from the field and office to provide you with real-time insights into workforce efficiency and productivity.
https://workmax.com/workmax-employee-time-tracking/
https://workmax.com/insight-productivity-management/
In the latest episode of the Mobile Workforce Podcast, host Mike Merrill welcomes Dr. Anirban Basu, a prominent economist known for his engaging analysis of economic trends, particularly in the construction sector. The discussion provides valuable insights into how current economic conditions, such as consumer spending trends and government policies, are shaping the construction industry.
Key Takeaways:
- The continuous influence of consumer spending and federal spending
- Predictions for the construction industry's growth amidst economic challenges
- Practical strategies for businesses to prepare for future economic shifts
"The transformation of the economy, you know data centers, medical facilities, infrastructure, obviously the electrical grid, all of these things are being transformed and they create demand for contractor services.”
When preparing for potential economic changes, it’s crucial to reduce labor costs and improve project management. WorkMax’s construction time tracking and productivity management software allows you to do just that by connecting information from the field and office to provide you with real-time insights into workforce efficiency and project progress.
https://workmax.com/workmax-employee-time-tracking/
https://workmax.com/insight-productivity-management/
Struggling to navigate the unpredictable economic currents? Anirban Basu brings clarity to the complexities!
Join host Mike Merrill and renowned economist Anirban Basu as they do a deep dive into the state of the economy, particularly focusing on the construction industry. Anirban shares his expert insights on consumer behavior, federal spending, and economic predictions, offering valuable strategies for staying afloat in turbulent times.
As we navigate a landscape of high interest rates and inflation, understanding the underlying economic dynamics is crucial. Dr. Basu explains how despite high interest rates and inflation, consumer behavior remains strong, supported by significant federal spending and transformational projects like infrastructure enhancements.
“The consumer, who is much of the economy, has continued to spend despite high interest rates,” Dr. Basu said. “Right now, the economy has so much job creation, so many job openings, you have to think the consumer is going to continue to spend through the summer and into the fall. But the consumer cannot continue to borrow this way. It’s not sustainable.”
Dr. Basu offers a deep dive into how these factors are influencing the construction industry and presents actionable advice for businesses looking to weather potential downturns. Additionally, he addresses the critical challenge of replacing the aging workforce with skilled labor, emphasizing the role of education and policy in shaping future opportunities. Tune in to understand the economic forces at play and how they might affect you and your business.
The podcast currently has 181 episodes available.