The FER Formula
Our vision is simple: Profit is theory, cash is reality! In the construction industry, cash management is critical, but the challenges are many. Owners can be slow to pay, surety companies want to pay as little as possible, and clients, sometimes, don’t pay at all. So what can you do?
TrainWe train all your employees to help them understand how their habits and practices can help or hinder the collection of accounts receivable.
SupportWe help you set up a follow-up system for your accounts receivable and the monitoring of all deadlines for denunciations, demands for payment and construction liens and legal hypothec, and help you make sense of a host of administrative questions.
RepresentWe prepare and manage all the necessary documentation to protect your accounts receivable for denunciations through construction bond, liens or legal hypothec. We can also handle your collection process and ensure your clients pay faster.
The Path to Cash™To improve your cash flow, we will help you through our unique approach: The Path to Cash™.
Through a subscription, you get access to our team of specialists and full support, from opening accounts up to release of the final holdback.
Too often, construction companies and their personnel view accounts receivable as a business process limited to billing for work performed and collecting the invoice. It is assumed that this is mainly the responsibility and work of the accounting and administration team.
Every member of your team (estimating, administration, procurement, construction team, service team, project management, accounting, dispatch, etc.) has an impact on your ability to get paid. The entire team needs to be aware of the steps that lead to payment and understand the role they need to play in expediting your collections.