Building Profits Amid Rising Costs in the Construction Industry

ARTICLE -- In the construction industry, the escalating costs of labor and materials are not just a temporary inconvenience but a significant threat to financial stability and profitability. As companies juggle multiple projects, the lack of visibility into the actual profit loss due to these escalations becomes a persistent issue, often leading to a margin erosion spiral that is difficult to control.

FullClarity Forges a Partnership with OSSM

ANNOUNCEMENT: -- FullClarity is thrilled to announce its strategic partnership with OSSM, a distinguished NetSuite Solution Provider Partner based in Ireland. By joining forces, FullClarity and OSSM are set to deliver unmatched, comprehensive ERP solutions designed for the construction and fit-out sectors throughout Ireland and the U.K.

Constructing Success in 2024

ARTICLE -- Automation promises to address the construction industry's chronic inefficiencies by streamlining operations, enhancing accuracy, and providing real-time insights. Studies estimate that full-scale digitalization in nonresidential construction could lead to up to 20% cost reductions and shorten project timelines by as much as 30%.

Rethinking Retainage: The Quest for Greater Efficiency in Construction Management

ARTICLE -- Retainage, a common financial practice meant to guarantee the quality and completion of a contractor's work, is often burdened by outdated manual management techniques that pose significant challenges for construction companies and project-based organizations.

Navigating the Automation of AIA Billing in Construction: Challenges and Solutions

ARTICLE -- The AIA Billing process provides a standardized approach to invoicing and payments for construction projects. Two key documents, G702® and G703®, are essential for maintaining clarity, transparency, and contractual adherence and should be automated in your ERP.

Construction Management 2023: Overcoming Material Shortages and Premature Deliveries

ARTICLE -- 93% of construction firms experienced project delays due to material shortages in 2022, with an average increase in total project costs of 20% after original timelines were exceeded.

Construction Retention - Alleviating Disputes over Retention Releases

ARTICLE -- One key challenge that construction companies face is construction retention, disputes explicitly over retention releases. These conflicts can critically impact timelines, budgets, and profitability. 62% of firms identified retention release disputes as a significant hurdle in 2023.

Constructing Success: Unlocking Scalability, Flexibility, and Collaboration with FullClarity Construction for NetSuite

ARTICLE -- The construction industry, traditionally slow to adopt digital technology, is now on the cusp of a significant transformation. Construction companies using automation and cloud-based systems saw a 20% increase in project management efficiency.

Construction Management 2023: Overcoming the Top 10 Challenges

ARTICLE -- Cloud-based project management software is a future-proof technology. 73% of construction professionals believe technology will significantly improve productivity and reduce project costs in the coming years.

How Automation Solves the Challenge of Late Supplier Invoices in Construction

ARTICLE -- Late invoices can cause significant problems, leading to payment delays and reduced cash flow. Over 50% of construction companies experience difficulties collecting invoicing from suppliers on time, with an average delay of 30 days.