In an article published in the April issue of Construction Today, John Yeager, Managing Director of Bennett Thrasher’s Business Transformation Services Practice, and Paul Van Den Berg, CEO of Catalyst180 who focuses on optimizing financial and operational processes for growing businesses, discuss how fast-growing construction firms can recognize the necessary foundation of financial operations and build a profitable business by utilizing technology.
Yeager and Van Den Berg unpack “three pillars for success” that growing construction firms can adopt to tackle challenges they commonly face when attempting to grow their business:
- Implement modern, frictionless operations technology, whether by improving what is already there or moving accounting and back-office processes to a modern cloud solution.
- Focus on the unique value and utilize fractional outsourced expertise for accounting, operations and IT systems to keep up with accounting, process and technology changes.
- Aim for a clear view of business financial operations to avoid building on a flawed foundation. This can be done by implementing an automated and detailed FinOps view into the business.
“Evaluate your financial operations situation and target key transformation milestones over the next two years against a maturity model to create your road map to success.”
To read the full article, please click here.