The Mobile Workforce Podcast By FOUNDATION Software

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
      Success in the construction industry heavily relies on professional networking.       Active participation in industry-related associations and conferences are crucial for CPAs to stay updated and competent.       There are appropriate ways to make personal sacrifices for professional success.       The construction industry is evolving to address broader issues like mental health and gender diversity. Implement strategies to safeguard the mental health of your crew.  
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.
 
 

Are you looking for steps to adapt to evolving workforce demands? Discover transformative strategies in our latest podcast episode.
Join Mike Merrill and renowned human relations expert Brent Kedzierski as they explore evolving workforce management trends to help you improve workplace productivity while attracting and retaining employees.
"Every generation reshapes the workforce based on their experiences. Right now, we're shifting from living to work to working to live. Understanding and adapting to this change is key to future success."  - Brent
 
Key Takeaways:
- Embrace technology to improve safety and efficiency.
- Shift from work-life balance to prioritizing life.
- Engage and value employees to boost productivity.
 
In order to keep their companies competitive, construction professionals have to stay ahead of the evolving trends in workforce management. In this podcast, Brent discusses the historical shifts from efficiency-focused practices to modern, post-pandemic approaches that prioritize worker well-being and life outside of work.
Brent and Mike give advice on how to deal with the shift from traditional management theories to the current model that emphasizes work-life balance. One of the common tools they highlight to help implement this change is through the use of technology.
"Technology should support, not replace, human workers,” Brent said.
Construction technology can create, track and store crucial information. Employers can use this technology, oftentimes in the form of a software, to build their safety programs and track compliance, manage productivity, deadlines and much more.
See how WorkMax's construction time tracking and productivity management software can help you revolutionize your workforce management. With WorkMax, you can connect 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/