WIP Your Cash Flow Into Shape: Best Practices for Cash Management and Forecasting in 2021

By clicking "Register", you acknowledge that you have read BNP Media’s Privacy Policy, agree to its terms, and consent to allow BNP Media to use your information consistent with the Privacy Policy. You agree your information submitted will be shared with the sponsor(s) of the webinar. To read our Privacy Policy, please click here
Live webinar airing on November 17, 2020 at 2:00 PM EST
Sponsored by Prophix Software
Presented by Eric Newton and Chris Porter

Learning Objectives:

  1. Recognize barriers to cash flow forecasting at your company.
  2. Compare your business practices to those of your peers in industry benchmarks.
  3. Determine ways to leverage technology to track job profitability and build detailed forecasts of your cash balances.
  4. Identify key performance indicators (KPIs) to monitor the strength of your cash flow position.
  5. Evaluate current accounting processes at your business and ways to improve.

Credits:

AIA
1 AIA LU/Elective
IACET
0.1 IACET CEU*
PDH
1 PDH*
RCEP
1 PDH
BNP Media has met the standards and requirements of the Registered Continuing Education Program. Credit earned on completion of this program will be reported to RCEP.net. Certificates of Completion will be issued to all participants via the RCEP.net online system. As such, it does not include content that may be deemed or construed to be an approval or endorsement by the RCEP.
This course may qualify for continuing education through the FBPE.
This course may qualify for continuing education through the NYSED. For further information, please visit the NYSED website at http://www.op.nysed.gov/prof/pels/peceques.htm.

Construction is one of the fastest-growing industries, and with tight margins, project delivery delays and labor shortages, no industry has more complexity and risk. This is why it’s important to always know exactly where your business stands from a cash flow perspective.

Cash is critical, and managing cash flow can be a challenge for any company. Managing the flow of cash in and out of your business accounts is no easy task, but the right technology tools can give you the power to accurately project and monitor your organization’s cash flow.

Photo courtesy of Prophix Software

Eric Newton is director of the Construction Division at Prophix Corp. A CPA who started his career in public accounting working with contractors, his background includes audit, tax, mergers and acquisitions, and IT consulting. Eric was CFO and secretary treasurer for a heavy highway contractor for seven years, and vice president and senior vice president of sales and marketing for three construction ERP solutions—Cheetah Advanced Technologies, Dexter and Chaney, and Viewpoint—over a 10-year period. He was also senior vice president of the Construction Division at Comdata Corp. for eight years, where he grew the construction vertical to more than 1,000 contractors, including many of the ENR Top 400 Contractors.


Chris Porter has a background in finance and accounting, with a Bachelor of Business Administration Honors in Finance from Brock University. After working at Research in Motion (BlackBerry) for three years, he joined Prophix in 2012 and has worked in all capacities of the business, including consulting, sales and alliances. As the construction solutions manager, Chris dedicates his time to building solutions that better support construction customers’ business processes and profitability.

 

Prophix Software Prophix unified Corporate Performance Management platform centralizes all your financial information and ensures your project job cost information is always in sync with your accounting. With a single source of the truth, everyone from the field to the office is always working with the most up-to-date cost information, preventing cost overruns, reworks and project delays.

 

Originally published in November 2020

Notice

Academies