Construction Executive published an article by Assurance Partner Robert Mercado and Senior Manager Christopher Sisk, about financial protections for contractors before the economy slows down.
By Robert Mercado, Partner, Assurance Services & Christopher Sisk, Senior Manager, Assurance Services
Instead of focusing on topline revenue, emphasis should be on reducing overall cost to the company. Internal best practice would have the contractor continually reviewing costs for possible reductions or cost savings (value engineering) in an effort to increase profitability and the financial strength of the company. When the economy begins to slow down, this practice is critical.