Kim Tremblay

 Accelerate Your Cash Flow You’ve spent considerable time and effort in running your projects well.  You make sure that your customer is kept very happy during project execution, and you’re expertly handling the multitude of challenges that come along with a complex project.  Your project is going well, your customer is happy. But you still can’t seem to get paid on time. What’s with that?   There’s no doubt about it, keeping your project healthy and well managed has a huge impact on achieving healthy cash flow, but that's really only part of the overall strategy of getting cash flowing happily into your organization.   The other half of it – the half that can really bite you – is making sure that you invoice efficiently, and your customers pay you efficiently.  Many construction organizations spend a great deal of cost and effort towards invoicing their customers in an attempt to improve their cash flow performance. The challenge, however, is that they’re using the same old process, the same old tools, subject to the same old risks.  And they’re getting the same old results: accounts receivable aging stretching to 120 days, accountants and auditors insisting on an allowance for uncollectable accounts, board members and bank managers tapping their fingers waiting for the latest receivables schedule.   It’s no wonder when you consider the inherent challenges that practically all construction companies have to deal with in getting their invoices out the door.  Those challenges, however, can be minimized, and cash-flow significantly accelerated by implementing the following four cash flow management strategies. Consolidate information. When your key project data resides in multiple systems, there is great risk in access, ownership and status of that data. When you consolidate