Software for construction bidding and other technology help contractors manage four steps
Construction industry studies show that change orders represent an average of 8% to 14% of contract value. Based on this statistic, effective management of change orders can clearly be a key to profitability. While all construction companies have some type of process for identifying and managing change orders, many do not have a process that maximizes the recovery of change orders. This is surprising when you consider that every dollar recovered falls directly to the bottom line. Therefore, a 1% of contract value increase in change order recovery increases net income, as a percentage of revenue, by 1%. In our low-margin industry, that is huge. Read More
