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Specialty trade contractors face tight cash flows due to supply chain issues and inflation but have a significant growth opportunity with increased commercial construction activity and funding from the Infrastructure Investment and Jobs Act. Success depends on strong cash positions. Additionally, firms must adapt to digital workflows preferred by younger workers, creating process disruptions. CFOs play a crucial role in adopting new best practices to navigate these challenges and remain competitive. This report outlines these practices based on insights from Kojo's 500+ specialty contractor customers.
Adopting a new tech solution means big changes for an organization and requires people to let go of old ways of doing things, learn new skills, and follow new processes. Before implementing a new technology, it's important to assess whether the team is ready for a new tech platform by asking three key questions. If the answers are all "yes," then it's a good sign that implementing a new technology will be successful.
