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Category: Construction Draw Process

Streamlining Construction Draws: The Power of Technology in Improving Efficiency

How lenders and developers spend excessive time processing draws on construction projects, the inefficiencies inherent in current processes, and why embracing technology is crucial for streamlining operations and driving future success.

Leveraging Data: Empowering Commercial Real Estate Developers for Success

How data empowers commercial real estate developers to make better decisions and ultimately save money in various ways.

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Rabbet Introduces First Generative AI Feature for Construction Finance

Rabbet, the leading provider of construction finance software, today launched its cutting-edge generative AI feature, Rabbet Vantage. Applying Rabbet's conversational query experience to the wealth of construction finance data tracked... Read More

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64% of Construction Lenders and Real Estate Developers Report Adopting Software to Stay Ahead in 2023

Our latest State of Construction Finance Report revealed how critical software adoption is for this industry. In a time when deal volume is down, industry leaders are investing their teams time in preparing for the future.

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TLDR: Rabbet’s 2023 State of Construction Finance Report

If you don’t have time to go through the entire of Rabbet’s 2023 State of Construction Finance Report yet, but you’re curious as to the findings, we’ve got you covered! Here is a summary of this year’s report.

REPORT: THE $208B COST OF SLOW PAYMENTS TO THE CONSTRUCTION INDUSTRY

REPORT: THE $208B COST OF SLOW PAYMENTS TO THE CONSTRUCTION INDUSTRY

Timely payments to general contractors and subcontractors reduce project risk, added costs, and delays. Rabbet’s 2022 Construction Payments Report dives into what happens when those payments don’t arrive on time... Read More

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Why Rabbet Integrates with AP and Accounting Systems

Why is Rabbet building integrations with every major accounting software? Development management and accounting are distinct and important activities for any real estate developer. Like drywall and paint, both are... Read More

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The Basics of Contingency on Construction Projects

Knowing capital needs on a construction project is critical to ensure proper cash reserves and interest reserves. Rabbet users can forecast what funding sources are going to be drawn during which months on the project then ensure sufficient interest reserves remain available.

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2021 Construction Payments Report Highlights

To finance slow payments, the estimated overhead included in subcontractors’ bids is 2.75% and 5.81% for general contractors. This year’s report uncovered that slow payments to subcontractors and general contractors will create $136B in additional costs for the US Construction Industry in 2021.

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Slow Payments to Cost the Construction Industry $136B in 2021

General contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $136 billion in excess cost to the industry, a 36 percent increase from the cost reported in 2020. Findings indicate those costs are passed on to real estate developers and financiers in the form of project delays and higher bids from contractors.