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Category: Project Management

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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

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

contingency usage

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. 

best practices for change orders

9 Best Practices for Managing Change Orders as a Real Estate Developer

When planning the project, you predict uncertainty by including a contingency. The change order is the process of transforming this uncertainty into a certainty.

Rabbet/AvidXchange Announcement

Rabbet Announces Partnership with AvidXchange to Enhance the Invoice Management Process for Real Estate Development Teams

Rabbet, the leading provider of real estate development management software, today announced a partnership with AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market to enhance the invoice management process for real estate development teams.

9 Best Practices for Managing Change Orders as a Real Estate Developer

Project Forecasting

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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The Excel Paradox

Rabbet’s 2021 State of Construction Finance Report revealed that most lenders and developers are using spreadsheets to carry out major parts of their process, but complain about its inefficiency.

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2021 CONSTRUCTION FINANCE TRENDS

The 2021 State of Construction Finance Report dives deep into how processes and perceptions of construction finance have changed as well as what these processes could look like in the future.