Use the submittal process as an opportunity to delight your customer with their speed and quality.
Use them as an opportunity to build relationships at all levels, realizing that many of those people will be directly or indirectly involved in the cash flow process.
Build submittal deliverables into your Schedule-of-Values (SOV) to accelerate cash flow.
Invest the right level of detail in the submittal process, including looking for Value Engineering opportunities. Delayed or unclear submittals will impact your productivity and cash flow.
Start by creating a very detailed log that includes not only submittals, but every close-out requirement in the specifications for you and any of your downstream vendors or subcontractors. Remember that slow close-out will hold up the last 10-15% of your cash flow on the project.
We are revamping our publicly available cash flow workshop that includes these 18 tactics that contractors can use to accelerate cash flow. Stay informed of updates on release.
