Foundation Software Helps Heavy Highway Contractors Offset Rising Construction Costs

STRONGSVILLE, Ohio, January 25, 2024 (Newswire.com) - Foundation Software, LLC — provider of FOUNDATION®, America’s #1 construction accounting software — is here to help heavy highway contractors manage the rising costs of projects. 

The Federal Highway Administration announced that the cost of heavy highway construction jobs rose 53.8% in the first quarter of 2023, and they've only continued to increase throughout the last 12 months. Inflation is directly impacting the prices of concrete, grading, excavation and asphalt. Highway contractors looking to combat these rising material prices have turned to FOUNDATION to ensure that their highway projects remain profitable. 

FOUNDATION’s Job Cost Module helps build an accurate budget by meticulously breaking down project costs. This allows users to monitor project expenses in real time while also automatically tracking every dollar spent. These drill downs can help identify any spending discrepancies before they become costly problems. 

Additional benefits include access to financial reports such as project cash flow, overhead allocation, over/under billing and WIPs. By running these reports frequently, contractors gain detailed insights into the progress of their projects and the rate of their spending. FOUNDATION also offers change order management for quick adjustments to the budget and timeline.

For more information about how FOUNDATION’s job costing can assist heavy highway contractors reduce the impact of rising construction costs, please visit this page.

Source: Foundation Software