WIP or Get Whipped

Why accurate, timely Work In Progress reporting is essential to contractors

By John Meibers, President of ComputerEase Software

Too many times a contractor creates a Work in Progress – (WIP) report because he feels he is obligated to do so, as the bonding agent or the bank requires it.  However, an accurate and timely WIP report should be seen as one of the essential tools for running a business.  A WIP report is a key component of enabling you to look into the future through forecasted projections.  So why are forecasted projections important? Continue reading