But it also offers an opportunity – the chance to get your house in order. With site operations suspended or reduced, many of our clients have had to furlough workers. The question is: should they suspend management operations as well?
We’ve been advising clients that this is their chance to address historical commercial matters and bring all contractual and financial processes fully up to date. This means ensuring all the contract variations and compensation events that have inevitably arisen have been followed up with the correct administrative procedures.
It’s also more vital than ever to keep engaging with your customers to manage the business disruption.
So make good use of your time off-site to catch up with everything that’s been pushed back down your list of priorities and thoroughly reviewing your accounting processes.
The Government has made it clear that, in the case of public sector contracts, supply chains should be paid promptly and the current Covid-19 situation is not an excuse for delay.
In these challenging times, more than ever, cash flow will be the key to survival.
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The businesses that thrive will be those that hit the ground running, with all their historical affairs in order.
Don’t delay. If you’d like professional advice or assistance from a quantity surveyor, call ProQS today to discuss your needs.