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In construction, failing to use the right technology can result in massive financial losses. Wade and Stephen delve into real-world examples where contractors lost big due to outdated project tracking, skipping BIM, and neglecting equipment maintenance.

Learn essential lessons on how effective use of technology could have saved projects from costly overruns and preventable disasters. Discover the importance of cybersecurity, bid accuracy, material tracking, and contract management in preventing financial pitfalls. If you're on the fence about implementing new technology, this is a must-listen!

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Topics we cover in this episode include:

• 00:44 Real-World Case Studies: Technology Failures
• 02:47 The Importance of Cybersecurity
• 04:39 Avoiding Costly Bid Errors
• 07:32 Material Theft and Mismanagement
• 13:11 The Role of Telematics
• 16:55 Legal and Contractual Safeguards

LINKS

Visit the episode page at https://carpentercpas.com/techmisstep for more details and a transcript of the show.

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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com