Co-Founder & CEO, Vergo
Rich Kane
Rich previously owned a commercial construction company in New York, following a decade working in finance where he supported CFOs, controllers, and accounting teams. Combining the learnings from both of these complex worlds, Rich co-founded Vergo to build software for finance and accounting teams in the construction industry to streamline their operations. Rich is a dedicated father of two girls and lives in the New Jersey area.
Recent Posts
The construction industry has long been known for its complex financial workflows, with accounting teams navigating multiple challenges such as managing accounts payable (AP), tracking job costs, and ensuring accurate Work-in-Progress (WIP) reporting. These processes are traditionally manual, time-consuming, and prone to errors.
Even if you're not ready to embrace AI just yet, these simple strategies can help you future-proof your business and prepare for an AI-powered world.
Outlines five strategies CFOs can use to streamline financial close, including leveraging automation, standardizing processes, fostering collaboration with project managers, optimizing AP workflows, and adopting continuous closing techniques.
Offers strategies for organizing accounting tasks, such as creating checklists, prioritizing tasks, leveraging technology, delegating within the team, and fostering collaboration for a smooth month-end close.
Provides actionable steps for accounting managers to optimize AP processes by automating workflows, standardizing invoicing, improving collaboration with project managers, and conducting regular AP audits.
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Details how controllers can enhance task management to accelerate the month-end close by using checklists, automating repetitive tasks, improving communication, and adopting continuous close approaches.
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Emphasizes the importance of collaboration between accounting and project managers for a faster financial close, including strategies like integrating systems, improving communication, and enhancing WIP reporting.
