{"id":2237,"date":"2017-08-01T12:48:48","date_gmt":"2017-08-01T16:48:48","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=2237"},"modified":"2026-02-12T05:40:47","modified_gmt":"2026-02-12T10:40:47","slug":"bim-what-every-construction-financial-manager-should-know","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/bim-what-every-construction-financial-manager-should-know\/","title":{"rendered":"BIM: What every construction financial manager should know"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/category\/technology-innovation\/\" class=\"entry-header__link\">Technology &amp; Innovation<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tBIM: What every construction financial manager should know\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2017-08-01T12:48:48-04:00\">August 1, 2017<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"BIM: What every construction financial manager should know\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-us\/blog\/bim-what-every-construction-financial-manager-should-know\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-us\/blog\/author\/debcarpenterbeck\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2017\/04\/CRE-Deb-Carpenter-Beck.jpg\" class=\"entry-author__image\" alt=\"CRE Deb Carpenter-Beck\" \/>\t\t\t\t<span class=\"entry-author__name\">Deb Carpenter-Beck<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">What does <a href=\"https:\/\/www.sage.com\/en-us\/products\/sage-estimating\/bim\/\" target=\"_blank\" rel=\"noopener noreferrer\">building information modeling (BIM)<\/a> have to do with construction financial management?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dennis Stejskal and Walt Davis from Sage answer that question in their article, BIM 101 for Construction Financial Managers, just published in the July\/August edition of CFMA Building Profits magazine.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cMost construction financial managers (CFMs) are familiar with the term \u2018BIM,\u2019 but they don\u2019t necessarily understand it, or how it applies to their work,\u201d explains Stejskal, vice president of strategy and customer success for <a href=\"https:\/\/www.sage.com\/en-us\/sage-construction\/\" target=\"_blank\" rel=\"noopener noreferrer\">Sage construction<\/a> and <a href=\"https:\/\/www.sage.com\/en-us\/sage-construction\/real-estate\/\" target=\"_blank\" rel=\"noopener noreferrer\">real estate<\/a> products.&nbsp; \u201cWith more construction companies adopting BIM, we wanted to educate CFMs on the topic and how to make BIM their ally.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The article covers the basics from how BIM works, to who uses it and why. According to Stejskal, knowing those basics help financial managers more effectively communicate with their customers, executive team, and operations counterparts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BIM is also playing a bigger role in creating more precise estimates, which translates to more accurate budgets. \u201cEstimators that work with BIM are more confident in the numbers they hand over to the finance group,\u201d says Davis, estimating market manager at Sage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, BIM offers other important benefits, including<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increased business opportunities<\/li>\n\n\n\n<li>Improved project communication<\/li>\n\n\n\n<li>Reduction in material waste, schedules, and final construction costs<\/li>\n\n\n\n<li>Decrease in reportable safety incidents<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">All of that means better financials and reduced risks\u2014two things near and dear to construction financial managers. If you oversee financials for your construction firm, you won\u2019t want to miss this informative article.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/cfma.org\/articles\/bim-1-1-for-construction-financial-managers\">Read full article.<\/a><\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to our Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get our latest business advice delivered directly to your inbox.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-ab515c6e-7e90-4c2f-a67e-113872516e8b\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"Working from home with tea in hand\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What does building information modeling (BIM) have to do with construction financial management? Dennis Stejskal and Walt Davis from Sage answer that question in their article, BIM 101 for Construction Financial Managers, just published in the July\/August edition of CFMA Building Profits magazine. \u201cMost construction financial managers (CFMs) are familiar with the term \u2018BIM,\u2019 but [&hellip;]<\/p>\n","protected":false},"author":78,"featured_media":0,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"_pwl_sage_podcast_buzzsprout_src":"","footnotes":""},"categories":[48],"tags":[],"business_type":[],"lilypad":[],"context":[],"industry":[50],"persona":[],"imagine_tag":[246],"coauthors":[522],"class_list":["post-2237","post","type-post","status-publish","format-standard","hentry","category-technology-innovation","industry-construction-and-real-estate"],"sage_meta":{"region":"en-us","author_name":"Deb Carpenter-Beck","featured_image":"","imagine_tags":{"246":"Construction"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice US","distributor_original_site_url":"https:\/\/www.sage.com\/en-us\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/2237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/users\/78"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/comments?post=2237"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/2237\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media?parent=2237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/categories?post=2237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/tags?post=2237"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/business_type?post=2237"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/lilypad?post=2237"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/context?post=2237"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/industry?post=2237"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/persona?post=2237"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/imagine_tag?post=2237"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/coauthors?post=2237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}