Construction

Conversations in Construction: Uncertainty as the New Normal, Part 2

As part of the Conversations in Construction video series, Construction and Real Estate VP Dustin Stephens and industry experts examine some of the unique challenges and ground-breaking innovations in the world of construction.

November 10, 20254 min read Share

Welcome to the next installment of our Conversations in Construction series, where industry leaders share practical strategies to help firms navigate today’s challenges and build long-term resilience.  

In part one of our Uncertainty as the New Normal discussion, we explored the unprecedented challenges firms face today — and why technology is key to overcoming them. If you missed it, be sure to go back and read the blog and watch the videos on today’s construction reality and the technology imperative facing the industry.

The next part of this conversation shifts the focus to finance leaders: how they’re adapting, the role technology plays in driving agility, and the strategies positioning firms for long-term success. 

One thing has become clear over the years: finance leaders aren’t just responsible for the numbers anymore. They’re at the center of how firms adapt, grow, and respond to an unpredictable market. 

Here’s what we’ll cover:

Moving from reactive to proactive 

In the past, financial reporting in construction often meant looking backward. Teams pieced together spreadsheets and closed the books long after decisions had already been made in the field. 

Today, technology is shifting that dynamic. With cloud-based systems that connect finance and operations, leaders can see what’s happening in real time. 

Instead of waiting until the close to learn that margins eroded, firms can now spot issues as they happen and adjust right away. Whether it’s a subcontractor billing ahead of progress or a cost overrun, finance teams can act early to protect profitability.

Forecasting with agility

Another major shift is happening in forecasting. 

Reforecasting used to be a time-consuming, error-prone process, often managed through endless spreadsheets and version-control headaches. Now, integrated systems allow collaborative updates that flow directly into the financial picture. 

Having this level of insight helps leaders answer critical questions quickly: 

• Do we need to re-forecast this project? 

• Should we adjust resources now before risks escalate? 

• How does this change impact the overall outlook for the project? 

This allows firms to gain clarity not just on individual projects, but on the business as a whole. That kind of visibility is essential for scaling with confidence. 

In my recent discussion with John Moran, CFO at W.R. Newman and Associates, Inc. and Zachariah Merschdorf, solutions architect at Accordant, they provide additional examples of how businesses can develop and maintain operational agility.  

Watch Conversations in Construction: Operational Agility

Pricing and bidding

Beyond forecasting, firms are also rethinking how they price and pursue work in a volatile market. 

Many contracts are being written with shorter terms and built-in flexibility, giving firms room to adjust when conditions shift. At the same time, AI is transforming the bidding process. By analyzing past estimates and identifying gaps, firms are producing bids that are both faster and more accurate. 

What once took weeks can now be turned around in days, a critical advantage when speed and precision often determine who wins the job.

Building strong relationships and culture

But strategy isn’t only about numbers and systems. People and partnerships matter just as much. 

Externally, firms that take a long-term approach to client relationships are seeing the greatest impact. Instead of focusing on one-off engagements, they are building trust with clients and gaining opportunities for repeat business. Internally, culture plays a vital role in employee recruitment and retention.

By fostering a close-knit, team-oriented environment, firms are keeping talent engaged in a competitive labor market. When people feel connected to the mission and valued for their contributions, they’re more likely to stay invested in the firm’s long-term success.

My discussion with John and Zachariah provided additional insights into how businesses can position themselves for success. 

Watch Conversations in Construction: Strategic Positioning

The evolving role of finance leaders

Finance leaders are not solely overseeing accounting processes. Their role is becoming more strategic — focused on enabling technology, interpreting data, and guiding their organizations through uncertainty. 

By automating manual tasks and integrating core systems, CFOs can achieve more with leaner teams. That doesn’t mean replacing talent; it means giving teams the tools they need to work smarter, focus on analysis, and provide insights that drive decisions. 

The result: finance leaders are moving from producing reports to actively shaping the direction of their firms.

Final thoughts

Uncertainty will always be part of construction. But today’s finance leaders are proving they can stay ahead of it — moving from reactive reporting to proactive management, forecasting with agility, and redefining their role as strategic partners.

Watch Conversations in Construction: Strategic Positioning,