NECA Seeks Input on CFMA 2023 Financial Benchmarker Report
In partnership with the Construction Financial Management Association (CFMA), NECA is asking member contractors to complete the CFMA Financial Benchmarker survey for industry research purposes. The report provides an in-depth analysis of key financial data and provides an industry standard that can be used for change order negotiations, audits, claims and more. The survey is confidential and should take less than 30 minutes to complete.
The collection of this data strengthens our industry and gives our contractors a standard base for operation. Whether it’s used as a market reference point or instructional guidelines, the CFMA Financial Benchmarker Report keeps our members competitive and external entities informed of fair expectations.
You can rest assured that your information is kept confidential! The only people who can view uploaded company financials are the person who submitted it and the company that analyzes the information (Industry Insights). Information submitted through e-mail to CFMA is forwarded unviewed to Industry Insights. The focus is on aggregate industry data. The purpose is NOT to highlight the performance of individual companies.
The only reason contact information is gathered when submitting the survey is to verify information if a potential problem is identified. We understand that mistakes can occur when submitting information, so data validation is important to ensure the accuracy of the results.
Your company will also be rewarded for allocating the time to respond to our request and for sharing information through the survey. Participating companies receive through CFMA’s Financial Benchmarker website:
• Two Peer Report credits, which allows users to build an Excel file that is based on CFMA’s Financial Benchmarker for the entire construction industry.
• Company Performance Report, which is a graphical depiction of industry trends, as well as a qualitative assessment of a company’s situation.
• CFMA’s Financial Benchmarker PDF, which is a detailed review of results for the entire construction industry and includes salary information for 22 accounting positions.
Please download the survey here. The deadline for feedback is no later than May 24. If you have changes, please re-submit the entire spreadsheet no later than June 7, 2023. If erroneous information is discovered after that, please contact Matt Chaffin, [email protected]. For other questions about the NECA Financial survey or the benefits provided to participating companies, please contact Mike Elek, [email protected], (609) 945-2412.