|Contact: Mike Verbanic, CFMA, 609-945-2418, [email protected]
Gail Raiman, ABC, 703-812-2073, [email protected]
Fern Oram, CFMA, 609-945-2474, [email protected]
For Immediate Release
April 17, 2012
PRINCETON, NJ & ARLINGTON, VA – TUESDAY, APRIL 17, 2012 The Construction Financial Management Association (CFMA), an international, non-profit professional association focused on construction financial professionals, and Associated Builders and Contractors, Inc. (ABC), the national association representing merit shop construction and construction-related firms nationwide, today signed an agreement to jointly produce a comprehensive information technology survey for the construction industry. The survey is designed to be a tool that companies use to compare their use of technology with that of their peers to advantageously leverage their technology investments.
Under this agreement, CFMA and ABC will now jointly develop, disseminate, and publish the 2012 edition of the IT Survey of the Construction Industry. Since 1996, CFMA has published this survey, which provides information on hardware and software selections from several hundred general contractors and subcontractors representing various geographic regions and revenue levels.
New for the CFMA/ABC 2012 edition, the IT Survey will be offered in an interactive online format, providing industry professionals with immediate access to the critical IT information they need to further measure effectiveness and identify savings potentials. The online Construction IT Benchmarker will be the on-demand resource for comparative IT data, complete with an online community to tap into for advice and recommendations on the right IT solutions for construction companies.
“ABC’s new collaborative relationship with CFMA on this IT benchmarking survey will bring value to our members by providing them with the critical information to make strategic hardware and software business decisions, affecting their bottom line, “ said ABC President and CEO Mike D. Bellaman. “Our agreement, the first of its kind, will provide the latest benchmarks in the fast-paced and ever-changing world of IT resources,” added Bellaman.
Stuart Binstock, President and Chief Executive Officer of CFMA, stated, “CFMA and ABC are committed to helping our members achieve the best return on their IT investments.” He continued, “Formalizing a cooperative relationship with ABC, to develop and produce the IT Survey, helps both our organizations and members get the greatest benefit of their IT hardware and software. It will allow our members to benchmark their IT systems with other companies similar in specialty or revenue size.”
“Likewise, a closer working relationship between ABC and CFMA will help each organization be more effective in supporting construction firms,” said Binstock.
Both organizations will implement the agreement with the development of the IT Survey’s Online Questionnaire, tentatively scheduled to be distributed to CFMA and ABC members in May 2012. The IT Survey results, presented in an innovative on-line interactive format, are scheduled to hit the market in September 2012.
Established in 1981, CFMA’s members represent the financial professionals within contractors – including general and sub specialty – as well as developers, construction managers, architects, engineers, principals, and material and equipment suppliers. CFMA associate members include the accounting, insurance, surety, software, legal, and banking specialists who serve the construction industry. CFMA chapters, located in major cities, offer local workshops, seminars, and programs that complement the extensive member services provided by CFMA Headquarters in Princeton, NJ. CFMA currently has more than 6,500 members in 87 chapters throughout the U.S. and Canada. For more information about CFMA, visit www.cfma.org
Associated Builders and Contractors (ABC) is a national association with 74 chapters representing 22,000 merit shop construction and construction-related firms. For more information about ABC, visit www.abc.org