Princeton, NJ & Bethesda, MD — The Construction Financial Management Association (CFMA) and the National Electrical Contractors Association (NECA) announced their joint efforts on the NECA Financial Survey for Electrical Contractors and online benchmarking results, built upon CFMA’s proprietary Construction Financial Benchmarker and Financial Survey tools.
“We look forward to working with CFMA’s innovative, online benchmarking tool to help our members get more current financial performance benchmarks,” said Dan Walter, COO of NECA. Stuart Binstock, President & CEO of CFMA, added “This agreement helps bankers and sureties understand financial benchmarks within the electrical contracting community, while building upon CFMA’s expertise and survey platform as the source for credible financial information for both general and subcontractors across the country.”
The joint venture will produce a NECA‐branded microsite for electrical contractors, providing them with a convenient option to both input their financial information and create reports with financial comparison data for other electrical contractors in their region or by revenue size. The platform provides benchmarks based upon the successful Construction Financial Benchmarker (www.financialbenchmarker.com)– the interactive, online tool for construction industry financial benchmarking. CFMA’s Annual Financial Survey – published yearly since 1989 – has surveyed general and specialty subcontractor financial personnel and produced the financial benchmarks needed by surety and accounting professionals across the industry.
Under the agreement CFMA will begin surveying electrical contractors in August, 2012 with online benchmarking data available in late 2012. For more information, contact Fern Oram, CFMA, e‐mail: foram@cfma.org tel: 609.945.2474 or Greg Mankevich,gam@necanet.org, tel: 301.215.4550
The Construction Financial Management Association (CFMA) is the only non‐profit individual member organization in the world dedicated to serving the financial professional in the construction industry. Established in 1981, it serves more than 6,500 members in 88 chapters across the United States and Canada, publishes an award‐winning business journal, CFMA Building Profits, and offers a variety of educational and professional development and connection programs through its chapter network, at its Annual Conference & Exhibition, and distance learning via the Internet. Membership in CFMA provides construction financial professionals with unique opportunities for industry networking, career development, and personal and professional growth.
National Electrical Contractors Association (NECA) is a dynamic national organization serving the management interests of the entire electrical contracting industry. NECA is the voice of the $130 billion industry responsible forbringing electrical power, lighting, and communications to buildings and communities across the United States.
