SAN JOSE, Calif., May 21, 2024
/PRNewswire/ --On May 9, 2024,
construction owners from the Wisconsin and Illinois areas gathered to network, establish
valuable connections, and spark new partnerships at the inaugural
CO Summit 2024. Co-organized by Lumber, the event was a
tremendous success, with 23 companies from Wisconsin and Illinois showcasing their offerings, attendees
had ample chances to connect with industry peers, share ideas, and
explore potential collaborations.
The highlight of the event was a thought-provoking session led
by Oleg Pravdin on the emerging
Trends and Challenges faced by construction owners, focusing on
issues such as compliance, intricate payroll processes, and
unintegrated applications that necessitated manual data entry.
Pravdin meticulously explained the difficulties in managing
payroll, time tracking, and adhering to building compliance
regulations, which often prevent construction owners from
concentrating on their core expertise - construction.
Additionally, he delved into the complexities of prevailing
wages, a crucial aspect for contractors working on federal
projects. This part of the session was particularly illuminating,
as it highlighted the specific requirements and common pitfalls
associated with prevailing wage laws under the Davis-Bacon Act.
Pravdin provided actionable insights on how to navigate these
challenges, ensuring compliance while minimizing administrative
burdens. Furthermore, the session shed light on common errors in
Davis-Bacon projects, explaining
their causes and providing strategies for correction.
Lou Perez, Head of Sales at
Lumber, commented on the summit's success: "The inaugural CO Summit
2024 exceeded our expectations in every way. The phenomenal
networking opportunities allowed construction owners to connect,
share ideas, and form valuable partnerships. This event has truly
highlighted the vibrant potential of the construction industry and
opened up exciting possibilities for everyone involved."
Shreesha Ramdas, CEO of Lumber,
added, "CO Summit 2024 has been an eye-opening experience,
highlighting the immense possibilities within the construction
industry."
With enthusiastic participation and support from various
organizations, CO Summit 2024 set a strong foundation for future
events, promising continued growth and innovation in the
construction industry. The next CO Summit will be held in
Sacramento, California, around
September this year.
Visit the CO Summit 2024 page for more information.
About Lumber
Lumber is a construction workforce management platform that
streamlines payroll, time tracking, safety, compliance, field
productivity, rewards, and recognition for contractors.
Visit lumberfi.com for more information.
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SOURCE Lumber