Wednesday, Dec. 4, 2024
3-4:15 PM (ET), 12-1:15 PM (PT)

This virtual roundtable webinar brings together perspectives from a construction financial professional, surety agent, and bond producer as they discuss the incentives for a contractor to submit more financial data (or at a greater frequency) to a surety. This webinar will first explain what is possible when open application programming interface (API) capabilities combined with financial reporting standards to produce a common data exchange (CDX) that can share periodic work-in-progress (WIP) reports from a contractor's system (Sage) to a surety's system (Crowe). The panel will then debate the cost/benefit analysis of adopting new WIP exchange policies or procedures between the submitting contractor, managing agent, and reviewing underwriter. Would sureties consider rate discounts for contractors that 'opt-in' to share more data? What benchmark data would a contractor want from their surety in exchange for their increased transparency? Find out answers to these questions in this webinar.  

After this session, attendees will be able to:

• Speak competently about the terminology of data interoperability and how nuanced differences can have significant impacts on real-world business transactions.
• Evaluate how your own company's WIP maintenance and reporting compares to other contractors to identify potential hidden waste or risk in your current process.
• Identify the bond agencies and surety providers that are leading digital transformation within their respective industry.

Level & Prerequisites
This is a group-internet webinar at the Intermediate Level. Attendees need to have some experience with the WIP process. 

CPE Information 
Earn 1.5 CPE credits in the field of Information Technology. Please note that CPE credit can only be earned by attending the live session and is not available by watching the recording.

CCIFP Information
Earn 1.5 Professional Development credits toward the General or Construction Knowledge Requirement.

 Who Should Attend?

• Business owners
• CFOs
• Controllers
• CPAs
• GCs
• Professional Advisors
• Sureties

Robert Coon, VP, Surety, Scott Insurance, Bond Services, 1st VP, NASBP
Caryl Coronis, CCIFP, Chair, CFMA & CFO, NAPCO Precast
Bryan McCallister, VP, Surety Strategic Initiatives, IAT Surety
Kristen Sharpe, CPA, Partner, Financial Services Consulting, Crowe
Dennis Stejskal, Director, Construction & Real Estate, Sage
Nathan Wood, Executive Director, Construction Progress Coalition