Construction finance leaders are being pushed to move from reactive decision making to proactive, data-informed leadership. That’s part of an industry shift that was a major theme at this year’s 2026 Construction Financial Management Association (CFMA) Annual Conference and Exhibition, where construction professionals from across the country were encouraged to “ignite your future.” This article will provide insights from our professionals on key conference topics of interest to the industry.
Economic Outlook Remains Challenging
The construction industry is navigating a largely resilient but volatile economy, which Sage Policy Group Chairman and CEO Anirban Basu highlighted in his kickoff address.
While consumer spending and some sectors, i.e., data centers and infrastructure, continue to support growth, ongoing inflation and high interest rates keep financing costs high and delay projects. Basu emphasized that having a high-rate environment for extended periods of time, combined with labor shortages and policy uncertainty, is creating a short-term challenge for the industry. However, Basu predicted a potential rebound. His message to construction leaders was clear: volatility remains the norm, and success will depend on disciplined decision making, strong backlog management, and the ability to adapt to shifting economic conditions.
Automation Is Advancing, but Strategy Still Lags
Automation is no longer optional as it becomes a core component of operational efficiency. Examples of automation and artificial intelligence (AI) on display included:
- Construction enterprise resource planning (ERP) systems that allow executives to ask questions in plain language and receive immediate analysis from project, accounting, payroll, equipment, and operational data
- Data entry automation
- Use of Power Automate to create processes that assist chief financial officers (CFOs) in evaluating various areas of finance
- Common AI tools that help manage daily and administrative tasks across the organization
- Automated CFO dashboards that provide real-time data
While adoption is accelerating, many organizations still lack a clear roadmap for implementation and usage. They may struggle to define ownership of initiatives and alignment of tools with business objectives. In addition, many leaders worry about the security of their organization’s data. These concerns reinforce a key lesson from prior years: technology alone does not create value but must be securely integrated into a firm’s culture and strategy (long and short term).
Forvis Mazars offers AI integration consulting and AI strategy services to help organizations gain a competitive edge by responsibly governing, scaling, and extracting value from AI.
CFO Role Continues to Evolve
As organizations navigate rapid technological change, the CFO role is expanding beyond traditional financial stewardship. Today’s CFOs are expected to be strategic leaders who drive innovation and enable digital transformation.
The role may now include serving as a strategic advisor, leveraging data for decision making, supporting growth initiatives from leadership, and communicating effectively with all of the company’s stakeholders (internal and external). Data is abundant, but its value lies in relevance. Modern CFOs focus on identifying and using data that provides actionable insights, enabling smarter decisions and better forecasting.
Forvis Mazars offers CFO & Business Consulting services to help CFO teams solve complex business problems through customized technology-enabled strategies.
Acquisition-Driven Growth
The industry is experiencing record highs in transaction deals, which is driven by labor shortages and succession across fragmented trades. Private equity share of mergers and acquisitions (M&A) surpassed corporate/strategic buyers for the first time. Recurring revenue businesses are commanding premium valuations from sponsors.
Forvis Mazars provides Transaction Advisory services with professionals who have completed due diligence engagements on billions of dollars in transactions across a wide range of industries.
Financial Discipline Starts Earlier Than Ever
It’s important for organizations to integrate financial discipline at the earliest stages of a project life cycle. They should keep these concepts in mind:
- Estimating, preconstruction planning, and job costing are the foundation of financial performance.
- Errors or gaps at the front end of a job often lead to downstream challenges, including cost overruns and bonding pressure.
- Collaboration between financial leaders and operational teams is necessary to ensure alignment from day one.
Today’s environment, where cost volatility and tighter margins are now normal, requires companies to strengthen the link between preconstruction and financial reporting.
Real-Time Data & Visibility Now Necessary
As construction firms face increasing complexity, the demand for real-time financial visibility continues to grow. Key discussions included:
- The importance of accurate job cost data to support decision making
- The role of ERP systems in centralizing financial and operational data
- The growing use of predictive analytics and AI-powered forecasting tools
One recurring message is that technology is only as effective as the data behind it. Organizations must prioritize data quality and integration to fully realize the benefits of their systems. Forvis Mazars can help you leverage your data to help improve performance.
Risk Management Expanding Beyond Historic Boundaries
Risk management is top of mind among leaders, reflecting continued pressure from rising material costs, tightening bonding capacity, and increasing insurance requirements. Topics included contingency planning in contracts, strengthening internal controls and audit readiness, and managing relationships with sureties and lenders.
Risk decisions are increasingly being made long before a project reaches a job site. Finance, operations, and preconstruction teams are being asked to collaborate earlier to address issues such as contract terms, bonding capacity, and cost escalation.
Workforce Remains a Critical Challenge
Employment in the industry continues to fluctuate across various markets in the United States. Technology is starting to help address some of the labor shortages both in the office and out in the field.
Like prior years, workforce pressures were an underlying theme among organizations. Key considerations included:
- The need to develop internal talent pipelines
- Leveraging technology to help improve productivity
- Enhancing collaboration between finance, operations, and project teams
Forvis Mazars can help stabilize operations through outsourced accounting, software solutions and improvements, and executive search.
Peer Collaboration Helps Drive Value
The conference itself reinforced the value of peer collaboration, with sessions providing opportunities to share real-world issues and discuss potential solutions. Practical, peer-driven insights were offered through roundtable discussions, breakout sessions, and informal networking. Forvis Mazars, as a principal partner, is heavily involved in leading CFMA peer groups.
Navigating the Challenges Ahead
The conference reaffirmed CFMA’s commitment to empowering financial professionals in construction with the tools, knowledge, and community needed to thrive in a rapidly changing environment. One aspect that stood out at this year’s conference is that many challenges facing finance construction professionals are not new. Labor shortages, project risks, and margin pressures have been recurring themes for years. However, firms that successfully connect financial expertise with operational decision making should be well positioned to thrive.
How Forvis Mazars Can Help
Forvis Mazars combines solid accounting and financial performance with long-range vision to help contractors reach their goals. If you have any questions or need assistance, please view our Construction services or reach out to one of our professionals.