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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