Kane Constructions

About

A multi award-winning construction company

Kane Constructions, a prominent mid-tier construction firm, was established in Melbourne, Australia, in 1973. With an annual turnover of $1B, Kane Constructions operates across the east coast of Australia. Renowned for its healthy financial position and comprehensive risk management, the company assures clients of its reliability and long-term partnership beyond construction projects.

‍

‍

The problem

Concerns of concentrated risk

The construction industry experienced a shift towards rigourous financial scrutiny. As part of this shift, developers and financiers expected builders to conduct thorough financial checks on their subcontractors.

Kane Constructions faced challenges as a growing number of subcontractors were entering insolvency. Kane was concerned about the concentrated risk of too much work to subcontractors who may fall short of good financial health.

The solution

Comprehensive financial assessments

Our company stepped in to assist Kane Constructions with a comprehensive financial assessment solution designed to assess their supply chain financial health. Fiable’s solution provided deep analysis and market intelligence of subcontractors doing high volumes of work for Kane.

• Rapid Turnaround: Delivering financial viability assessments within 1-2 days.
• User-Friendly Reporting: Easy-to-understand reports that can be utilised by individuals without accounting or financial backgrounds.
• Continuous Support: Ongoing support from Fiable’s team of Australian Financial Analysts quickly addressed any concerns or questions.
• Robust Platform: Fiable’s robust platform allowed Kane Construction’s decision-makers and managers to order, review, assess, and approve subcontractor and supplier assessments in one unified system.
• Engagement Process: A streamlined process enabling supply chain contractors to upload necessary documents and engage effectively with Kane.

"The market is rapidly moving down the model of financial due diligence and if you’re not doing this you’re falling behind. The Fiable solution has provided a quick turnaround for the financial viability reports and we obtain the answers we need to make informed decisions."

Chief Financial Officer, Kane Constructions

The benefits

Efficiency and proactive due diligence

Kane Construction’s experienced the following benefits within the company.

• Enhanced Decision-Making: With access to detailed financial health reports, teams could make informed decisions quickly, reducing risks associated with subcontractor insolvency.
• Reduced Costs: By utilising Fiable, Kane could check whether their current supply chain had no financial risks. This reduced the need for costs associated with new suppliers.
• Operational Efficiency: The turnaround time for financial assessments was reduced to just 1-2 days, expediting the entire procurement process.
• Proactive Risk Management: The assessments provided greater information to Kane. This reduced the complexity and time involved in managing subcontractor and supplier information, resulting in fewer delays and less financial uncertainty.

By utilising the Fiable platform, Kane Constructions was able to identify specific financial risks within their largest subcontractor base.

Our focus remains on innovating our services to meet the evolving needs of our clients and the industry at large.

"We went with Fiable to have a look at our largest subcontractors in terms of work remaining and get a feel of concentrated risk for us as a business at a point in time. It's a comprehensive solution that meets our needs."

Chief Financial Officer, Kane Constructions