March 26th, 2014 | Published in business
March 19th, 2014 | Published in business
Innovations in technology, such as online construction project management software, help contractors in powerful, profit-driven ways. For example, cloud-based solutions can help free up cash flow, eliminate IT expenses, and allow easier communication across team members.
Not only does an online construction project management solution provide timely schedules and information, but also helps to eliminate duplicate entry of information, plus improves organization and sharing of documents.
This anytime/anywhere usability makes it quick and easy to keep projects moving and maintain accuracy and accountability throughout the process.
With project management details available online via the cloud, companies can also better manage daily field reports and accessing job costs and documents at any time. With improved visibility and easier insight into project performance, contractors can keep an eye on costs, obstacles, crises, and profit opportunities.
Even beyond the internal team, communication is also widely improved between design professionals, stakeholders, subcontractors, vendors, and more, thanks to documents, schedules, etc. securely available online in an easy-to-navigate solution.
These advancements have proven to save time by eliminating the chase down of answers and approvals, as well as instant reporting at one’s fingertips wherever and whenever it’s needed.
Schedule a personalized demo to see how you can gain convenient access to important project information and documentation to improve profitability.
March 5th, 2014 | Published in technology
An investment in construction software yields a favorable return in a short amount of time and for years to come.
Compared to using manual methods and disconnected applications, construction software allows contractors to save on costs, do more in less time, and reduce overhead.
Magleby Construction proves a great example. Before streamlining communications across the organization, the contractor relied on duplicate data entry and lacked true job costing on projects – wasting time and losing money.
The company’s CFO explained:
“Without the information all in one place, we often got to the end of a project and would have to write-off thousands of dollars in items that were never billed to the customer. It was a constant problem.”
Upon moving to a single solution that allowed the entire team to work collaboratively and productively, the company can more easily make sound business decisions based on accurate financial information. According to the executive:
“We can easily run a financial report on an individual company or a combined financial on the whole organization. This capability does not exist in spreadsheets or when using separate systems.”
He also described additional functionality unavailable in previous methods or other options evaluated. The move to an all-in-one solution delivered significant time and cost savings:
“When reviewing financial statements, we can either look at them rolled up or expanded. So, we can roll it up really tight where it only shows revenue, costs of goods sold, indirect costs, operating expenses, and net profit or I can run details to the account level or the subaccount level. By having those subaccounts and really focusing on costs, we have saved hundreds of thousands of dollars.”
Using construction software that brings together all applications for the company, contractors are increasing savings and efficiency for a powerful return on investment.
Download this free case study to learn more about how this contractor improves time and cost savings by using construction software for improved workflow and visibility.
February 19th, 2014 | Published in business
According to economists, industry experts are finally reporting positive growth numbers for the construction market. Using contractor software has been an integral way that construction businesses have made an investment during slower times to now benefit as the market rebounds.
Technology, like software for contractors has become, for many, a true necessity to succeed against increased competition and improve profit margins.
An article published by SitePrep magazine shares:
“Construction companies are refining their business operations with standardized operating practices and streamlining those processes with the use of software solutions. Estimators, for example, are leveraging takeoff and estimating software solutions to more quickly and accurately bid jobs.”
And it goes across the organization for best success, as the article explains:
“Finance departments have turned to construction-specific solutions that seamlessly manage everything from accounts payable, job ledger and general ledger, to project costing, payroll and purchase orders. [This enables] them to always know true job costs and have rock-solid financial practices to ensure confidence and a profitable bottom line.”
With the ability to access all the data they need, whether they are in the office, walking the jobsite, at home or on the road, contractors leveraging technology are getting and staying ahead of their competition.
Download the free article in its entirety to read more about using contractor software to save time, cut costs, and maximize resources.