technology

Construction Software Streamlines for Savings

March 5th, 2014  |  Published in technology

construction softwareAn 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 free case study buttonDownload 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.

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Web-based Construction Software Increases Collaboration

February 14th, 2014  |  Published in technology

web-based construction software collaboratesConstruction business leaders realize how web-based construction software solutions are changing the way contractors collaborate internally as we as with architecture, engineering and construction (AEC) firms.

This solution, which allows access to and sharing of documents, schedules, budgets, and more via Internet access, can improve efficiency and accountability while helping contractors to save time and cut costs.

Web-based construction software streamlines workflow and communication among project managers, superintendents, owners, subcontractors, back office, and other players inside and outside the business. This speed and real-time insight allows decision-makers to act quickly with accurate details to address problems as they arise and to prevent negative impacts to budgets and timelines.

By leveraging this solution, construction business can better ensure compliance, document control, supplies and inventory, proper project scheduling, clear customer communication and satisfaction, and budgeting and forecasting. Accountability is enhanced with stakeholders having a view into relevant documents to stay on track and informed as projects progress.

Web-based systems are attractive to many contractors because instead of buying a system and installing on computer(s), users pay a subscription fee to lease the solution, which reduces upfront costs, requires less maintenance, and allows information to be accessed from anywhere for great convenience.

Watch Free DemoWatch a personalized demo to see how you can work more efficiently with anytime/anywhere access to valuable information.

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Construction Procurement Software Cuts Costs and Risks

January 29th, 2014  |  Published in technology

procurement-solutions-pie-chartMore and more contractors are putting a greater value on managing procurement and inventory and rely on estimating systems and construction procurement software to handle it efficiently and accurately.

You may ask ‘why is this becoming an emerging popular investment?’ When inventory is not tracked properly, companies are left open to theft and items in stock that go unused. These issues directly impact a company’s bottom line. Purchasing agents lose track of inventory counts, leading to unnecessary purchases, which produces a drain on cash and lower profits.

When construction workers are onsite with no materials to complete the job, their time is wasted (causing unrecoverable staff or subcontractor costs) and the project is delayed. Similarly, if materials are delivered to a site before workers arrive or are available to use them, they could become damaged or stolen.

And when material procurement is not coordinated with the project schedule, cash outlay is increased because the back office cannot bill the customer for these materials. This is a direct drain on cash flow.

 On the flip side, using construction procurement software can help contractors improve cash flow, accuracy, and cost control. Plus when all applications work together in a seamless solution, business are able to further streamline processes and mitigate risk for best possible profit.

Take for example, a mechanical contractor that implemented construction estimating and procurement software and were able to then easily find pricing data on materials, evaluate labor for optimal productivity, track materials purchased, and have instant access to purchasing history to simplify their follow-up activities.

The company’s purchasing executive explained:

“Having instant access to our purchasing history really helps with the follow-up process. We are able to more easily locate materials, determine when they came in, and keep all the necessary details in the system. Before having this software, we had no way to capture, track, or manage our procurement data.”

download free infoDownload this free case study to learn more about ways this construction company uses construction procurement software to save time and control costs throughout the estimating and procurement process.

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Web-Based Construction Software Impacts Accounting

January 15th, 2014  |  Published in technology

Aweb buildingdvances in technology that impact contractors, and more specifically their accounting practices, include web-based construction software.

For one, take cloud-based solutions, which can help free up cash flow and eliminate need and expense for on-site IT manager. Plus these solutions allow easy and secure access by accountants to handle reconciliations and instant reporting to the owner. Accounting firms no longer require paper reporting or need to make a trip to your office to handle business activities.

It’s also worth noting that all-in-one construction software solutions can process critical information from accounting and instantly update the owner’s dashboards, providing the valuable information and analysis needed to make timely, confident decisions. The entire company is empowered when project managers easily have the accounting and job costing information required to effectively and profitably manage projects.

Furthermore, with web-based construction software, along with mobile solutions, companies can best manage projects through daily field reports and access job costs and project documents at any time. And management gains visibility into project and company performance, which is critical to staying competitive and maximizing profits on every job.

With advances in technology, such as web-based construction software, contractors can stop wasting time searching for data and chasing down answers. It’s simple to run a report instantly and find the information needed without having to wait on anyone. This keeps business at the speed of technology – and that’s fast!

download free guideDownload the free best practices guide that addresses four key ways that contractors successfully use mobile technology in the field to improve visibility, communications, and control.

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