December 4th, 2013 |
Lacking confidence in the board room? Construction financial management software may be solution you need to save time, gain insight for decision-making, and increase control of costs and cash flow.
If you are disappointed with what spreadsheets, paper-based processes, and/or generic accounting packages have been doing for your lately, then you could be ready for a fresh relationship with a construction financial management software solution that’s better suited to your needs now and in it for the long-haul with your business growth.
Think about it… your dream relationship would help you eliminate inefficiencies, inaccuracies, and additional obstacles standing between you and your best day-in-day-out productivity! You deserve to tap into your best profit by using financial software designed to fit construction.
Imagine the many ways you would benefit with the ability to:
- Stop redundant data entry
- Streamline workflow
- Know true job costing and performance
- Speed up reporting, including WIP and Bonding
- Automate audit trails for reliable, historical details
- Identify discrepancies and spot losses
- Control cash flow and improve stability
Consider leveraging technology to gain control and analyze important data, simplify workflow, and identify opportunities for new revenue.
Download this free article to learn more about using construction financial management software to improve the accuracy, reporting, and audit trail of your practices.
November 20th, 2013 |
Estimating software for construction helps to save valuable time and improve accuracy. By leveraging this technology, estimators can bid more jobs with speed and improve profit margins with tight, precise estimates.
Contractors using automated methods save hours or days by using digital takeoff technology as well as software to determine what the job will cost.
By getting unquestionable accuracy and eliminating mistakes, estimators can identify new opportunities to profit as well as recognize potential issues before they become costly problems. These time-savings translate into having more time and attention to give to negotiating contracts effectively and proposing profitable what-if scenarios to clients.
Going another step beyond paper and spreadsheets, seamless takeoff and estimating software manages in one central location. That makes it easily accessible, so projects can be tracked efficiently. Project managers value being able to make timely decisions based on the original estimate and not guesswork. They can more easily determine a project’s profitability and drill into details of money lost, issues, delays, etc.
Having historical data in a reliable, electronic system makes analysis and insight easier, and so contractors can see what jobs are estimating and executed best, and new estimates can be generated based on past experience.
Watch this free demo video to see how estimating software can help you control costs, set budget expectations, maximize ROI, and improve forecasting.
November 7th, 2013 |
Construction software plays a critical role in helping construction companies achieve greater efficiency through standardized, repeatable business practices. But technology alone doesn’t create efficiency.
What’s required is a combination of construction software, people, processes, and training. That equips construction business for best success through change and for growing profit long-term.
For one, it’s important that business owners are committed to the change desired in the organization. The owner’s commitment influences everyone else in the company, exemplifying the importance of the transition and belief in the effort and the outcome.
And beyond the owner, the key stakeholders in the company should be engaged in the process at every step. This brings the best ideas to the surface, spreads positive word-of-mouth, and gets these important influencers to take “ownership” of the transition’s success. Having that “buy-in” early and often is critical to embracing change.
Training on the construction software is also a point to be emphasized when committing to change. The systems and processes required typically represent substantial changes to day-to-day work habits. And it’s valuable to demonstrate commitment by having senior managers participate in training and offering resources that help free up staff to truly focus on training.
It may also prove valuable to define ways to reward behavior that supports transformative change. It motivates team members to change behavior to earn the reward and it communicates the earnestness of owners by spelling out that they are willing to pay for those changed behaviors.
Download the free best practices guide that details six ways you can have smooth technology implementations and standardize processes, and so, unleash your full sales and profit potential.
October 24th, 2013 |
Contractors agree that limiting waste is crucial. Construction procurement software helps many businesses better manage procurement and inventory for a significant return on investment.
Of course, all contractors deal with some aspect of procurement, either for specific materials or for services, and most contractors (especially specialty) typically have some inventory requirements.
Problems Without Construction Procurement Software
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.
Without integrated purchasing systems, accounting can accept an invoice for materials or services that are above the quoted/negotiated prices, or even duplicate entries. This will cause unnecessary expenditures. Incorrectly tracking purchases opens the door for being overbilled by suppliers.
Improve Bids, Accuracy, Profit, and More
By levering a construction procurement software solution that’s integrated with all other applications, contractors can improve the following areas of business:
- Optimize Bids – Know all costs allows more accurate bids and better management of overall profit.
- Optimize Workforce – Avoid unnecessarily paying employees or subcontractors, affecting cash flow.
- Accurate Procurement – Stop suppliers from overcharging. Get a better understanding of purchasing history to negotiate better prices. Ensure inventory is getting used to prevent over buying.
- Streamline Accounting – Invoice for materials and labor used in a timely fashion, increasing receivables. Avoid unexpected costs and cash outlay.
- Project Management Review – To manage profitability, project managers need to see information quickly and clearly.
Watch a personalized demo to see how you can better manage procurement for your construction business.