Largely driven by the ever-changing technological landscape, the construction is rapidly maturing and evolving. Like businesses across all industries, construction companies have come to rely on software and digital tools to perform everyday tasks and complete necessary job functions like communicating with team members, tracking expenses, submitting proposals and more.
Still, many construction companies are unaware of what a comprehensive construction management software is, how it can benefit their business, and whether or not it’s a necessary expenditure.
In this blog, we’ll discuss five reasons it’s worth investing in construction management software.
What is construction management software?
In a nutshell, construction management software is a set of project management tools used to improve and streamline the entire construction process, from planning to project completion. While there are software options that include project management features only, using an all-in-one construction software solution to manage your accounting and project management needs means the data used to drive key decisions is always in sync, up-to-date and reliable.
What are the benefits of construction management software?
1. Improved Communication & Collaboration
Every project, regardless of industry, requires communication and collaboration to complete. Often times, communication barriers can lead to delays, misunderstandings and errors, all of which end up costing valuable time and money. Project management tools improve communication between team members and stakeholders by creating a central platform for real-time collaboration, brainstorming and problem solving. Providing a centralized place for team members to quickly access and communicate about vital project information leads to improved planning and faster execution.
2. Time & Resource Management
Being able to effectively gauge the required amount of time and resources needed to complete a project is critical for timely delivery and success. With construction management software, tasks required to complete every step of a project can be entered, assigned and updated easily. This allows project managers and team members to know what resources and equipment are required, and when, and allows for more accurate forecasting.
3. Reliable Job Costing & Accounting
Having a constant pulse on project costs is essential to running a successful construction business. However, many companies use separate systems for accounting and projecting management that don’t communicate in real-time, which results in errors, inaccurate reports and untrustworthy data. An all-in-one software solution that ensures job costing and accounting data are synced means the information is current and reliable, and thereby allows informed decision making that reduces the likelihood of waste or over-budget issues.
4. Document Sharing & Control
Because every step of a project requires some sort of documentation, construction companies have to deal with a lot of paperwork. A document management system provides a centralized place where critical information (like blueprints, wireframes and specifications) can be stored, managed, updated and accessed by those who need it. Construction documents are often complex and evolving, so having that information digitized, simplified and stored on the cloud saves time and reduces margin of error.
5. Detailed Reports & Insights
Construction management software records every phase in the construction process, and that data can be accessed at any time to analyze a project and to provide valuable insights that allow for informed decision making about next steps. Consolidated dashboards with various reporting options make it easy to digest and consume pertinent information, and provide the ability to drill down into the accounting information to view invoice or payment details, or to identify any red flags or pending approvals that may hinder project progress.
Is construction management software right for your business?
In this blog we’ve touched on five key benefits to using a construction management software and how it can help streamline processes, improve resource planning, enhance collaboration, and provide critical information needed to keep projects running on-time and at-cost—all of which ultimately lead to higher profitability.
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Or, if you’d like to know how our all-in-one solution can be tailored to meet your business needs for maximum impact, click here to schedule a personalized product tour today.
Kathryn Dressler is a content strategist with more than 10 years of experience across the spectrum of marketing services, including blogging, social media, public relations, copywriting and editorial services.