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Industry Insight Tips & Advice Ultimate Guide

The Pains of Data Entry and How To Solve Them

Few industries can rival the construction industry’s reliance on data. With so many moving parts in the form of contractors, subs, materials, inspectors, compliances, and accounting, having accurate data to work from is critical to keeping the job on track. However, the industry’s approach to data entry is antiquated at best.

But when someone does something long enough, they may struggle to realize inefficiencies or that there are better ways to do things. This couldn’t be more true for the construction industry, as many contractors have simply accepted the pains of data entry. But, there is a better way to get the job done with more speed, accuracy, and corroboration.

The Challenges of Data Entry

Data entry gets a bad reputation, and it’s usually for good reason (or several, for that matter). The following are some of the challenges that contractors face with data entry, and they certainly contribute to data entry’s bad name.

1. It Can Be Slow

Data entry is a painfully slow process. First, someone has to record the data—something that is often done manually in construction. Then, someone needs to sit down and enter the data into the system, piece by piece. Finally, that data is then used to form different reports and values, helping the contractor make informed decisions.

All of this takes valuable time from at least one of the contractor’s staff members, but likely three or four. This time spent can quickly equate to money lost, especially if those reports don’t contain the latest data or an error renders them useless.

2. It Can Be Inaccurate

Any time a human is responsible for data entry, that data is susceptible to errors or inaccuracies. Whether it’s that a decibel is in the wrong spot, the person entering the data can’t read the handwriting of the person who recorded it, or they’re inputting the data in the wrong place, mistakes will abound.

One small error extrapolated over several reports can be a serious issue. Not only can this cost the contractor all of the value they could’ve hoped for from the reporting process, but they might make critical decisions based on data they believed to be correct or up to date, only to find out it’s not.

3. Storing and Organization Can Be a Pain

Getting data into a system is one thing. Storing it and organizing it is an entirely different animal. With the amount of data that a typical project creates, file cabinets full of reports and data points just won’t cut it anymore. But, electronic reports saved individually to a local storage system aren’t much better.

Contractors that aren’t using a platform to sort and store their data are wasting time and potentially money. It can take longer to compile a report, make decisions, or avoid mistakes. Conversely, when that important information is readily at-hand, contractors can be more nimble and make better decisions.

4. It Can Be Hard to Access

Accurate, well-organized data and the reports that it comprises are great, but accessing them can be a nightmare. A report stored on a localized system back at the office won’t help with game-time decision-making, leading to contractors choosing between wasting time or flying blind, both of which can be very costly mistakes.

Also, poorly organized data can affect the way business is handled. Investors, executives, and partners rarely enjoy waiting for reports just to see how the latest project is stacking up. And, they want to know if things are on track with the very latest data. This situation can get even worse when the contractor, their clients, and the other parties are using different systems to access their reports.

Construction Management Software: Data Entry Solution

Luckily, construction data entry and many of the issues that go along with it are easily solved with Premier Construction Management Software.

1. Automated Workflows Reduce the Opportunity for Errors

One of the best ways to reduce data entry errors is to simply reduce data entry. Premier Construction Software provides automated workflows that allow users to input data and automatically distribute it to the folks that need to review, approve, or deny it. Since the staff isn’t re-entering the same data on several reports, there are fewer opportunities to introduce errors.

2. Gain Access from Anywhere

Premier’s all-in-one software solves data access issues, as well. By using cloud-based storage, Premier allows users to review data, reports, and even drawings from anywhere in the world. All they need is a web-enabled device. Contractors, clients, and decision-makers can quickly check the documents to make better decisions at the moment.

3. Standardized Systems

One of the most important aspects of all-in-one construction software is standardizing the systems which everyone uses. Rather than using four or five software platforms in-house to store and view documents, or potentially more across several clients and subcontractors, Premier provides access to several parties to the same platform. Again, this reduces the opportunity for error but also ensures everyone has access to the same data.

4. Automatic, Real-Time Updates

Data is only accurate if it’s up to date, and that’s one of the most significant hurdles that Premier’s all-in-one software handles best. Every time a change occurs within the system, whether it be a budget item, a schedule change, a compliance expiry, or a materials change, a whole-system update is triggered.

Any report affected by these changes will automatically reflect the new value. Anyone accessing those reports will see the most up-to-date data, allowing them to make the best decision possible with real-time information.

Simple Process

The biggest benefit of streamlining the data entry and management process with Premier Construction Software is how easy it is to implement. Premier’s team will help contractors implement their software, training their staff to use each of the features seamlessly. And, if any issues arise or staff has questions, each company will have one account manager to help them navigate the challenge.

Contractors using Premier software will be able to set up their own customized workflows, allowing them to use real-time data to create forecasting reports, job costing, and accurate billing. This translates to less time spent entering data, and fewer mistakes—something all construction companies should strive for.

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Author Biography:

Tom Scalisi has over 15 years of experience working in the trades. Since moving to full-time freelance writing, he has developed a passion for helping construction companies grow. He enjoys teaching contractors how technology can streamline their businesses and educating them about their rights during payment disputes. 

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Industry Insight Tips & Advice Ultimate Guide

Why Embrace the Future of Automation in Construction

For construction companies, time is money. Both in the field and the office, time wasted is money lost. Using out-of-date processes and multiple software programs can quickly eat into slim profit margins. Construction companies must rely on technology to make their processes faster and avoid errors. If they don’t, they will continue to spend money and time fixing problems and repeating work.

Construction’s future?

Although no one has a crystal ball to tell exactly what the future holds, here’s where we think construction is headed:

[su_animate type=”fadeInLeft”]Automation[/su_animate]

Smart contracts will make the payment process faster. Technology will assess how much of the work has been completed, and payments will automatically be distributed to those contractors who have completed the work.

The software will analyze compliance documents, and automatically notify all pertinent parties when insurance or licenses have expired. Contractors will be able to submit compliance documents directly through a portal, where the software will analyze them and gather the required information.

All the documents that pertain to a specific project will be organized and searchable in one location. All team members will have access to these documents, and paper files will be a thing of the past.

Accounts payable invoices will be scanned by software, and the information will be automatically entered into the accounting system. The software will provide analysis and let operators know when contracts are overbilled or change orders are not updated.

Payments to subcontractors and suppliers will be processed automatically by the system, without the need for checks or other paper documents. Payments will be tied directly to the completion of the work.

[su_animate type=”fadeInLeft”]Artificial intelligence (AI)[/su_animate]

Project software will be infused with artificial intelligence that allows the software to provide predictive analysis based on past project data. As contractors process projects through the software, they will learn what activities cause the most delay or create the most risk and remind users when these possibilities occur.

Using the Internet of Things (IoT) and wearable technology, the software will be able to analyze the completion of work in the field. It will then compare that information to the project schedule to determine if there are any delays. Parties will be notified when the schedule slips, allowing the team to proactively respond.

[su_animate type=”fadeInLeft”]Machine learning[/su_animate]

Machine learning, a subset of AI, will assist estimators in project bid analysis, allowing them to select projects they will be the most successful on. AI will also identify the most common bidding errors and correct them before they bid goes out.

Photos will be taken of each worker as they arrive on-site and will be analyzed to determine if the proper personal protective equipment (PPE) is being worn. If there are missing items, the system will notify the worker and their supervisor, allowing them to correct the problem.

Problems with the status quo

Currently, construction teams work with a hybrid of software and paper documents. While some contractors strive to go paperless, many still rely on paper documents for certain activities, like material takeoff. This dual approach leaves contractors open to the following problems:

[su_animate type=”fadeInLeft”]Lost time[/su_animate]

The process of entering and analyzing information by hand takes more time than an automated system. Systems are available that capture data automatically directly from documents and provide analysis, saving contractors time.

[su_animate type=”fadeInLeft”]Lost information[/su_animate]

Paper documents are often lost or misplaced when they are filed incorrectly, or not filed at all. Even teams that rely on software often use multiple systems for different purposes (estimating, project management, accounting). This confuses users who don’t know where to look for the information they need. This takes extra time to determine the correct system and find the data they need. If documents are lost or misplaced, more time is lost in searching for them or re-creating the documents.

[su_animate type=”fadeInLeft”]Errors are more likely[/su_animate]

An experiment in 2009 showed that data entry workers made up to 10.23 errors when entering data from thirty spreadsheets. Data entry errors can cost companies millions of dollars. Workers can spend more time searching for errors and correcting them than in the initial data entry.

[su_animate type=”fadeInLeft”]Hidden costs of mistakes[/su_animate]

Besides lost time finding and correcting mistakes, it has been shown that incorrect data can cost companies up to 30% or more of their revenue. A 2018 Goldman Sachs report stated that the direct and indirect costs of manual paper invoice processing are $2.7 trillion for businesses around the world. The hidden costs of manual data entry can be enough to make or break your business.

Benefits of new technology

Embracing automation and other technological improvements can save companies real money.

  • Work is performed faster.
  • When there is only one integrated source of information, less time is wasted searching.
  • Accuracy is improved with automatic data capture.
  • Time and costs are saved by limiting time wasted on rework, searching through data, and fixing errors.

[su_animate type=”fadeInLeft”]In a nutshell?[/su_animate]

If your construction company is wasting time on manual processes and paper documents, it’s time to embrace automation. Premier Construction Software can help you reduce errors, speed up data entry, and waste less time looking for information. We bring the power of automation, artificial intelligence, and machine learning to construction accounting and project management. For more information on how our software can save you time and money, contact us today.

[su_button style=”soft” background=”#3eb54b” size=”4″ wide=”yes” center=”yes” radius=”round” icon=”icon: long-arrow-right” text_shadow=”0px 0px 0px #000000″]Get a demo[/su_button]

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Tips & Advice Trends & Technology Ultimate Guide

Enhancing Construction Roles With All-in-One Software

Successfully taking a construction project from an idea to a finished product requires the precision of an orchestra conductor. With so many moving parts required to make the job a reality, a single point of reference that everyone can look at to make sure they’re in rhythm. While a conductor’s baton works for the band, all-in-one software does the trick for a construction company.

But, what is all-in-one software, how does it work, and what are its benefits? We’ll discuss those points and how all-in-one construction software enhances the roles of construction personnel in this article.

What is an All-in-One Construction Software Solution?

Construction is somewhat of an old-school industry, though many contractors have adopted business and project management software over the years. These programs take a specific task (or set of tasks) and streamline or automate them for the contractor. The problem is that many contractors use several types of software, and they don’t always play nicely together. All-in-one software solves that very problem.

All-in-one construction software allows contractors to keep all of their most important tasks, documents, plans, and processes under one application. Instead of running three of four different types of software or apps, transferring and updating data, and creating separate spreadsheets to organize it all, an all-in-one software program can handle it all.

In practical use, all-in-one software allows construction personnel to stay organized and updated. For example, when an electronic change order is accepted, the job’s overall budget might change automatically. Or, when sending an electronic RFI, access to the drawings affected will accompany it. And, any change on the project will automatically update job costing reports, making sure that the project is still on course. 

For many contractors, those tasks fall under different software programs or even hard copy filing systems. Some companies aren’t even using software designed specifically for the construction industry, meaning they aren’t benefiting from tailor-made solutions to streamline their business and boost their profits. All-in-one software does it for them. 

How an All-in-One Software Solution Can Enhance Roles

With so many different facets to all-in-one software, the folks filling different job titles within a construction company can all benefit in different ways. The following are some specific examples of how this centralized software can enhance many roles within a business.

Owners/Executive Board

At the highest level, all-in-one construction software is all about information and transparency. For a smaller company, this solution provides the owner with real, hard numbers that they can take to a bank for financing a project or a potential partner looking to buy into the business. With an up-to-date outlook on the company’s current projects, profitability, and even assets, making big moves that will propel the business forward is much easier.

For an executive board, all-in-one software contains everything they need to make important decisions. Current data and job profitability on large projects can be challenging to collect, but with one program managing it all, the job becomes much easier. Should the board need to make important decisions, present information to shareholders, or make a decision regarding the company’s trajectory, the data is at the board members’ fingertips.

Project Management

Project management is a stressful role, and anything a company can do to streamline it for their PMs goes a long way toward enhancing the role. 

Collecting all of the reports a project management team might need under one solution has many benefits. First, since all of the data, values, and documents update automatically, they’re more likely to be looking at the latest, most accurate data. This allows them to make clear decisions in less time with more accuracy.

Also, the project management team can set up customized workflows that will automatically send data and documents to the folks who need to see them. This allows the PM team to shift their focus from distributing and collecting the latest documents and drawings and putting that focus on the job at hand.

Design Professionals

For design professionals, electronic approvals and drawing management can make a huge impact on their workflow. Without all-in-one software, changes in drawings can be challenging. While emailing a document isn’t so difficult, getting a signature required to move forward often requires hand delivery—a workflow annihilator.

With electronic approvals and drawing management, designers can send documents for review and instant approval. Decision-makers can open these documents from any mobile device, review them, and approve or reject them in real-time.

At the same time, RFIs sent to designers for changes in materials or layout are just as easy. The designer can open the request, review the document, pictures, or drawings, and quickly give the okay or offer another solution. This alone helps keep the project on track.  

Finance and Accounting

There is possibly no role in a construction company so inundated with reports and data than the finance and accounting department. These folks are constantly watching the line items, profitability, accounts, and more, and trying to keep them up to date. With all-in-one software, much of that data collection is automatic.

Consider this scenario: A change order occurs and the subcontractor is now submitting a payment application that’s significantly higher than expected. Without all-in-one construction software, this will throw the budget for a loop and leave the accounting staff scrambling to find where the money is going. 

For a team equipped with an all-in-one solution, that change order would have updated the budget automatically. This gives the accounting department the information they need to justify the budget and make decisions moving forward. And, for any decisions requiring approvals, automatic workflows can send these documents and retrieve electronic signatures in real-time.

Field Personnel and Subs

When it comes to building the product that the project owner will actually see, field personnel and subs are the folks for the job. To ensure they’re building exactly what’s expected, up-to-date drawings are an absolute must.

Centralized drawing management offered by an all-in-one solution enables them to instantly check that they’re working from the most updated drawings. Rather than someone driving to the office and grabbing a copy of the latest drawings, these documents are now available on any mobile device.

And, let’s not discount the savings in delays. Confusion, discrepancies, changes, and shortages all have their ways of bringing a project to a standstill. Rather than workers and subs sitting idly, instant RFIs, electronic approvals, and real-time change orders improve communication and keep the project on task. While delays are inevitable, these features lessen their impact and keep the budget intact.

Project Owners

Project owners rarely have access to management software of any kind, however, they do see the benefits. Working with a construction company that uses an all-in-one system means better communication, smarter decision-making, and a feeling of being more involved. Making the project owner part of the workflow or sending documents that require approval helps the owner feel involved, leading to a better overall experience.

The Benefits of an All-in-One Solution Spread Company-Wide

Regardless of the project participants’ role or function, all-in-one software can streamline and simplify their job. Between instant approvals, streamlined organization, and drastically improved communication, these applications can change the way a company runs. And, as a result, increased profitability is a reality.

Check out Premier Construction Software to see if it fits your company’s strategies and goals.  Our construction management and accounting software provide teams with the tools they need to take advantage of these technologies. Schedule a demo by contacting us today.

We’re more than just construction financial software. We’re built to help your business.

Author Biography:

Tom Scalisi has over 15 years of experience working in the trades. Since moving to full-time freelance writing, he has developed a passion for helping construction companies grow. He enjoys teaching contractors how technology can streamline their businesses and educating them about their rights during payment disputes. 

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Why is Drawing Management Important?

Today’s construction industry is finally starting to embrace technology. From project management programs to accounting software designed specifically for the industry, improved workflows and team-wide access are increasing efficiency. Drawing management is one of the areas most affected by new technology, and the results are tremendous.

But what is drawing management, and why is it important? And what can it offer the construction industry and your company? Keep reading to find out.

What is construction drawing management?

In today’s world of information at our fingertips, people outside of the construction industry might be shocked if they saw the stacks of paper plans still plaguing some projects. Sure, the architect or designer has these docs on their computer and local server, but everyone else might be working from a set of paper drawings. And, as revisions come in, those paper drawings don’t update themselves.

That’s the issue that construction drawing management aims to solve. Drawing management, when done correctly, is a central database of drawings that everyone involved in the process can access. They’re most effective when cloud-based, allowing anyone in the field or office to access the latest drawing at a moment’s notice.

Why is drawing management important?

Having instantaneous access to project drawings is obviously a benefit, as anyone can look at the same drawing, regardless of their role and location. However, there is more to it than that.

Drawing management offers clarity

Imagine a scenario where a question pops up on the job site. Maybe it’s an issue with a material, or the scope of work doesn’t jive perfectly with the conditions at the site. In the past, the designer would have to go to the site or wait for the PM to upload tons of pictures to an email. With a drawing management system, the process is streamlined.

Now, the PM can access the drawings from the tablet while the designer pulls them up on their computer screen. While on the phone, the two can look at the same drawing, manipulate, and make notes, mark-ups, or revisions in real-time.

Drawing management offers real-time revisions

Too often have site personnel worked off an older version of the drawings only to find out things changed and their work was incorrect. This causes delays and waste, both of which are the enemies of progress and profits. Sure, you can blame the crew or the management team, but that doesn’t change the problem at hand.

Project drawing management alleviates this issue by allowing for real-time revisions and updates. As the team on-site accesses the drawings, they’ll have the most updated version at their fingertips.

Drawing management centralizes storage

Document storage can be a hassle. Between storing drawings on different drives, sending revisions through email, and granting access to everyone who needs it, finding a document at the moment you need it isn’t easy.

With a drawing management system, you can store those documents in one place. And with automation, a drawing management system will ensure these documents are sorted properly and easy to find. Maybe even best of all, some drawing management systems offer unlimited storage, preventing your company from running out of the ever-more-expensive digital space.

Drawing management integrates with other processes

Once you have an established drawing management system, it should integrate with the other processes your company uses. For example, an RFI can be accompanied by a tag that takes the team directly to the drawing in question. Also, the team can tag change orders to drawings, allowing anyone reviewing the change a better overview.

Integrating drawing a management system with these processes offers a clearer scope, streamlines approvals, and allows the team to stay on the same page. 

Drawing management can be critical to your business’s growth

“Streamline,” “automate,” and “centralize” tend to be buzzwords circling around drawing management, but they truly are keys to your business’s growth. By implementing a drawing management system, you’re enabling your team to work faster and smarter while also focusing on the most important tasks.

Change the game with drawing management systems

Moving to a drawing management system is obviously critical to growing and getting a leg up on the competition. But not all systems are the same; some have more to offer than others.

Look for a drawing management system that offers unlimited storage and operates on a reliable cloud. Also, be sure it has all the features you need from a system in order to integrate with your chosen construction management software. Or, better yet, choose a system that rolls everything into one easy-to-use application, like Premier Construction Software.

Premier Construction Software is a true cloud, all-in-one accounting, job cost, project, document, and drawing management solution designed to meet the needs of GCs, Developers, Design-Build, and Homebuilders. Trusted by thousands of companies, Premier partners with forward-thinking, progressive construction companies to provide a fully integrated solution for office and field staff operating on Mac, PC, and any mobile device. Premier operates in North America as well as Australia, providing a true cloud solution that meets the needs of both markets today.

Check out Premier Construction Software’s drawing management system to see if it fits your company’s strategies and goals. Schedule a demo by contacting us today.

Author Biography:

Tom Scalisi has over 15 years of experience working in the trades. Since moving to full-time freelance writing, he has developed a passion for helping construction companies grow. He enjoys teaching contractors how technology can streamline their businesses and educating them about their rights during payment disputes. 

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Tips & Advice

Is Manual Data Entry Costing Your Business? Why Automation is the Solution

If you think that investing in software to automate your systems will cost you more money than doing everything manually, you’re not alone. Many businesses operate under the assumption that paying for automation is more expensive than paying people to do things. The truth is there are hidden costs to doing things by hand, and those costs can significantly affect your bottom line.

We’re going to look at the hidden costs you may not realize you’re incurring by doing your data entry manually. The magnitude of some may surprise you.

1. Increased error rate

Workers entering data manually, without verification, can have an error rate as high as 4%. That means for every 50 entries, two are wrong. In an experiment in 2009, it was shown that data entry workers made up to 10.23 errors when entering data from thirty spreadsheets. This is the nature of human data entry.

When errors involve money, the stakes are high. These errors could lead to over-and underpayments, over-and undercharging customers, disruptions to the accounting and auditing processes, and may lead to financial trouble. Data entry errors have cost companies millions of dollars.

2. It takes time

Manual data entry takes time. The average typist can perform 10,000 to 15,000 keystrokes per hour. Depending on the amount of data and its form, it can take even the fastest typist hours to perform data entry. If the data requires comprehension or analysis before entry, this slows down the process even more.

It could take a competent operator between 8 and 10 minutes to enter 400 units of data. This may not seem like much, but if the volume of data is high, it can cost your company valuable time that could be spent on other workflows, like analyzing the data.

3. Can’t focus on important business tasks

With so much time spent ensuring that the data entered is correct and finding and fixing errors, there is no time left to work on the business. Managers spend their time ensuring that the data they’re reporting is accurate and less time actually analyzing that data. A survey found that 37% of manufacturing professionals don’t trust the reliability of manually entered data when making strategic decisions. If you can’t trust the data you’re getting from your team, how can you grow your business or take on additional work?

4. Inhibits business growth

When management receives data, it often makes decisions based on that information, whether it’s correct or not. These decisions may inhibit the growth of the business. For example, a costly mistake can lead managers to believe a project is over budget when it’s not. They then make moves to cut company spending to protect the company, when instead, they should be investing in future growth.

5. Hidden costs

Most companies think automation costs more than entering data by hand. The truth is there are hidden costs to entering data manually. There’s the obvious labor to enter the data, then more labor to check for mistakes, and more labor to fix the mistakes. At each level, it becomes more expensive and time-consuming to detect and correct mistakes.

It has been shown that incorrect data can cost companies up to 30% or more of their revenue. In particular, a 2018 Goldman Sachs report stated that the direct and indirect costs of manual paper invoice processing are $2.7 trillion for businesses around the world. The hidden costs of manual data entry can be enough to make or break your business.

6. It’s boring

Continually spending days or hours doing mindless data entry can lead to employee dissatisfaction and turnover. When workers spend hours keying in the same information, they are bound to lose focus, which increases errors and leads to frustration. Data entry work is repetitive and tedious. 55% of employees in a survey cited the collection, uploading, and synching of data as the least productive part of manual data entry. When employees don’t feel productive, their morale lowers and they are then more prone to make mistakes.

Automation is the solution

How can companies save themselves the time and money that is lost through manual data entry processes? Automating as much as possible is one way to recoup these costs. By using machine learning and automation, the software can automate much of the data entry process, leading to fewer mistakes and speeding up the process.

Premier Software uses AI, machine learning, and automation to speed up invoice entry and other repetitive tasks, so you can spend time working on your business and less time entering data. For a demo of how our automation works to save you time and money, schedule one today.Author Biography:

Dawn Killough is a construction writer with over 20 years of experience with construction payments, from the perspectives of subcontractors and general contractors. Dawn has held roles such as a staff accountant, green building advisor, project assistant, and contract administrator.  Her work for general contractors, design firms, and subcontractors has even led to the publication of blogs on several construction tech websites and her book, Green Building Design 101.