What has become increasingly clear over the years is that the construction industry has become a large consumer and adopter of technology. In fact, this doesn’t only apply to general contractors, but specialty ones as well. As such, using a construction software platform can serve as a foundation for future growth and greater financial success, no matter the size of your company. With unified back office and field capabilities, specialty contractors can improve how they bid, plan, staff, run, monitor, and close out self-performing projects.
Here are 10 reasons why specialty contractors should invest in construction software:
1. Elimination of Disparate Systems
Specialty contractors shouldn’t be limited by siloed software packages that force them to compromise data integrity and functionality. Implementing a single, construction-specific platform will help them save money and simplify workflows by reducing the number of tools they need to manage their business.
2. Transparent Reporting
Specialty contractors are generally required to provide completely transparent reporting for billing purposes. Using a construction software platform enhances accountability by ensuring that reports are current, consistent, and accurate.
3. Reduced Costs
While implementing a construction software platform requires an upfront investment, what is event is the system’s ability to reduce labor costs over time. One way this has been proven is by calculating the labor costs labor costs associated with wasted time (i.e., the time spent on redundant, and error-prone manual processes), which, in turn, can be used to estimate the money that can be saved by automating and centralizing manual processes.
4. Increased Efficiency and Productivity
A construction-specific software platform will enhance efficiency and productivity by automating and synchronizing business processes. As a result, data entry and retrieval will be faster, easier and less prone to errors, which will improve the bottom line.
5. Enhanced Security
By choosing a platform that meets or exceeds best practices and standards for security, Specialty Contractors can reduce the risk of external data breaches. An advanced platform will also provide role-based access controls, so users will only have access to the information they need to fulfill their responsibilities.
6. Improved Cash Flow
Many construction software platforms in the market today have robust invoice processing capabilities, on top of features to optimize payroll processes, project budgets and cost management.
7. Smarter Decision-Making
The use of a robust construction software platform will provide users access to critical information in real-time, as well as a single source of truth to help optimize processes. At a more granular level, this translates to more accurate cost forecasting and estimating, better management of materials and assets, and enhanced proficiency at controlling, tracking, and fine-tuning work in the field.
8. Sustained Competitive Advantage
One way specialty contractors can embrace technology to attract more customers is to implement a construction software platform that sets the stage for operational consistency, resource optimization and reliable performance reporting.
9. Greater Agility
Decision makers should be able to make quick decisions in order to tackle challenges and changes to keep their businesses moving forward. With the use of legacy systems, this becomes very challenging.
10. Enhanced Ability to Attract the Next Generation of Top Talent
The use of the latest tools plays a role in attracting the next generation of talent, as they typically show signs of being early adopters and users of new technologies.
By introducing advanced construction software solutions into their technology stacks, Specialty Contractors will set the stage for future success.