The construction industry has been resurgent in the past few years, recovering from one of the more devastating recessions the United States has seen in decades and finally reaching a level of stability across the nation. However, as is the case in virtually any surging economy, competition is heating up significantly among industry players, and only the best-managed, most efficient and productive firms will enjoy the full breadth of opportunities now taking shape.
Construction management software can go a long way toward boosting performance across the board, especially when it is specifically developed to cater to the unique needs of organizations in the industry and can be further customized in accordance with objectives. With all of the moving parts involved in construction project management and general operational oversight, not using the software can hold a business back from reaching and sustaining optimal performance.
Fewer companies – regardless of industry – are still managing their core processes with pad-and-paper or outdated systems, and more continue to expand their investments into apps and other tools to excel in their marketplaces. With the right software in place, construction firms can begin to increase revenues, reduce waste and progress from an operational standpoint, and specialized software will help to achieve these goals a bit quicker.
Here are seven top reasons to leverage and reap the benefits of construction management software today:
7. Integrated experiences
This is perhaps the most important and prolific advantage of using modern construction management software, in that many of these tools will be comprehensively integrated with one another for the most seamless user experiences possible. When the various management tools involved in the solution are integrated, data management will be far easier and more beneficial in the grand scheme of decision-making and oversight.
Spending on IT can also be reduced through an integrated management solution that brings various moving parts all under one roof, as packaged deals and a lack of weighty costs for incompatible services will not be nearly as common. Construction leaders should always work to identify a provider that can get the integration procedures done quickly and accurately for maximum functionality and optimal performance across management frameworks.
6. Enterprise resource planning
ERP software has spread quickly across industries, as the technology can help to dramatically reduce errant decisions within resource planning frameworks that can lead to poor profit margins or untimely completion of various projects. What’s more, solutions are available to help construction firms advance from a strategic standpoint, allowing for planning that goes much further into the future and still remains relevant and accurate.
Resources can be difficult to manage when vendors and other counterparts are not consistent, while market landscapes will also impact these matters. With the right construction ERP software, risks can be mitigated and opportunities capitalized upon more fluidly and productively.
5. Risk management
Corporate risk management has always been a challenging but critical aspect of construction oversight, but the volatility that has lingered following the recession makes these matters all the more complex. Companies that still rely on outdated approaches to risk management will not be nearly as resilient to threats and disruption as those that are using the best and most modernized software and other solutions to get the job done.
Risk evolves quickly in construction, and differently for each firm, which is why a tool that has been tailored to the specific needs of each individual firm should be the highest on the provisioning list moving forward.
Modern project management solutions will generally include some form of analytics software, which can be used to get more out of the data generated, enhance decision-making accuracy and reduce risk all in one fell swoop. Firms that leverage business intelligence and analytics technology will tend to be more agile, efficient and productive, and in the construction industry, this can mean the difference between the acquisition of a contract or the failure to convert a prospect.
Construction management solutions that include analytics can be used for a range of objectives and needs, from accounting and reporting to new client conversions and customer relationship performance improvements.
3. Content management
Data is becoming more integral to the average construction firm’s success over time, especially as so many new trends are generating massive volumes of information that must be properly handled. Content and document management tools included in construction management software can help to reduce the risk of loss or expose sensitive data, improve decision-making through a more timely reception of insights and strengthen collaboration.
Always look for a management solution that includes integrated document management to ensure that all of the moving parts involved in projects are taken care of properly.
2. Change management
As many leaders have already begun to see, the rules of the road in the construction industry are transforming rapidly, as market fluctuations and the introduction of new trends can be highly disruptive when agility is at a minimum. Change management is all about intelligence and fluidity, both of which can be enhanced through the use of cloud-based construction software.
In construction, these tools will generally reduce the strain placed on employees and leaders when major changes are necessary, all the while boosting outcomes of forward-looking strategies.
1. Opportunity management (CRM)
Client retention and prospect conversion can be difficult tasks but are critical to maintaining strong financial performances over time. Construction management software that includes tools related to these needs will tend to boost the intelligence of decision-making and improve the overall image of the brand in the eyes of prospects and current customers.
Econsultancy pointed out that CRM software can also improve relevant collaboration activities and help companies get more out of the client-related data they are generating.
At the end of the day, business leaders in the construction industry need to recognize the importance of efficient, modernized management and deploy the software that most closely aligns with their objectives and requirements. Working with a construction-focused provider can go a long way toward getting these helpful solutions to play quicker.