In the construction industry, cash flow is king! It is a daily responsibility for any contracting company. Profit margins are always razor-thin in this industry, which means you need to do everything you can to increase your production and maximize profits. That means projecting job costs, identifying problem areas before they arise, running labor analysis, and constantly measuring productivity. Here are a few tips that will help. Continue reading
More and more contractors are recognizing the need for a fully integrated business management suite that allows for strong collaboration with owners, subs, suppliers, and field personnel. Without a constant link between your job sites and your office, data can get delayed or even lost in the shuffle. With that in mind, project management and accounting software companies are focusing heavily on providing cloud solutions for contractors. But with so many options, how do you determine what solution is best for your company? There are many factors to consider, but one feature is becoming increasingly important.
So far, most remote applications have relied on the “push-pull” method of synchronizing data. For example, a project manager will enter a change order in the field and the data will be sent back to the home office, where it needs to be manually entered or imported into the accounting system. This method has certainly been more convenient than a lengthy phone call or a trip back to the office, but new technology is beginning to make it obsolete. The future of field-to-office communication is real-time, live interaction.
This is one of the key factors you should look for. Your software provider should have plans to implement this technology in the near future if they haven’t already. If not, you may be using a package that has no motivation to improve in the future. If you want to stay competitive, your goal should be to find software that will evolve based on your needs. Be sure to ask your software provider about real-time collaboration.