Simple technology systems can help your general contracting or sub-contracting business overcome “technology hesitancy,” increase productivity, add to your bottom line, and demonstrate a healthy return on the initial investment. When one poorly documented change order could cost your company thousands, possibly hundreds of thousands, of irrecuperable dollars, the ROI for construction management technology becomes evident. If you are currently facing “technology hesitancy,” here are some simple steps you can take to implement new solutions into your business in a thoughtful and meaningful way.
Cut Operating Costs While Improving Productivity: The New Construction Industry Normal—Same as it Ever Was
If you are among the construction business owners looking to improve your operational performance to increase profitability, one area you can focus on is the cost of construction management software. Successful builders, general contractors, and sub-contractors all have some construction management software in place. But are you getting the most out of it? You may be substantially overpaying for the features you use because you’re only using a small fraction of the application’s complete set of features.
Pay Apps That Are Incomplete, Inaccurate, or Late Can Cripple Your Construction Project and Impact Your Bottom Line
When pay apps are incomplete, submitted incorrectly, or late, the construction project can falter and possibly grind to a halt. Because the unfortunate truth of the construction industry is this—contractors do not get paid for the work they complete—they get paid for the work they can document! This point should hammer home the importance of correctly prepared pay apps. They can quite literally make or break the financial health of the project and your bottom line.