72% of construction firms admit that construction projects always take longer to finish than originally projected stated in a report published by AGC. Now, this clearly stipulates that construction projects and construction sites are a mess. This is understandable taking into account many collateral operations going around from financing to procurement, from design to labour management, and more.
However, there is an easy way to get around this mess and make construction projects more streamlined. The solution is to take the assistance of modern-day technology. Cloud computing, AI, RPAs, and digital transformation when bonded together to make a custom software solution for construction businesses, works like a miracle.
In fact, one survey says that over half of SMBs in the construction industry have already digitised a part of their operations and getting astounding outcomes from it. Anyways, if you still want to get a deeper understanding of this, you can read a detailed article we already have on 4 ways that software solutions can better manage Construction.
While developing a custom software solution for construction, many business owners are blindsided by the software development partners. This happens because they want to sell you an existing solution but your business is unique, the demands and needs are unique. Thus, you will need a customised solution depending on your business need.
In this article, we will quickly run you through the most important features of construction management software and under what circumstances you should have it in your solution.
Finance & Accounting Management
The most influential reason for the failure of the most ambitious construction projects is cost overruns. Construction projects go on for a few years. In such a wide time span, numerous things can happen like geopolitical complications, natural calamities, amendments in government norms, and more, which can cause a complete shift in cost projections.
Thus, a reliable financial plan and excellent management of it is a compulsion for the successful completion of a construction project. AI enables finance management modules in construction management software can help you prepare best for the worst to happen. The accounting management module reinforces the strength of financial management by keeping a track of everything and presenting all data to you in one place.
Project Management & Scheduling Management
We just mentioned cost overruns as a major factor for failure. Well, the stretched timespan for a construction project is one of the root causes of cost overruns. Not being able to finish a construction project in the projected time is a nightmare for any construction business owner.
This is because the fixed costs projected are not increased. Not to mention the inflation and rise in the price of raw materials. All this causes millions if not billions to the business. Thus, project management and scheduling management are necessary to keep a regular track of progress and plan accordingly.
Almost every construction business holds millions worth of raw materials and equipment. Not keeping proper track of these can quickly put you in a trouble. That is why inventory and equipment management is necessary for smooth operations and optimal use of the inventory.
Keeping a track of complete inventory becomes easier with a single dashboard on construction management software. It enables purchase and procurement managers to plan purchases accordingly to get the best rates as well saving a few thousand in purchase.
All the above-mentioned processes and other dozens of operations going on a construction site create a tremendous amount of paperwork. All of which, always get lost when needed the most.
Keeping a track of all the documents in physical files is not a good idea anymore. Having a document or file management system in construction management software is essential.
Like it or not, we all have several groups on WhatsApp about work, which we do not tend to give much attention to. We bury ourselves under countless communication channels due to the lack of standard communication channels.
A standard communication channel saves you from a lot of miscommunication and trouble. This it is necessary to have communications software embedded to your construction management software.
Mobile compatibility is a must-have feature for every business owner. Being able to access information and data from anywhere at any time from any device is a superpower for any manager or a business owner.
You can now make completely informed decisions making. You can check all the status and reports at your time while in transit or listening to music.
There are many features that construction management software comprises that are made to make your life easier. However, you might need some and might need to eradicate others. That is the primary reason for getting a custom software solution for the construction business and not just picking a market-ready software made for everyone
If you are looking to consult with experts about your needs to get a custom software solution for your construction business, feel free to contact us anytime.
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