The construction industry is picking up pace again after almost two years of constrained activity during the pandemic. Statista’s study shows that the global construction industry will grow steadily in the next few years and reach a market value of $14.4 trillion in 2030.
While this spells good news for construction companies, they face several challenges that impact the project’s progress:
- Communication failure: Poor communication among stakeholders could lead to project delays and unnecessary rework.
- Silos in data and operation: All stakeholders must have access to real-time or most recent information about the project. A silo between the stakeholders could delay information sharing and the project’s progress.
- Delays in invoice processing: Contactors rely heavily on legacy systems like Excel spreadsheets, PDFs, and emails to process invoices. These are unstructured and unstandardized, leading to delays in invoice processing and project completion.
- Manual documentation: Most companies still rely on paper-based documentation. These are prone to errors and can easily be misplaced if not managed correctly. It becomes even more complicated and confusing when new recommendations and modifications are made, and the documentation doesn’t reflect those updates.
The best way to avoid such situations is to invest in digital solutions like construction management software. In fact, according to the USG + U.S. Chamber of Commerce Commercial Construction Index’s (CCI) 2019 report, 78% of contractors outlined that advanced tech could improve labor productivity. 75% said that it could streamline project scheduling.
That said, let’s learn more about how digital solutions can benefit contractors.
Five Ways Digital Solutions Streamline Project Management
Construction management software allows companies to automate tasks, create workflows, and share data with authorized stakeholders in the project to improve productivity and efficiency and accelerate project delivery. Here are a few benefits of using a digital solution like construction management software.
1. Improve Communication
Construction management software can help all users associated with the project to collaborate in real-time and communicate efficiently from anywhere. They can show demos and drawings during virtual meetings to update everyone about the project’s status. Contractors can store past recordings for future reference and schedule meetings through the software. This transparent communication eliminates confusion and misunderstanding between various teams and accelerates the project’s completion speed.
2. Management Documentation
Construction projects involve multiple documentation at every stage – from contracts to drawings, permits, and specifications. Each of these documents also has various versions. Managing multiple versions of each document can be cumbersome. Additionally, they must be stored in a centralized location for all stakeholders to access them easily.
A well-managed documentation process is essential not just from the project’s view but also from a compliance perspective. Digital solutions like construction project management software centralize all these documents with features like access and version control to ensure that all the relevant stakeholders can access the most recent information to make crucial business decisions.
3. Track the Crew’s Productivity
Traditionally, construction companies followed a paper-based attendance system to track the crew’s in-time and out-time. This tracking system was time-consuming and easy to manipulate. It was also challenging to track workers working on remote sites.
Digital solutions like the construction project management system help contractors keep track of their workers from anywhere, monitor their in-time and out-time, and enter or approve the crew’s timesheet from any device.
4. Track Expenditure
Contractors receive invoices from suppliers and vendors and have to handle the expenses of laborers and material costs. Tracking these expenses, managing the budget, and publishing financial reports can be time-consuming and prone to human oversight.
A lot of business decisions are based on financial reports. Hence, a digital project management solution is necessary. It allows contractors to track costs, monitor expenses, and generate accurate financial reports. Moreover, it provides complete visibility on financial health, enabling the management to have better financial control and prevent cost overruns.
5. Schedule Tasks
Task scheduling is necessary to complete the project within the stipulated timeline. A slight delay could derail the project. Construction management software allows contractors to create new tasks, allocate resources, and set deadlines. It also helps them set reminders and send them to resources to ensure the tasks are completed on time.
This way, contractors can monitor the progress and ensure the milestones are achieved on time. Efficient scheduling can go a long way in completing the project on time and enhancing customer experience.
What To Look for While Choosing a Digital Solution?
Companies must check the following when choosing a digital project management solution.
Choose a software that’s a one-stop shop for all project management, HR, accounting, and other needs. The authorized users should be able to manage and exchange data from a single interface without any hassle.
Real-Time Project Monitoring
The decision-makers should be able to track the project’s progress in real-time and the percentage of tasks completed, compare projects and costs, and bill customers based on milestones and progress.
Since the software will store all the vital project information, companies should ensure it’s safe and compliant with data privacy regulations. It should provide access only to authorized users.
Since most companies would be transitioning from using paper-based systems or legacy software to new-age digital solutions, the learning curve must not be steep. The interface should be intuitive and easy to navigate, enabling users to adapt without intensive training.
Taking Action: How CEM Can Help
At CEM, we understand the need for an integrated solution that allows construction contractors to manage budgets and finances and plan resources and scheduling efficiently.
Hence, we have built a cloud-based, digital solution to streamline construction project management. Built on Microsoft Dynamics 365, our all-in-one construction management software includes modules for finance, supply chain, timesheets, expenses and payroll, and equipment. The entire system is well-integrated with role-baked security, making it a highly secure option for managing critical documents.
With features like integrated clock-in/clock-out mobile timecards, real-time access to all accounts, HR, and project management needs, automated workflows and integrations, and consistent risk monitoring, our software empowers construction contractors to plan and control the various facets of the project efficiently.
Get in touch with us to know more about how our digital solution can aid you in project management.