As the old adage goes, time is money, and keeping track of it certainly pays dividends. According to Acumen Data Systems, organizations can save more than $666,400.00 per year by leveraging “time as a resource” and automating timekeeping and payroll reporting. On the other hand, an inefficient or overly complicated solution to a everyday problem can […]
The COVID-19 pandemic caused disruptions across every industry, Construction included. Along with the need to identify opportunities to win more work and generate higher profits, industry players must also navigate a complex compliance and regulatory landscape. Given the multiple moving parts, managing projects from inception to completion while ensuring clear record keeping and clean paperwork […]
The complexity and multi-faceted nature of construction projects breed fragmentation — with processes disjointed across the value chain and coordination lacking between the systems. Often, functionalities like estimating, scheduling, and monitoring are siloed and find themselves operating in isolation or, even worse, counter to each other. This leads to a significant amount of time spent […]
Workplace injuries and accidents are related to almost every type of job site. However, construction workers encounter safety hazards more frequently than any other workplace. Most of the constructions have risks related to machinery, chemicals, and building processes that can cause lethal injuries in the absence of construction safety mechanisms. Given below are some of […]
The rise in construction technology has helped fuel the growth of the EPC industry. With the availability of innovative solutions, there have been significant improvements in the efficiency, productivity, and safety of large-scale construction projects. As per the statistics, the is expected to reach the mark of $8 trillion by 2030. If you are a […]
The evolution of digital technology has encompassed almost every industry. With different tools and equipment, construction project leaders work on finding ways to leverage construction technology and make the work more efficient. While the consumers might not be aware of it, most construction companies now address the increasing construction demands by adopting the latest technology. […]
Why Financial Systems Should Be the First Stop on the Digitization Journey of Construction Companies
A rather unusual, but unsurprising finding in a recent of finance teams outlined the predominant sentiment that “everything” about legacy financial systems is bad — software, workflow, and culture. Fundamentally, such viewpoints can be attributed to the lack of standardization and the adherence to a siloed approach that’s inherent in legacy financial systems. These systems are […]
Construction Project Management – An Overview Nations’ economic development and rising living standards of people are driving changes in the EPC industry. Further, rapid advancement in construction technology, digital solutions like Computer simulations, Computer-aided drawing (CAD), and skilled manpower – are all transforming the construction landscape. The construction industry deals with projects spanning agricultural, residential, […]
Most businesses today have operational or financial systems in place. However, these often exist in silos and while they get a specific job done, they are not well-suited to scaling business outcomes. This is because every business needs a consolidated view of performance across departments and units. This makes it essential to have a solution […]
We all know how labor-intensive and time-consuming operations tend to be in the EPC world. We also know how vulnerable they are to human error given the scale and the scope for confusion. In the quest to find little fixes to big problems, organizations are sometimes inclined to turn to point solutions, unconnected, stand-alone software that has […]