As a construction company, how do you manage business finances? Do you use in-house systems or outsource this function to an external resource? The reality is that most businesses use a variety of resources to manage their financial accounting. The challenge of getting what is needed from these varied systems is even greater for the […]
We’ve all seen (or been) contractors or project managers relying on an Excel spreadsheet for construction project management. Excel is ubiquitous in the sector. But, if we’re being honest, using a spreadsheet for construction tracking is merely reflective of slower than necessary digital adoption within the sector. Globally the construction industry is one of the […]
Establishing a new building – either residential or commercial is not a small task. Since there are so many aspects of a construction project, be it design, exteriors, interiors, electrical fitting, or plumbing, it requires some legally-binding agreement. All the terms related to a construction project should be included in it so that the involved […]
Handling a construction project is a tough nut to crack. Many people think of these jobs to be governed by only two parties – the client who wants to hire professionals for a project and those who can be seen working on a construction site. However, in reality, there are several stakeholders involved, be it […]
“Perfection has to do with the end product, but excellence has to do with the process.” – Jerry Moran This famous quote is quite indirectly related to the global construction industry. What is visible to the eyes is the increasing number of high-rise buildings and skyscrapers. In terms of market size statistics, the global construction […]
The construction industry was responsible for employing about seven million people in the US in 2020. However, labor shortages and increased project costs are challenging the status quo. As per the US Bureau of Labor Statistics, more than 400,000 positions on construction projects were unfilled as of October 2021. And amid a national shortage of specialized labor, contractors also […]
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 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 […]
