How to know when it’s time to invest in construction software built for contractors

7 Elements to Examine – Determining whether or not it’s time to invest in construction software

Written by: Leilani Torres, Construction Software Sales Associate

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Watch this short video, as Leilani explains why you should consider investing in construction software for your business.   If you’re interested in learning more or seeing a no obligation demo of Sage Construction Software, contact TAG.

  1. Accounting

 

When it comes to accounting, you could be costing your business valuable time and money by managing your accounting system the wrong way. You may be spending hours trying to settle your books and likely still have unresolved discrepancies. When you aren’t managing all of your information correctly, you are often spending more time coordinating with others including the field to understand what needs to be billed and paid.

 

  1. Change Orders

 

When Change orders are not properly being tracked, you may miss getting a change order approved, risking if you’ll get paid for the work.

 

  1. Job Costs

 

Job costs should mean profitability. This means maintaining accurate and correct information throughout the job. Actual costs should be tracked in detail throughout the job. If this isn’t being done, you don’t know the actual cost until the job ends. Similarly, you may fall behind knowing your actual labor costs. Similarly, without the most current and up-to-date information during the job, you are not able to make the best decision to ensure the largest profit.

 

  1. Reports

 

When you don’t have a construction-specific system to handle things such as certified payroll, union, or other reports, you end up spending a lot of time manually creating them. The extra work is costing you money, but so is not having access to the reports that will confirm which jobs or which aspects of the work bring in the best margin.

 

  1. Estimates

 

Manually creating estimates using spreadsheets takes time, and many times costs are missed or inaccurate. When a new job is being set up from an estimate manually, you will be required to spend time transferring information from one system to accounting. Without real-time information to track how you perform on a job against the original budget, you are required to combine numbers in order to evaluate.

 

  1. Project Management

 

Project management requires a lot of attention to detail. Dates, budget costs, and all the right project documentation are vital to the success of a project. You or your office should be automatically alerted when things require your attention. Insurance expiration dates, outstanding lien waivers, and times when your job costs may soon exceed the budget. These are all important things that should be tracked and paid a great deal of attention. All of the right information being managed and accessible to you is imperative.

 

  1. Service Management

 

Tracking dispatch, scheduling, inventory, equipment, and documents in separate systems and using different methods makes it difficult to refer back to information.

Changes to scheduling and monitoring inventory takes more time and effort ultimately costing more when you aren’t on a specialized software system.