5 Valid reasons for businesses to embrace construction software right now

Even though the construction industry has been slow in adopting technology, the picture looks bright ahead. According to a World Economic Forum report, within ten years, full-scale digitisation of the industry could drive savings of $0.7-1.2 trillion (13- 21%) in the design and engineering and construction phases, while there will also be savings of $0.3-0.5 trillion (10-17%) in the operations phase.

The most widely embraced technology in the domain is construction project management software. For businesses that want to get smarter, the use of project management and cost control software in construction becomes imperative. In fact, 85% of construction companies have switched to cloud-based software now or are planning to utilise it in the future.

Despite the widespread adoption, some companies and contractors are still apprehensive about the move. While some do it because of sheer lack of experience, others are worried about the investment and its value. Still, the benefits that typical project management and project cost control software pack make the investment worthwhile. Here are some valid reasons why businesses should embrace them sooner rather than later.

Better project and time management

Missed deadlines are often a common problem with construction projects, as 20% of them take longer than expected to complete. Additionally, several issues impede work down the line. The reasons are obvious because typical projects involve countless simple and complex tasks and have disparate teams working on them. There are full-time employees, subcontractors, trade contractors, vendors, project managers and clients, who need to communicate and stay on the same page. Things are likely to get messy and delayed more often than not.

Moving to cloud-based construction software resolves the concerns to a considerable extent as it serves as a unified communication platform for everyone on board. It houses all the information, drafts, documents, calendars, tasks and more at a single location, so anyone can access whatever they want from it anytime and from anywhere. Things start operating much smoother and faster when communication becomes seamless.

Effective cost control

Like missed timelines, cost overruns also plague a majority of projects regardless of size and scale. The challenge gets bigger for larger ones where budgets get toppled beyond expectations. Utilising cost control software in construction is a smart move as these applications enable tight controls over target budgets. They enable managers to maintain a running audit of spending and also provide a broad insight into the areas where costs are running over budget.

It becomes easy to identify the aspects that need to be improved. Also, cost control software help with better planning for such unexpected costs and fixing of issues that may be the reasons for the budget to go over the top. While it becomes possible to detect the small cost problems, managers can also get a clear vision for avoiding expensive manual accounting and invoicing errors.

Greater communication flexibility

Another key benefit of construction software solutions is greater communication flexibility. These applications enable the managers to monitor emails, manage contacts and communicate seamlessly with all the stakeholders on board. They are even capable of sharing field notes and creating daily reports, so they end up streamlining every aspect of regular communication.

As the solution is cloud-based, users need not be tied to computers or laptops. Rather, these applications can be accessed from anywhere through mobile phones, which make them portable and flexible. Authorised users can access the requisite project information from wherever they are. Managers need not visit every part of large sites; rather, they can connect and communicate with workers with mobile devices from one location.

Document sharing and control

It is easy to understand how complex documentation for large projects can get if it is paper-based. There are multiple maps, floor plans, blueprints and invoices that need to be managed at all times. While handling documents is a challenge in itself, sharing information and discussing plans can be even tougher when these documents and spreadsheets are on paper. Thankfully, a software solution digitises the entire load of documents and makes them available for everyone on the cloud.

While secure data storage is a crucial advantage, better reporting and shared access drive greater efficiency and productivity for projects. The software serves as an integrated system that offers access to vital information sources in a digital format. Also, project cost control software serves financial figures and reports to all the stakeholders so that they can leverage accurate facts and figures for better decision making.

Drives business expansion

For any business that goes ahead with embracing an innovative solution, expansion is the core objective. The same applies to the adoption of software solutions for this vertical, as these applications can play a significant role in business expansion. They go a long way in promoting efficient business processes, completing projects faster, preventing cost overruns and eventually increase the return on investment.

Apart from boosting a business financially, these solutions offer a reputational advantage as well. By improving communication on-site, they can help with the early detection of risks and hazards. It can prevent accidents and make sites safer for the workforce. Quality in delivery is another reason they enhance the business reputation.

Considering the immense benefits that construction software bundles up, they make the smartest investment for all kinds of firms and even small contractors. The best part is that these are a one-time investment that serves growth potential for the business over the years.

Summary

Construction companies that are still apprehensive about embracing solutions like project management and project cost control software need good reasons to overcome their doubts. Here are the valid ones that make them a worthy investment.

Author Bio

The author is a senior project manager with a renowned Dubai-based construction company. He loves to pen down his experiences and insights and share them on popular blogs regularly.