Construction is not an easy business! Not just because of the risks and heavy work associated with construction projects but because of the extensive stress related to project management. However, to manage the responsibilities better and overcome the stress associated with each activity, contractors often switch to project management software technology.
Since these tools are designed to add more precision and control to construction projects, contractors and project managers find it much convenient to work on the task of planning, building, and quality deliverables. Even though many construction firms have already adopted the digital change, there are still many construction companies and contractors who resist adopting a construction technology or make a wrong choice with the tools.
Nevertheless, the sudden increase in the demand for construction and the interruption caused by the pandemic has boosted the competition. Therefore, it is essential that contractors and construction firms, irrespective of their size must understand the must-haves they need to seek with their construction project management software.
Let us quickly learn in detail about these necessary construction management software capabilities that can help you ensure better workflow, improved management, and enhanced revenue.
Resource Planning
Resource planning is a vital aspect of construction project management. However, most contractors consider resource planning to be a task that only tracks the work hours of the labor. But the fact is effective resource planning needs you to have complete control over equipment, material, and finances. Thus, the first thing which contractors must find in a construction project management software is having a fully digitized resource management system.
Project managers should consider adopting a system that can help with cost, volume, supplies, and scheduling of the resources to ensure maximum productivity. Moreover, it should be a system that can help the field teams learn about any potential downtime with the equipment while giving timely reminders to check and preserve the tools. It should be a solution that syncs well with other aspects of the project and help keep the budget in control by preventing any waste of resources.
Budget & Finance Management
Since every construction project is meant to drive better cash flow and overall business revenue, budget management capability is a must-have for any construction project management software. especially, if you are a construction firm that has seen extensive downtime due to the pandemic, budget and finance management features could help you drive sustainability in longer runs.
Make sure you always invest money in construction software that could offer accounting features to help you check costs, compare costs for budget planning, and generate expense reports to have maximum financial transparency in business. This can help you have a more practical relationship with project owners and ensure quicker payment processing. Also, the effective budget allocation could help you avoid any fund depletion and plan your project activities accordingly.
Payroll and Invoicing
The entire purpose of using construction project management software is to keep the project on time. However, this would need tracking of the total work hours of the labor, defining the schedule, and have the best payroll management features. Since the maximum amount of project expenses are associated with payroll, it should be software that offers easy calibrations to align with local taxes and deductions on preset payroll information.
Moreover, your construction software should allow you to work on all the invoicing and billing processes to ensure liquidity with the construction projects. As software-enabled bills are easy to process and are more accurate, it can be of great help in cutting down the time required by field and office teams to work on the accounting process while ensuring quicker disbursals.
Business Intelligence
Using construction management software that can offer business intelligence technology is the need of the hour. When you work on such a system, it becomes much easier for you to identify any pitfalls with your project schedule, expense planning, and project progress.
Also, using such a system makes it easier to interpret all the outcomes and learn about possible problems that project managers might need to deal with at any stage of the project. Contractors using such technology could find it easier to work on the decision-making process while sticking to any legal compliance and overcoming any error that might affect the optimum performance.
Customer Relationship Management
Though CRM capabilities are mostly considered essential for manufacturing business or product-based services, it is equally important for construction firms. It not only helps contractors to connect with clients but ensure better business opportunities. Also, leaning on construction project management software helps to improve the bids while improving transparency with the customers.
Besides this, using such a solution makes it easier to work on multiple projects at the same time. It can help create private folders for every unique project while giving you the liberty to access past project data to plan future ones. Also, the added features like automated reminders, scheduling activities, and project planning become much streamlined when you have a dedicated CRM system in place.
Integrated Capabilities
Last but not least, when you are planning to adopt or upgrade your existing project management software, it is always a great idea to work on software with integrated capabilities. This not only helps you save cost over multiple single-point solutions but also helps to keep the entire accounting, project management, ERP, and CRM processes on a single platform.
Moreover, working on integrated construction project management software can be of great help in overcoming any lag or errors with routine activities. Since integrated solutions are designed on shared networks, it becomes more convenient for project managers, contractors, and project owners to have the most accurate data that can help with better decision-making.
The Crux
Modern construction demands progressive techniques that can help ensure precision with project activities. Therefore, working on a feature-rich construction project management software helps you to have better command over accounting, billing, invoicing, time tracking, and other project-related activities.
Since automated solutions help to add more convenience, using construction software with the above-defined features could help you have improved operational planning, have better business opportunities, and secure higher revenue. And if you don’t want your investment to turn into a lost opportunity, all you need to do is refer to the above list of features and make a more conscious move with your construction technology needs.
Author bio: Ed Williams is the Senior Team Lead at ProjectPro, an integrated construction accounting software. He holds a massive industry experience and is a Microsoft Dynamics expert who is focused on successful implementations. He is a visionary leader and always aim to deliver the best to the construction and project-oriented industries.
