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Should Your Business Be Using Construction Technology?

With over 90% of construction companies still relying on outdated methods for many of their business processes, is it time for the construction industry to utilise technology and move towards digitisation?

Construction technology can be used for controlling costs and budgets, reporting, managing subcontractors and much more. With 74% of construction executives looking to digitise their business processes within the next 18 months, here are 5 reasons to use construction technology and keep up with your competitors.

Forecasting

By using construction technology, you can store all your business data in one place. This can help speed up your monthly reporting and provides you with a better understanding of overall profitability. Having instant access to the data allows you to monitor the true performance of construction projects, giving you more time to make any amendments necessary.

Being able to instantly generate reports across all aspects of the business, whether it be an overview for an executive or the monthly payroll reports will improve your company’s efficiency, saving you both time and money.

Communication

A good way to improve communication across your business is by using construction technology. Having a core system that is used by everyone in the business, means it is easier for information to be shared between employees – particularly between on-site teams and the office. Improving communication in this way helps increase visibility of project information for the entire team.

Construction technology can also help streamline your business process and communication by implementing approval workflows and authorisation processes. This means that if something, such as an invoice, needs to be processed it can automatically be sent to the right person for them to approve.

Accessibility

Construction technology allows your teams to access real-time, up to date information from anywhere, providing they have an internet connection. This is a perfect solution for when your team are working remotely or out of the office, allowing them to gain access to the information they require easily. This is also helpful for your on-site teams who can easily submit information to the system via a smartphone or tablet.

Being able to log in at any time from a remote setting may also boost efficiency within your team, as employees may be more productive outside of traditional office hours.

Compliance

In the construction industry there are numerous regulations a business must adhere to, which is something that construction technology can help with.

Mobile forms allow construction companies to digitise all of their on-site paperwork and forms, which can include risk assessments, incident report forms and more. This allows workers to report incidents immediately from any location whist leaving a digital trail for audits. Using construction technology in this way can ensure you stay compliant with health and safety regulations. 

When it comes to subcontractor regulations, construction technology can help you to quickly and easily verify subcontractors with a direct link to HMRC’s portal. This reduces the risk of using subcontractors that are no longer insured and can help the company stay compliant with regulations.

Integration

One of the main benefits of using construction technology is having the ability to streamline a range of different business processes by using an integrated solution. For example, construction technology can cover everything from payroll to contract management, subcontractors to retentions and more all in one place. This can boost efficiency and ensures all information is easy to access.

Construction technology can also be integrated with other programs such as Microsoft Office, allowing you to export data to Excel and email documents using Outlook.

Summary

Integrity Software’s construction-specific accounting and management software, Evolution Mx can do all the above plus much more to help your business boost efficiency, record costs and stay compliant with industry regulations.

If you’d like to find out more about our software, then please book a free no-obligation demo today.