4 Ways Construction Firms Can Transform Operations Through Technology

As the saying goes, “comfort is the enemy of progress.”

Too often, construction firms get comfortable in the technology they know and don’t look to branch into the technology that can take their business to the next level. When it comes to improving efficiencies and profitability, it’s important to take a look at technologies that can integrate operational systems to provide a wholistic view of the various aspects of your business.

Integrating operational systems can bring many immediate benefits for a midsize firm.

1. Ability to efficiently scale. Project volumes are sporadic, jobs can seemingly come in waves.  The ability to assess costing, staffing requirements, and optimize project management allows firms to theoretically bring on more opportunities than trying to do it in an inefficient back-office environment. The benefits of operational visibility allow construction executives to make quick decisions that could increase profitability, especially when multiple projects are simultaneously ongoing.
   
2. Improved Forecasting. Intelligent systems can help monitor market activity and optimize customer relationship management (CRM) tools to help construction leaders forecast and understand what a realistic project pipeline might look like. 
3. Efficiently manage costs. Greater visibility into changing market trends and product costs can help reduce mistakes in costing. In addition, it can help optimize the use of resources across multiple projects.
   
4. Create a Digital Trail. New systems will help firms keep a more complete digital trail of transactions and compliance with regulatory requirements. It can tremendously reduce paper consumption, physical storage space, and make referencing former projects much easier (to improve repeat business with clients and help with competitive project bids, etc.).
   

It is difficult to pinpoint the number of benefits that come through an integrated system. But the bottom line is perhaps the most important.  Saving employees hours of time can increase productivity, lead to greater employee satisfaction and retention, increase creativity, and give your firm more time for cultivating customer relationships.

Integrating operational systems can be an intense undertaking, but it is necessary to help position your construction firm for the future. MarksNelson’s technology experts can help develop a blueprint to identify the best solutions for your business and effectively advance your operational processes.