In many industries, compliance is often perceived as overly bureaucratic that gets in the ways of business success and profitability. However, for those who follow the rules, it’s a necessary evil to prevent unethical conduct and violations of the law – two factors that are critically important in the extremely delicate construction sector.
That said, instead of thinking of compliance as an obstacle your business must overcome, you must start viewing it as an ally of your organisation. Read on as we detail in this infographic the importance of meeting compliance requirements of the government and of industry regulators, as well as how integrated business software can help you build a solid compliance management practices in your company.
Key Government Legislations in Construction
- Competition and Consumer Act 2010
- Australian Consumer Law
- National Construction Code
- Disability (Access to Premises-Building) Standards 2010
- National Prequalification System for Civil Construction Contracts
- Environment Protection and Biodiversity Conservation Act 1999
- Native Title Legislation
- State Building Acts
Aside from these key legislation, the following requirements are also mandated to operate legally in the construction industry:
- Personal Service Income and Taxable Payments Reporting
- Licenses and Permits
- Workplace Health and Safety
- Insurance (domestic building, professional indemnity, public liability, structural defects)
- Finance (security of payments, managing business debt, levies, and charges)
- Employment training
- Environmental management
Standards such as those being enforced by Safe Work Australia apply to all builders across the country, which makes them easier to learn and adapt. On the other hand, building codes, insurance, and bonding requirements can vary by area, so it’s imperative that you vet with relevant authorities in your locality and state so that you know the standards that apply to your business.
Compliance: A Necessary Problem to Achieve Success
Many business owners think that compliance is just an expensive headache that burdens their company financially and only limits their business from growing.
However, what these business owners don’t realise is that these standards and regulations in place are not only there to ensure that all their practices, processes, and systems are fair and preserve the common interests of their employee’s customer, but also to drive efficiency and innovation in how they deliver their products and services.
Failing to meet the compliance in any of the above requirements can bring a single construction project to a complete halt until it is addressed. Non-compliance from safety and security rules, for instance, may lead to injuries in the worksite which may cause you to face lawsuits filed by your workers.
As a result, your work productivity will suffer, and you can lose your most valuable workers because they feel that you are not meeting your obligation of keeping them safe while they do their jobs. Worse, your present and potential clients might also stop doing business with you because they see as a company that is not dedicated to ensuring workplace safety.
Benefits of Construction Management Software for Compliance
Integrated business management software like Bizprac can help you streamline compliance across your organisation by enabling everyone – from those at the back office to those working on site – with the information they need in real-time.
Bizprac also allows contractors and builders to manage documents more efficiently, set-up alerts for compliance documentation that is expiring soon, and even manage the compliance documents of subcontractors.
With cutting-edge features that will help you comply with various Australian rules and standards regarding payroll reporting and builder retentions, using Bizprac, the software for builders will take your construction business to greater heights.
Visit our website today at www.bizprac.com to learn more about Bizprac and our construction management software.