Construction management software offers a variety of tools to assist users in managing projects, resources, and clients. It boosts productivity and accountability while automating formerly manual operations. The right solution will also significantly cut operational costs and improve scalability.
Builders and contractors have various options when it comes to construction management software. However, this also makes it challenging to choose the most suitable product for them. Choosing the wrong solution might end up hindering the company’s operations rather than helping.
Investing in construction management software will make significant changes to the company. They just have to make sure that this transformation will be for the better. Thus, firms must know what to look for when planning on adopting a new automated construction management system. Here are six key features to look for in construction management software.
An accurate construction estimate gives a clearer picture of future spending, including how to prevent costly errors and save time and money. Using an effective estimate tool can simplify and expedite the sometimes intricate process of estimating building costs. It can also boost the accuracy of the firm’s construction quotations and, ultimately, its competitive advantage.
With a cost estimating tool, users would not have to worry about complicated codes or formulas because the program will handle all of the calculations. Thus, they can rapidly and accurately calculate the cost of goods, labor, and overhead for projects. More precise estimations in a shorter period of time will give the firm more time to meet with potential clients, which will increase their prospects of winning more bids.
Cost Management and Accounting
Cost control and record-keeping are two critical processes that managers handle during project execution. A robust construction management software can provide managers and other project participants with quick monitoring of the budget and actual costs per job in real-time. Additionally, it can also streamline the processing of various source documents and the generation of reports.
A comprehensive construction management tool allows the firm to employ a single software solution for both cost management and accounting activities. Unlike regular accounting and cost management software, construction-specific software allows users to view and manage financial data per job and per project, in real-time. As it is developed to help users specific to construction activities, its interface, format, and operations are tailored to help them quickly complete activities according to the standards.
Ordering and Procurement
The ordering and procurement function in construction software assists companies in managing the orders they place with their suppliers. A strong solution can help the firm source high-quality items at reasonable rates, manage the logistics of the material transit between locations and facilities, and keep excellent relationships with suppliers.
Commonly, the tool has an import feature that allows users to quickly use the suppliers’ price lists, product codes, and descriptions for creating purchase orders. Some solutions also give users the ability to make an order from an estimate.
Software with a supplies procurement feature allows the firm to quickly respond to urgent project site demands. It can also make paying vendors and inspecting delivered items easier.
An asset management feature provides all on-site and off-site personnel with the ability to gather and access real-time data on a specific asset’s usability. It enables site managers to better understand and manage their assets’ life cycles and depreciation.
Knowing what equipment and tools the firm has and how much each one costs is an important part of managing construction assets. It is also crucial to understand when the equipment needs maintenance or replacement. With it, they can plan ahead and budget funds for new equipment when needed.
Additionally, asset management gives the tools necessary to increase construction equipment security and lower the risk of theft and loss. It lets site managers know where assets are located and who last utilized them by employing tags that assist find construction equipment in real-time.
Having a complete picture of all work orders and available resources can make or break a project or the construction company itself. A construction management software provides tools for scheduling, job status updating, monitoring, making reminders, and adding notes to the job. From properly crafting a work order to completing completed orders, it can minimize limitations and obstacles at every stage, allowing the manager and the team to focus on the job at hand.
Job control features assist contractors in coordinating people and work. It also ensures that everyone has the data they need to accomplish their duties and covers all actions required within the scheduled period. This enhances the workers’ productivity, secures smooth operations, and makes sure that the teams collaborate effectively.
Retentions are one of a construction company’s critical financial sources. So it has to prevent delays in receiving a retention payment; otherwise, the budget may fall short, leaving the owners no alternative except to borrow money to meet the expenses.
Construction software with a reliable builder retention feature enables managers to keep track of retention schedules and notify customers as it comes due. They can also compare the retention schedule with the supplier payment schedule to see whether they are in sync. Knowing ahead of time if the retention timeline falls behind the bill payment plan can help the firm balance its budget through cost-cutting and other money-saving strategies.
BizPrac – The Software for Builders
Each vendor offers different interfaces, capabilities, and specifications that give each construction management software its own edge. The right product will help the firm solve its automation, productivity, scalability, and other concerns. It could also simplify the tedious task of owners, project managers, site engineers, and consultants and improve decision-making, resulting in speedier project completion.
BizPrac is an Australian-owned and operated construction management system designed specifically to support the Australian construction industry. It is a fully integrated and constantly developing software system that offers comprehensive features like estimating, accounting, job costing, accounting, single-touch payroll, purchasing, builder retentions, etc. Bizprac is designed to ensure users are making the maximum profit on each project they do. It is also backed by an industry-leading Australian-based support team that knows the industry inside and out.
Request for a free trial today or contact us at email@example.com to get in touch with one of our team members.