Construction Companies Use Cloud-based Software to Scale Projects
A growing construction company with a traditional ERP solution will often face growing pains that include productivity losses and increased costs. As the business expands, stakeholders recognize that the technology solution does not keep pace and costly capital expenditures are necessary to maintain the status quo. The addition of job sites increased labor costs, and other material costs create complexities that cannot be easily resolved with a traditional ERP solution.
1. Does your software cause a delay in reporting, scheduling, payments, or delivery?
2. Can you track productivity as your company grows?
3. Does increased manpower require resources that your software doesn’t provide?
4. Does your software meet the requirements for all users?
5. Would automated processes improve efficiencies, reporting, and reduce costs?
6. Have you maxed out the capabilities of your current service providers?
7. Do you understand the differences between a multi-platform architecture and cloud construction software?
8. If you add two new teams this year, what is the overall cost related to your current software solution?
9. Does your existing construction solution scale with growth, without incurring additional costs?
10. Do your projects require additional resources (Excel) or other software to summarize or analyze data?
Construction companies with the right software before project inception, benefit from operational efficiencies because real-time data access gives stakeholders the ability to pivot and manage costs as they occur which prevents overspend throughout the project’s lifecycle.
The ability to track job costs in real-time to compare forecasted costs to actual costs reduces unexpected changes to financials. Remote time collection is an area that can quickly add to project costs and evaporate project margins if the data is not transparent. Crew expansion will increase project costs, and those new costs must be readily accessible to functional groups.
The Impact of Unexpected Costs on a Construction Project
While unexpected costs are not uncommon in a build, they do impact margins and need to be swiftly managed. These unplanned costs can throw a budget into chaos if the data is managed on multiple platforms, because it cannot be quickly analyzed. The only way to accurately track costs, data, and resources in real-time is through cloud construction software that provides one true source of data.
Cloud construction software provides full transparency in real-time and that helps companies protect project margins. Project managers, general contractors, and specialty contractors can access data from the field and manage costs by location, trade and pre-construction versus warranty.
Business Continuity in a Hosted Cloud Solution
The COVID-19 pandemic required most companies to radically change business processes to protect employees, customers and vendors from contracting or spreading the virus. However, COINS customers remained fully operational because the data resides in a hosted cloud environment and can be securely accessed from remote locations. Remote teams have confidence in the cloud-first technology that enables seamless connectivity through mobile applications to ensure continuity of projects.
ERP Technology Benefits Transparency, Collaboration and Data Integrity
Consolidating data from multiple platforms can be a big undertaking. Some companies continue to manage data from a variety of data silos because they fear moving to a web architected solution may disrupt current business processes. However, when data for different functional groups such as Purchasing, CRM, HR, and Services resides on different platforms, it does not allow for collaboration, transparency or real-time data. Choosing the right partner to integrate the data into the cloud along with functional groups, communications, and remote teams is paramount to scaling up for growth.
A Single Point of Entry
A cloud ERP construction solution not only eliminates data silos, but also eliminates the need for multiple user IDs and passwords. This also reduces the amount of time an IT department would spend each week setting up new users on multiple platforms or resetting user passwords for employees that cannot remember their password for each platform.
Slice the Data to Match the Audience
Having the ability to roll up reporting views, and slice data into a view that makes sense to the right audience is important. And being able to pull data from different projects and cost codes simplifies the message because stakeholders understand where the data came from, what it means to the project and the impact on project margins.
Cloud Construction Software Eliminates Redundant Processes
Putting the onus on the right people results in several benefits such as improved efficiencies, scheduled reports, automated processes and a quicker response time because the data is accurate.
Cloud construction ERP software is a collaborative tool that reduces paperwork. Remote project managers can review and approve crew hours in the field, assign cost codes and submit to Payroll from a mobile device. Once submitted, the Payroll department can review crew hours and process payroll without additional paperwork. Automated processes save time and money and reduce errors from manual data entry that often results from a ‘paper environment.’
Cloud Software Reduces Complexity
Construction companies with cloud-based ERP software can be more proactive in responding to changing costs because they have access to the data as it changes and can make informed decisions. At some point, a growing construction company using a traditional ERP will need a more robust technology solution.
Software Designed to Scale with Your Construction Business
COINS Construction Cloud solution is designed to increase productivity, create efficiency, and improve collaboration while reducing costs, managing risk and guiding informed decisions. The software manages all your company data in one place and will seamlessly scale with your construction company as projects and budgets increase.
COINS ERP solution is a natively integrated, all-in-one cloud software that does not require additional software, partnerships, or a remote desktop application. The result is one login, one true set of data and secure remote access.
If you’re tired of continually adding new vendors (and costs) because your construction software doesn’t scale to match your company’s growth, consider the COINS Construction Cloud solution. We will be happy to demonstrate how our software scales in parallel with your company’s growth.