The industry’s old-school ways mean contractors waste time and money mailing revisions to blueprints, tracking paper receipts and invoices, or traveling long distances to do on-site inspections of small changes.
95% of construction and engineering professionals think tech/innovation will significantly change their business2.
As construction professionals shoulder even more pressure to boost razor-thin profit margins, leaders are beginning to embrace the digital revolution. Fifty-five percent of construction and engineering professionals said their industry is ripe for disruption in a 2017 global survey conducted by KPMG; 95% think technology/innovation will significantly change their business; and 74% believe such a change will happen in less than five years2.
Digital disruption doesn’t have to be a burden. Here are three ways to harness digital tools to your advantage.
Manage Projects From Anywhere
Hard drives and technology are more visible than ever on the job site. Crews are now using tablets, for example, to review and inspect plans instead of old-fashioned paper blueprints. Some new applications help managers inspect remote sites by providing digital photos.
In addition, project management software can save time and increase transparency by ensuring that updates, revisions and plan changes are shared in real time, cutting down on errors and delays.
Manage Jobs Better On-Site
Increasingly, on-site job leaders are using tech to monitor and improve operations in real-time.
New mobile platforms allow foremen to update blueprints immediately on-site, instead of having to make the trip back to the office. Workers can annotate and track punch lists from the construction zone, letting them work nimbly in the field when inevitable changes on-site arise.
New mobile platforms allow foremen to update blueprints immediately on-site, instead of having to make the trip back to the office.
Being able to adjust or change plans in real-time reduces or eliminates the time-delay that can be a killer on projects. Some digital tools allow foremen to immediately retrieve and compare data on actual project hours, budgeted hours, and remaining hours, which helps keep projects on or close to budget.
Harry, a VP of Operations at a midsize construction firm, said the way that work gets done is definitely changing. “There's not too many contractors that don't have somebody that’s schooled in software,” he said. “Most of them have gotten smart enough to know that that helps.”
Track Expenses, Everywhere, Digitally
Having centralized expense control enables the home office to get a birds-eye view of all the project expenses — even those out-of-state.
Owners of mid-size construction firms say that it helps control expenses when their out-of-state workers are aware that their spending is being reviewed regularly.
Jake, the owner and operations manager for a construction firm that does about $25 million in annual sales on projects in multiple states, said, “We want our guys that are out of state to be aware that we're reviewing what they’re spending.”
Turning to the latest digital solutions helps construction leaders quickly and easily tabulate expenses and other various needs for projects. Additionally, by avoiding paper, expenses don’t fall through the cracks and pile up without your knowledge.
Custom business Credit Card programs allow firms to digitize their invoices, track expenditures and automate payments through online dashboards.
“We know ahead of time what our costs are going to be,” said Robert, president of a mid-sized construction firm. “We break up those costs, allowing our field personnel to make purchases for specific projects, up to a certain amount.”
Custom business Credit Card programs allow firms to digitize their invoices, track expenditures and automate payments through online dashboards.
“When we were looking around, I asked a couple of friends what they were doing as far as controlling their expenses and what they thought was the best way to go,” Robert said. “Most of them are using a combination of corporate cards and online financial management tools to manage their cash flow.”
Related Stories
Reconstruction & Renovation | Mar 16, 2017
Pols are ready to spend $1T on rebuilding America’s infrastructure. But who will pick which projects benefit?
The accounting and consulting firm PwC offers the industrial sector a five-step approach to getting more involved in this process.
Contractors | Mar 15, 2017
Dan Ulbricht joins Skender Construction as Vice President
Ulbricht will be working with Skender’s executive leadership team to augment partnerships and expand new markets.
Contractors | Mar 9, 2017
5 reasons why Millennials are great for the construction industry
Millennials often are unfairly saddled with the dubious reputation for being entitled, disloyal, and self-centered, but it turns out that they are actually not that different from their older work colleagues, according to an FMI study.
Industry Research | Mar 7, 2017
These are the 10 most expensive cities in the world to build in
Paris, Frankfurt, and Macau are all on the list, but none of them are more expensive than the city in the number one spot.
Architects | Jan 4, 2017
The making of visible experts: A path for seller-doers in the AEC industry
Exceptional seller-doers have the ability to ask the right questions, and more importantly, listen.
Building Team | Jan 3, 2017
How does your firm’s hit rate stack up to the AEC competition?
If your firm is not converting at least a third of project proposals when competing for new work, it may be time to reassess your marketing tactics and processes.
Contractors | Dec 22, 2016
New commercial building energy code released
The update includes a new compliance path and significant technical changes affecting building envelope, and mechanical and lighting systems.
Contractors | Oct 13, 2016
Contractors’ financial performance improved in 2015
The Construction Financial Management Association’s latest survey found gains across the board, but notable variances by the size of the companies.
| Sep 26, 2016
RELIGIOUS FACILITY GIANTS: A ranking of the nation’s top religious sector design and construction firms
Gensler, Leo A Daly, Brasfield & Gorrie, Layton Construction, and AECOM top Building Design+Construction’s annual ranking of the nation’s largest religious facility AEC firms, as reported in the 2016 Giants 300 Report.
| Sep 16, 2016
U.S. construction companies not embracing technology: KPMG survey
U.S. construction companies are not embracing technological advancements, such as drone aircrafts, robotics, RFID equipment and materials tracking, and data analytics, according to KPMG International’s Global Construction Survey 2016, “Building a technology advantage.
