In the current construction environment, effective cost management is key. Here are three key benefits to automating the management of your project...
How to Choose the Best Construction Project Management Software for Your Business
Construction project management software is designed to help managers gain greater control, visibility and insight of their construction projects.
Successful construction project management requires managers to stay ahead of schedule, budget, quality and scope to meet client expectations and maximise profits.
With so many moving parts in this process, more businesses are turning to construction project management software to help them simplify and automate their workflow.
If your business is in the market for software to ease your administrative burden, this article will help you choose the best construction project management software for your specific needs.
What is construction project management software?
Construction project management software is designed to help managers gain greater control, visibility and insight of their construction projects. By automating complex and cumbersome routine tasks, it streamlines your workflow and removes inefficiencies.
Utilising cloud-based solutions, it allows all internal team members involved in a construction project to remotely view, share and update information related to the project. Operating in the cloud is also essential for data security in terms of keeping out unauthorised third parties and backing up your information.
Core features of construction project management software include document management, asset management, timesheets, daily logs and quality assurance. Many software solutions also include financial management functionalities like invoice automation, automated purchase orders and forecasting.
How to choose the best construction project management software
No two construction businesses are the same, and neither are construction project management software. Each system is built with different functionalities and will be most suited for a specific type of business.
To choose the best construction project management software for your business, you should consider:
1. Business size and type
There are many different construction project management software on the market, and each has slightly different features and use cases. Therefore, you should look for products specifically designed and priced for your business’s size, field and specialisation.
For example, some software is designed for large firms handling many projects, while others are more streamlined to suit smaller firms and contractors. By shopping for the best fit, you will get the right features at the right price.
2. Product usability and experience
Choosing the best construction project management software for your business will likely require a balance between product features and product usability. Of course, the intention of project management software is to increase productivity, visibility and collaboration.
However, it must still provide a smooth implementation and true benefit to your team. Therefore, you should look for products designed with an intuitive user interface, mobile app functionality and a reliable support team.
3. Software integrations
It's unlikely you will find a single digital platform that does everything you want. Therefore, it is important to consider how your construction project management software will integrate with other digital packages you might already be using, such as accounting, job costing and payroll.
Smooth integration with your existing software will help to streamline your processes, save you time and ensure your data is accurate. Integrations to look for are those connected with your accounting software like Xero, email, takeoff and calendars.
4. Cost-benefit analysis
When done right, implementing a new construction project management software will more than pay for itself in terms of time savings and visibility gained. However, you should take a long-term view and see the ROI rather than the initial cost investment.
Says our partner Payapps, “Many organisations struggle to see the benefits that come with investing in digital solutions; they only see the cost and time investment over the short term, rather than the longer-term return on investment.”
"Many organisations struggle to see the benefits that come with investing in digital solutions; they only see the cost and time investment over the short term, rather than the longer-term return on investment."
5. Request a demo
The best way to ensure your construction management software has the functionality and specific use case you’re looking for is to take advantage of any recorded or live product demos before you buy.
By going through these resources with your core team, you will gain first-hand experience of the product’s interface, features and usability. This will also help to identify pros and cons or potential challenges that might arise from a companywide roll out.
According to Consult Australia, the construction industry is the second least digitalised among all major sectors. Not surprisingly, data-driven decisions and productivity growth are at a flatline. As Consult write, “productivity growth in the construction industry has trailed other major industries by 25% over the past 30 years.”
“Productivity growth in the construction industry has trailed other major industries by 25% over the past 30 years.”
Paramount to seizing the opportunity of continued growth in the construction sector is innovating with new digital technologies, so you can free up time to focus on growth and profitability.
How we can help
At Lentune, we help construction companies streamline the way they handle project finances. Our project cost management and automation tools help you to save money, improve cash flow and increase productivity. We’d love to show you how it works!
In our 10-minute recorded demo, we’ll show you how our invoice automation module streamlines your workflow and gives you more time for the things that matter.