Managing multiple moving parts across numerous sites is the nature of the game when running a successful construction company. Whether you’re working on a multi-story apartment building or a new commercial site, each project will require managing your staff, assessing budgets, and maintaining a high standard of work, as just a few things to keep top of mind. This is no easy feat.
Not surprisingly, more businesses are starting to utilise project management software to automate their admin processes. Essentially, project management software for construction companies is a tool to help teams gain greater control, visibility and insight into their construction projects.
Although project management software not only gives you more oversight of projects, it can also have huge benefits on your bottom line. This article shares our insights on how project management software can benefit your construction business.
Stay up to date on the go
The construction sector is an industry that’s always moving or on the go. The nature of this means that not everyone makes it to the office daily, often causing delays or misplacement of important administrative tasks like invoice approval, creating purchase orders or submitting timesheets.
With project management software, however, you and your team will have access to mobile app functionality, allowing you to update and manage project documentation no matter your location or what time you need to access it.
With just a few taps of a finger, your team will be able to fill out and submit important documents live to your network, helping to save time and improve collaboration.
Share your information
When it comes to project management software for construction, sharing is the key to success. The more information shared across your team, the better understanding everyone will have about a specific build.
Information from the sites you are working from is critical for accurate budget forecasting and actual spend reports. This is just the tip of the iceberg for what project management software can do to increase collaboration and visibility in your construction business.
When it comes down to it, project management software for construction is a collaboration tool. With more moving parts and people than your average industry, clear communication and cooperation is key to success.
Information is power
Utilising project management software will open up a whole new world of insights and visibility for your project managers and business overall:
With project management software, you get a more granular view of each project spend. As soon as spending information hits your email, it will be attributed to a specific budget for a specific project. You will even have the ability to segment individual cost codes or add any additional variation you require to have a full picture of your budgets.
- New insights create smarter decisions
With project management software, your project costs are now visible across your entire team, helping to spot trends and patterns that you can use to your advantage. Rest well knowing that your team has this information in real-time so the decisions they do make are not only data-driven but also accurate at the exact time they are making them.
Previous costing information will be available at the click of a button. Meaning you can use them for supplier price negotiations and to ensure accurate quoting for future jobs. View committed and direct costs from all POs, supplier invoices, and labour costs against specific cost codes. This will give you a clear picture of where you sit within your budgets and forecasts.
With visual learning, you can use your project management software to paint a clear picture of your construction company through tools like Microsoft Power BI. Visual reporting can be used to spot trends both positive and negative. Change the settings and you will be able to dig deep into any detail of your business. These visuals can then be shared with your team for a better understanding of a specific issue or used in meetings with vendors or clients.
Wrapping it up
Project management software for construction companies is the beginning of streamlining the project management aspect of your business. It helps you to have a bigger and clearer picture of how your business operates. This keeps your projects on schedule, under budget and to the highest standard.
Be able to have a bird’s eye view of what is going on at each work site, identify any issues that arise at a faster rate and remedy them, and provide all the information required to your team so they can efficiently carry out all roles on the project.
With the world becoming more and more of a digital place, it only makes sense to take some of the hard lifting off your administrative back. Implementing project management software into your construction business will be the key to unlocking more growth to your bottom line.
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.
Watch a Demo!