Empowered Contractors can Make Better Decisions Through Data

Empowered Contractors: Make Better Decisions Through Data

Making significant decisions for your construction business can be challenging. Transparency puts the limelight on every move you make as a leader. This is why several construction companies are under pressure to make the best decisions for their organizations.

Construction companies play a significant role in decision-making, but how do you ensure the process you use to make those decisions is adequate?

Keeping track of what your competitors are doing is one way to determine whether or not your approach is working. You may get insights into how you can make better choices by interacting with your team and considering their opinions to make beneficial, critical business decisions.

One more way is to look at your data in a few clicks. What does it convey to you? By interpreting it more closely, you'll be able to see designs and reports that can help drive your next steps.

Data is the lifeblood of construction. Yet it is usually inefficiently sprinkled across the organization, incompetent to supply stakeholders with critical information. Data can support construction labor planning, forecasting, field scheduling, and more when adequately disseminated, up-to-date, and available instantly. With proper planning and technology, the possibilities are endless.

1. Get accurate solutions with digitalization 

Several contractors depend on siloed data managed in spreadsheets, whiteboards, or paper. When information is exploded, there is bound to be dual data entry and inaccuracies, resulting in excessive work across the organization.

To stay up-to-date, contractors are restrained from making duplicative phone calls and emails to the field and office employees alike.

Proper workforce planning yet, provides safe and secured solutions to house and use data smartly. With this workforce data, a single source of information offers a way to stay informed and easily convey updates individually or collectively.

2. Store data for every construction project

Some contractors strive to develop construction software in-house. However, restrictions usually arise that require more work to maintain than it's worth long-term. If contractors are forced to depend on incorrect digital data, they are no better than those using a whiteboard.

A streamlined, robust process must efficiently sustain construction planning and scheduling. Where in-house construction software causes confusion, contractors can discover a solution with ProjectPro, built by construction, for construction.

3. Eliminate human error

Human errors are a fact in every construction organization, regardless of the business size. Simultaneously, contractors have a detailed history to look back on that notifies their decisions on prospective projects, bids, and laborers.

From onboarding a new employee to allocating their first schedule, cloud-based ProjectPro is the software to ensure precise information for everyone.

4. Strengthen data

Across the company, contractors spend hours every week attempting to connect the dots between sprinkled data in multiple, excessive labor meetings. These meetings generally end in frustration because of outdated data entries.

With more useful, digitized planning, data is correct the first time. If your organization seeks aligned, up-to-date information, get a demo to uncover what ProjectPro can do for you.

5. Data analytics in construction

If a business isn't tracking all of these myriad types of data, they don't know where they are financially in the market. This means they also don't know if they're making or losing money at any given time.

Thus, data needs to be stored and saved in an industrial power database with Microsoft Dynamics Business Central. At that moment, analytics and processes must also be documented to ensure maximum performance.

Having all this construction and project data stored in an integrated place and online. With real-time data analytics, you can provide users with accurate, up-to-date, and actionable data about where every project is heading.

6. Streamlined workflows

Usually, construction projects have complex contracts that require consent processes for invoicing. This needs a complicated workflow process to help ensure all data about those invoices is reviewed and approved by the right people.

It's essential to remember that this ought to happen in a specific hierarchy - meaning that the correct data needs to be examined by the right person at the right time to approve payments and streamline cash flow.

Therefore, contractors need to know precisely where projects are at any time. This data, with embedded workflows, enables them to see it and act upon it as fast as possible.

Bottom Line

Making data accessible to your team in the field and office is equally critical, allowing them to capture project data as things develop around them. This data is then available in real-time to workers in the office who are accountable for processing, scheduling, invoicing, and managing the project.