The Importance of Integrated Construction Software [Video]
Though slow to digitize, leaders in the industry have noticed the increased benefits of construction software for many years now. The most advanced and successful contractors know that construction software investments are key to improvements in business processes and overall financial outcomes. What construction managers sometimes fail to prioritize in terms of software, is the integration of one system to another.
There are an innumerable amount of factors that go into both running a construction business and working on a single project. Of course you have your labor, materials and forecasts to think about. But what about the cold hard data? There is an enormous amount of information living inside all your different software.
If your systems don’t connect your field team with the back office, there’s an issue. Executives are already disconnected from the field, so if both sides can’t ask questions or can’t communicate within seconds, that means wasted time and lost profit. Not only is lost time a financial and project risk, having data floating in various systems paves the way for mistakes. If information is being entered manually into multiple systems, there is huge risk of data entry error. Important figures and formulas cannot be left up to the slip of a finger. Disconnected software is an inherent risk.
According to our friends at Sage, improvements in processes due to software integration include:
- Syncing Up: Data from one system is fully synced with another, eliminating the need for error-prone manual re-entry.
- Decision-Making: Project teams gain immediate access to financial data to enable data-driven decisions.
- Consistency: Up-to-date project and financial data become available in real time, at the touch of a button.
- Contract management: Subcontract and purchase order details are imported directly into your accounting system without the need for double entry. Risk is lowered, and you get an accurate read on committed costs.
- Cost management: PMs are able to retrieve cost information in real time, enabling them to make adjustments if projects are in danger of going over budget.
- Accuracy: Project managers are able to immediately see committed costs vs. estimated expenses, allowing them to create forecasts quickly, accurately, and efficiently.
The better your systems communicate, the better your teams communicate. When information flows freely through an organization, every individual and every project is set up for success.
“Have a common vernacular. Stop building the Tower of Babel with your technology stack. Everybody is trying to bolt on solutions at such a rapid pace with no concept of the foundation that it is built on. Briq is that platform foundation that allows your data to communicate freely.” -Bassem Hamdy, Briq CEO & CoFounder on the ConTechCrew podcast
Briq is the first data analytics platform built specifically for construction professionals. By connecting your disparate software, automating repeatable tasks, and analyzing historical data, Briq enables construction companies to be smarter, more efficient, and drive more profitable outcomes into the future.