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The Labour Party has outlined several strategies to boost the construction industry, focusing on accelerating infrastructure projects, addressing housing needs, and reforming planning processes. This is promising news for the UK construction industry which has needed a boost after witnessing signs of decline over the last few years due to economic conditions and environmental factors such as the Covid-19 pandemic, Brexit and skilled labour shortage.
As a firm in the construction sector, you may have likely welcomed the pledges from the new Labour Government. However, is your firm equipped with tools robust enough to manage growth and do you have processes in place to take on additional projects and keep them running to time and budget?
Unlike other industries, the construction sector has been particularly slow to adopt technological developments, however the challenges faced in the industry over the last few years has highlighted the need for efficiency and accuracy and has driven firms to embracing technology and embedding this into daily operations.
When tackling construction sector growth, the reliance upon technology has become even greater, and it has become fundamental to leverage technology to improve efficiency, reduce costs, enhance safety, and streamline project management. Let’s look at some key areas where software can make a significant impact:
Construction projects are complex and involve lots of parties working together, often at different times which requires a great deal of coordination and collaboration. One of the biggest difficulties for construction firms is achieving this, which is why on average 150% of projects go over schedule, adding to cashflow difficulties as funds are delayed and future projects are postponed.
Construction software can help companies track progress, assign tasks, set tasks and monitor budgets, giving real-time updates on progress from step to step, allowing managers to identify issues or bottlenecks early and take appropriate action.
Document management functionality centralise document storage and ensure all relevant documentation such as invoices, plans, safety certificates, building permits are stored in a central location. This eliminates time-consuming paper-based systems, which leave organisations vulnerable to document loss, and makes it easy for anyone across the organisation working on a project to access the information they need, whether they are on site or in the office.
Did you know that cost overruns affect 9 out of 10 construction projects? Having a construction solution in place can help contractors accurately estimate project costs and prepare bids using historical data to accurately estimate areas such as material costs and labour rates. These tools can automate many aspects of the estimating process, improving accuracy and saving time and providing confidence that project estimates are competitive.
Integration is key! Finances and payroll are important areas of any business and the ability to integrate these with construction project management is essential so that invoices can be created, financial reports generated and payroll and subcontractor rates of pay managed. This will ensure cashflow is being maintained and financial obligations are kept in check.
When it comes to regulations, there is certainly no shortage in the construction industry and safety should of course be a top priority for all construction firms. Implement a health and safety solution to help you manage overall site safety by tracking and helping reduce incidents, monitor regulatory compliance to protect from penalties and assisting with the development safety policies and procedures.
Construction projects involve many different workers, each of whom may be working on different tasks at different times. Time tracking can help construction companies track the time spent by each worker on each task to help construction companies identify inefficiencies, monitor productivity, and ensure that workers are being paid fairly.
Working in the construction industry requires the ability to make timely, smart decisions to proactively react to challenges that may arise. To do this it’s essential to have access to key information in real-time such as job costs, subcontractor payments, purchase order receipts, retention release dates and values and much more. This is one of the biggest benefits of a construction solution as all this information, and much more, can be available at the click of a button.
Many construction firms will have welcomed the pledges from the New Labour Government to support growth within the construction industry, but with cost overruns and project delays notoriously high within the industry, do firms have the solutions in place to manage the increased business promised to come their way?
Harnessing software can help construction companies to enhance productivity, drive efficiency, reduce costs, improve safety and increase accuracy. This will help to manage projects successfully and sustainably whilst keeping them running on time and within budget to drive profitability.
To learn more about how CIS 5 and Opera 3 SE from Pegasus can help, please contact us today for a friendly, no obligation discussion.
Posted On: July 30, 2024
