“We like to do things the old-fashioned way: with pencil and paper.”
“Why fix what isn’t broken?”
“We would have to invest so much time to train our team how to use this new technology – and we are simply too busy.”
These are just a few of the responses that we get when we go out and speak to subcontractors about adding technology to their firm.
The ironic thing is?
They may go home and watch some Netflix, or do their shopping on Amazon, or book their next vacation with Expedia. They may be the first to complain when their iPhone is too slow, or their online delivery will be delayed a couple of days. They seem fine adopting the new technology that is now part of our everyday lives.
Except in the office. For some reason this is where they draw the line.
It is true that the construction industry has been one of the slowest to digitize and there are still plenty of firms still dragging their feet in upgrading their project management capabilities.
But soon that will change – technology is advancing rapidly in construction as well. Those who are able to use technology to become more efficient will thrive, while those who are stuck in the old ways of thinking will go the way of Blockbuster, Sears, and even your local travel agent (Remember those?).
Are you one of those companies that will be left in the dust? Check if any of the following sound familiar to you:
- Drowning in Spreadsheets – Do you have spreadsheets of spreadsheets organizing everything from COIs to diversity spending? Do you often have to sift through your emails or your Google Drive to find a specific document, only to find that instead of uploading Version 24, you uploaded Version 23 and have to hunt down what was changed? According to a recent report, over half of all construction firms still use spreadsheets for file and data sharing. Not only is this cumbersome, it also isn’t secure (think cybersecurity threats) and prone to miscommunication (“I never got that email you sent”).
- Making Simple Errors – When most of your back-end work is done manually, there are bound to be some errors – no one is perfect. Whether it is a transcription error on an invoice or some issues with a diversity filing, errors can cost your business through fines, delays, or reputation with your customers.
- Spending Hours to Answer Questions About Your Business – Say you needed to make an important presentation tomorrow and you needed to know how much your company spent on minority-owned subcontractors (and their subcontractors) for a specific project in July. Would you be able to pull those numbers up at the drop of a hat? Or would you have to pull spreadsheets from all over and add them up individually? Every hour spent wrangling these documents is an hour you could be either winning more business or relaxing after a hard day at work.
- Being Behind on Invoices – When invoices begin to pile up and you don’t have a good management system, it will be easy to lose track of what has been billed, what has been paid, and which ones are being delayed. The slower you bill, the slower you get paid. Since the average time to get paid is more than 90 days in construction, this could lead to significant cash flow issues for your company.
- Seeing Your Competitor Win All the Bids – Are you seeing a competitor which you used to beat out now win all the bids? Maybe it is because they have added more technology to their process and understand how much their costs really are – and can thus put together more competitive proposals. Or maybe because they have now become more efficient and can free up more time for more difficult jobs. Either way, it is possible that your competition now has a significant edge over you.
If this sounds like you and your company, good news – Constrafor can help! With our state of the art, cloud-based software solutions, we can put your company back on top and ahead of the curve. Because the truth is you just can’t build a construction firm in the 2020s while having a back-end system closer to the 60s. Even Congress recognizes this – in the latest infrastructure bill, Congress approved $100 million to “accelerate the deployment and implementation of advanced digital construction management systems.”
So what exactly can Constrafor do?
- Document Management – Forget all your cumbersome spreadsheets and tracking which versions are the right ones. With Constrafor’s back-end management system, you can store and organize all of your project-related documents under one platform, including invoices, COIs, diversity certifications and more.
- Invoice Submissions – Constrafor can ensure that your clients received your invoices and your documents, no more excuses such as “We never received them” when it is clear as day in the platform that the proper documents have been submitted.
- Report Builder – Create reports at the click of a button. Need a report for a potential customer? Check. Auditor? Check. Just want to know more about your own company to make better business decisions? You can do that too.
- Early Pay Program – With Constrafor’s Early Pay program, subcontractors can get paid just days after general contractor approval, which allows you to get your money in days rather than months. This not only prevents cash flow issues but also frees up the resources to bid on more jobs.
Basically, Constrafor can be your company’s first step to adopting new technology and participating in the digital revolution in construction. By improving your back-end systems, you’ll be able to save time and money. We have already saved our clients hundreds of thousands of hours, not to mention millions of dollars – and we want to help you as well.
So what are you waiting for? Sign up for a free trial today and make sure that you stay competitive in today’s cutthroat world of construction.