How Subcontractor Software Helps Your Business
As construction companies struggle with issues of slow productivity and a growing talent shortage in the industry, construction technology (ConTech) has taken a front seat as a solution. Yet, companies that usually work as subcontractors may assume this technology is only utilized by general contractors. This couldn't be further from the truth. When compatible ConTech is used across an entire project, many benefits are realized. Here are just a few ways contractors and subs benefit from the use of subcontractor software.
When software and other technology reach the end of their expected lifespan, updates are no longer available. Technology and software without updates to protect against current security threats can leave your company's sensitive information vulnerable to attack. Any company that gathers or stores a customer's financial or personal information is responsible for keeping it secure. Poor security measures can leave you open to privacy lawsuits. Additionally, your aging software can act as a back door for hackers to access the network of the GC or other companies working on the project.
New technology is packed with security measures to identify current security threats and eliminate security issues before they affect your company. Routine updates to the software and cloud technology help to ensure new threats are realized before they even become a threat to your system.
In the construction industry, time is money. Unfortunately, there is a multitude of reasons a project can be delayed. New ConTech addresses the issues that cause delays in a project. It also seeks ways to improve on the issues caused by older technology and systems. When subcontractors adopt new tech, they work more efficiently with other teams on the project. Additionally, subcontractor software can help GCs navigate the talent shortage by allowing them to have several subcontractors at their disposal.
In the past, many construction processes forced contractors and office personnel to depend on several different systems to keep up with the many working parts of a project. Newer technology is designed to integrate systems so they work together and eliminate the need for manual data entry. By getting rid of time-consuming processes, workers can concentrate on more crucial tasks and avoid the risks of human error.
Product Management for Large Projects
Job availability keeps your company in business. When general contractors take on a large project, it often requires three or more tiers of subcontractors to complete all the details. Subcontractor software adopted by each company puts everyone on the same page, making it easy to keep up with change orders, delays, pay apps, and progress throughout the course of the project.
Safety is paramount on any construction site. For this reason, many federal, state, and local regulations must be followed on any project. Failure to comply with these laws can result in fines, delays, and other penalties. Additionally, legal cases often depend on claims of negligence and non-compliance. Subcontractor ConTech with built-in compliance specifications can help subcontractors maintain and prove compliance. The result is a simplified process for subcontractors and an easy way for GCs to verify whether subcontractors are registered.
Room for Growth
Changing processes and streamlining your team's workflow can only take you so far when it comes to growing as a company. Old technology can leave your company with no room for forwarding movement. Businesses that reach the height of success are never satisfied unless they're improving their bottom line. Adopting new technology can help companies take on more work and attract new customers. Companies that fail to keep up might end up losing work to their competitors that keep up with technology growth.
Invest in Upgrades
When you have depended on aging technology for years, it will eventually need to be replaced. Delaying replacement could leave you facing sudden failure. Waiting for your existing software to fail is like a ticking time bomb for your business. Sudden system failure can cause delays or even completely derail a lucrative project.
Investing in modern technology before facing such a disaster gives you more control over choices that will fit into your budget and improve the way your company works. Updated technology makes subcontractors more reliable and more likely to win high-paying jobs.
Ease of Communication
Large construction projects have many working parts. Even smaller projects rely on communication between office staff, clients, project managers, suppliers, and different teams in the field. Subcontractor software provides a platform for all parties to communicate issues, progress, and delays that might change the way a subcontractor approaches a job. Subcontractor software can allow contractors to monitor emails, import contacts, share notes, and receive daily progress reports. These communication methods can also reduce travel costs when project managers don't have to visit the site as often and remote communication with the office staff is enabled.
Improved Payment Processes
No matter how accustomed you are to submitting or collecting pay apps, there is always room for delays and errors. Construction billing software for subcontractors can utilize a variety of processes that prevent payment delays. Construction billing software can be used to securely store documents, enable remote signatures, and complete pay apps. The result is improved productivity and fewer mistakes when filing pay apps. By reducing human error and using customizable, standardized forms, pay apps are less likely to be declined and result in delayed payments.
Construction technology is advancing in ways that streamline every aspect of construction projects. Instead of accepting that delayed payments, errors and cumbersome tasks are a part of the business, contractors and subs can automate repetitive processes and concentrate on building. Whether you're ready to upgrade your existing software or simply searching for a way to improve workflow and offer better work conditions, subcontractor software is likely the answer. Ensure you're using powerful software to give you the edge on competitors and help you secure and maintain general contractor relationships. Contact the construction billing software experts at Flashtract to learn more about the software that's easy to set up and has a 100% subcontractor adoption rate.