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5 Important Software Systems for Construction Companies

Construction companies need an integrated construction software systems to help them optimize workflows in all departments and increase overall profitability through standardization and also use complete construction management systems to help in the consolidation of processes and employee productivity improvement.

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Among the many business automated solutions available out there, here are some best construction management systems that are considered important for construction companies and also for your company’s overview also you can get a free demo by downloading software pricing scheme calculations here.

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Table of Contents

1. Project & Contract Management

Project Management Software Systems

Project management is one of the most crucial parts of a construction business. There are many phases and processes involved in project management, such as planning, budgeting, estimating, task delegation, project supervision, contract management, and also so on. Project management can also be handled by using integrated construction management software.

All complex and repetitive processes can waste a lot of time, costs, and also resources when done manually. Therefore, construction companies need a comprehensive construction software system with automated solutions that can simplify these processes, so that various tasks can be completed promptly and client satisfaction can be improved.

Project Management software systems enable construction companies to create stages in each project. For example, oversee every progress, delegate tasks to the right employees and monitor their performance, manage budgets, forecast revenue from each project, maintain contracts, and also much more. 

Some common features of modern project and contract management software systems are:

  • Task Management allows the supervisor to distribute assignments to the right person with the specified deadline as well as monitor the task progress
  • Expense and Billing Management allows contractors to manage the expenses incurred for each project, create invoices, and also monitor the status of payments
  • Contract Management enables contractors to create, edit, and also monitor contract deadlines with clients through a single system
  • Analytical Reporting allows contractors to analyze projects, employee performance, forecast revenue, and also figure out profits and losses
  • Timesheet Management helps contractors monitor employee working hours so that it makes it easier for them to estimate their salaries

2. CRM

CRM Software Systems

CRM (Customer Relationship Management) software systems are important for any type of business that deals with customers or clients and even partners, including the construction business.

Not only makes it easy for contractors to maintain all information related to clients in a centralized repository. In addition, it also maintains all data that relate to their partners, such as subcontractors, banks, architects, and others.

CRM helps construction companies track customer details and manage the sales process more systematically. It allows contractors to focus more on high-potential opportunities and forecast the revenue earned from each client. You can download CRM software system pricing scheme calculations for your overview before applying the system to your companies.

The general features of modern CRM systems include:

  • Customer Database Management helps contractors manage lead and also client data for ease of tracking
  • Sales Pipeline Management allows sales teams to create and also monitor sales stages, track sales status, and analyze opportunities
  • SalesForce Management helps sales managers distribute leads to the right salesperson and monitor their performance
  • Email Marketing makes it easier for the marketing department to create and personalize marketing campaigns for leads and existing clients according to their segmentation
  • Sales Reporting allows contractors to gain complete insights into sales profits and losses, analyze clients and leads, figure out sales turnovers, etc.

3. Inventory Management

5 Important Software Systems for Construction Companies

 

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Inventory management is crucial in the construction business. With multiple work locations, construction managers must be able to ensure that all the materials and equipment are always complete.

Missing equipment can result in heavy losses for construction companies. Therefore, they need software systems that can help them track all the equipment across all work sites.

Furthermore, inventory management software systems help contractors ensure the availability of materials and equipment, speed up tool tracking, identify the equipment value for their business, control expenses for purchases, smooth out the ordering process to suppliers, and also much more.

Here are some common features of sophisticated inventory management software systems:

  • Stock Level Management allows inventory managers to set minimum stock levels and turn on alerts that notify when the level of materials or equipment is reduced (for example due to loss or damage)
  • Procurement Management enables the person responsible for the inventory to automatically re-order certain materials and also equipment to the supplier
  • Multi-Location Support enables construction companies to monitor their inventory across multiple work locations
  • Supplier Management maintains all supplier details, making it easier for contractors to compare one offer to another
  • Inventory Forecasting helps companies forecast future needs of materials and equipment to avoid unnecessary purchases

4. Accounting

5 Important Software Systems for Construction Companies

All businesses require good accounting management to ensure that their cash flows remain stable, including construction companies.

Also, accounting software systems help construction companies manage daily accounts, control expenses, process bills, and payments, pay taxes, and generate various types of financial statements. Some common features of accounting software systems are:

  • Billing Management allows companies to automatically send reminders of payment deadlines to clients
  • Tax Management helps companies identify and manage taxes easily
  • Payment Management helps contractors process various payments from clients and monitor the payment status
  • Invoice Management allows companies to create personalized repeat invoices for different clients
  • Financial Reporting allows companies to generate various types of accurate financial reports such as income, cash flows, capital changes, etc.

5. HRM

5 Important Software Systems for Construction Companies

Employees are the most important assets of a construction company since they are the ones who help the company continue to grow. Therefore, contractors need to ensure their welfare.

Moreover, HRM software systems can help construction companies meet the needs of their employees. Here are some of the main benefits of HRM for construction companies:

  • Manage employee salaries based on their working hours
  • Monitor attendance and manage employee leaves
  • Process reimbursements for employee expenses incurred for project purposes
  • Create surveys and also assessments for employees
  • Facilitate the recruitment process for future projects

Above all, you need to know what software your company needs the most and the available budget before you implement these software systems. But, you can consider implementing all-in-one software hassle-free. In summary, you can use Construction Management Software which consists of the aforementioned software components so that it can simplify the construction business operations as a whole. Download now construction management software pricing scheme calculations based on your business requirements.

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