As 2017 Draws to a Close, Is Your Capital Construction Management Software Ready for 2018?

Capital Construction Management Software Increases Efficiency and ROI

Every year, it is essential to assess your construction management software (excel, home-built, or enterprise level) and gauge how your organization and teams utilize software at hand. Isolated data in silos is a massive issue facing many owners who want to ensure their team is as productive as possible.

Having an enterprise level capital construction management software can increase team efficiency, ROI, and overall project success is through a single source of truth that encapsulates data, communication, and reporting at one location that is role-based accessible to all team members and owners through any mobile device or desktop capable of internet connection.

  1. Data Management

    Including access to data between departments, it is crucial to have all project data easily labeled and categorized. The average employee spends over 30 minutes a day searching for documents. That leads to over $3,900 loss per year per employee.

    By using a document management system for your capital construction projects, it increases your teammate's ability to view documents, make redlines, accept changes, email approvals, and more: all from their phone or tablet of choice.

    With Projectmates, owners and project members can have full access to all project files, tasks, and responsibilities regardless of location.

    Projectmates also acts as an all-in-one platform for owners, executives, and project managers alike to collaborate more efficiently — increasing efficiency, accountability, and productivity while also reducing costs. Additionally, a robust enterprise-level construction management software has the ability for easy integration.

    Data management with integration for existing software is crucial as well. This is because with integration with accounting software and project management software, a project manager can approve invoices, and those invoices information can be streamed to the account payable system. All of this is reliably updated and tracked within a construction management software like Projectmates.

    Once checks are cut, payment information can be sent back to project management software, and it will update the project with budgetary details. This helps avoid duplicate entries and data entry errors while reducing efforts and increasing efficiencies when using a single source of truth and collaboration like Projectmates capital construction management software. It also reduces the time it takes to pay your teams with minimal data entry based on an automated system.

  2. Capital Fund Tracking

    It is imperative for owners to be able to track the cost of multiple projects that have multiple funding with up-to-the-minute mobile technology. Many excellent software tools help do this, and as an Owner, it is vital to choose the correct one for your organization and business.

    Multiple funds can be created, grouped, and balances can be tracked in Projectmates. Planners can allocate funding to capital projects by fiscal year and project phase. With its intuitive design and workflows, Projectmates project management software for construction makes this complicated process simpler with its graphical representations of projects, costs, and allocations.

    Is having a SOC 2 Type II certified, secure enterprise-level construction management software important? Yes.

    This is the same security standard used by government and banks for ensuring data is securely sent and received by the correct person. Your financials are essential, and being able to have quick access is needed going into 2018.

    Projectmates is known for having capital improvement tools explicitly designed to help provide Planning & Development Executives a highly robust Capital Planning Software to strategize and track their capital projects and funding sources.

  3. Team Management

    Construction project management software allows teams to communicate across multi-departments and job roles successfully. Projectmates enables an owner to fully encapsulate their project, business processes, invoicing structure, workflows, and more in one single source of truth.

    By doing this, an owner can easily see and navigate multiple projects to see who, what, when, and where progress is being made as well up-to-the-minute information on project budgets. All this information is available at their fingertips using any mobile device or desktop computer that is web accessible.

    Teams can easily communicate updates to one another and project managers with field reports, submittals, punch lists, meeting minutes, discussion forums, and more. Efficiently tracking documents and photos is important, as well as giving the ability to annotate and mark up photos and drawings before saving them in the system and sharing with team members.

Construction projects have become increasingly more involved over the years. One of the most challenging aspects of construction projects is efficiently communicating with the many people involved in just one project, let alone the many projects that organizations have going on at once.

This and many other aspects are what an enterprise level construction management software can offer your team going into the New Year. A robust software offers ROI that can pay for itself and increase company value by improving efficiencies. Owners should be on the lookout for “Owner-Focused” construction management software that will be robust enough to handle hundreds of projects simultaneously while decreasing data entry and mistakes.

We are excited going into the New Year to continue our partnership with our clients and increase efficiencies across projects in every industry. Our innovation lab is hard at work with some new updates to our award-winning system, many coming from our clients. We always strive to future-proof our technology and give the most innovative technology available.

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