Computerease

Critical Issues

One of the most serious issues for contractors is the lack of credit available.  Even in the best financial times, contractors struggle with cash flow.  A typical project requires spending money on labor and materials up to ninety days before any money is received.  During the current financial crisis, this timeframe could increase, making the availability of credit a key factor in a contractor's business.

Being able to provide accurate and timely financial and job cost information is critical to a contractor's success.

Current Trends

The fastest growing technology in the construction industry is remote communication using new Tablet PC technology.  This gives field supervisors an easy and proficient way to enter data with handwritten input. 

Custom timesheets, prepared in the field daily and e-mailed back to the home office payroll system, eliminates dual entry in the accounting system and ensures timely payroll preparation. Work order processing is quicker, given the ability to handwrite work completed and automatically price the work order on the spot.  Parts from inventory, billing rates, flat rate pricing codes and customer information are accessed from the interfaced accounting system at the home office.  When the work order is complete, inventory is updated, accounts receivable is posted, site history is maintained and all accounting is updated through wireless connection. Best of all, the customer can sign the work order directly on the Tablet PC for electronic storage and transfer back to the office. The tech can include electronic notes, diagrams or special billing instructions to accompany the work order or invoice.

All of these changes will affect the contractor's business practices and make them more efficient and profitable.

Looking Forward

Our company is on the leading edge with our FieldEase for Tablet PC application that allows contractors to remotely process time sheets and work orders. We also specialize in helping contractors analyze their jobs to identify and correct problems before it is too late.  All of this will help our customers become more profitable in today's construction market.

There may be tough times ahead in the construction industry, but the contractors that utilize these best practices and become more efficient in their businesses will not only survive, but will become more profitable.

Government Compliance

Some of the legislation in today's litigious society has forced contractors to be better documented.  A system like ours helps them meet these ever-changing requirements.

Additional Insights

Even in these tough times, the contractor who has all the right tools and processes in place will be able to grow their business. The key to that growth is to analyze what they are doing now and use that information to increase their profits in the future.

Best Practices

Our most successful customers are those that are able to analyze today's information and use it to project where there are going. By doing so, they are able to spot potential problems before they happen and make necessary adjustments to protect their profits.

Tags: 2009 January Issue , Executive Insights , State of the industry , Technology and Software Executive Insights