Solving Contractor Concerns with PSA Software
Like the rest of the world, the construction industry is also experiencing the disrupting force of digitalization. However, unlike other sectors that are adopting technology across all aspects of their production capacities, the labor productivity level in construction projects is lagging and remains stagnantly close to levels set 50 years ago. Construction contractors seeking to shake off that stagnation will find the technical tools they need in Beyond Software's professional services automation suite.
A Big Industry Getting Bigger
Already responsible for as much as in many regions, a successful construction industry is a solid foundation for a successful local economy. Many companies remain mired in the ways of the past, however, and have not yet modernized how they manage and complete their construction contract work:
- According to a study by the Construction Owners Association of America (COAA), more than 60 percent of direct labor time on large construction projects is consumed by planning the project at the beginning and through its evolution, travel to and from the project, and waiting on materials deliveries. The lost time also means a loss of profitability.
- Design and build specifications are becoming much more diverse and complex, as the architecture and building industries attempt to include future-leaning concepts into current day building practices and customs. Complications that arise in any one technology element can set the entire project back for days or weeks.
- The challenge of finding and retaining skilled labor is also compounding the concerns of the contractor. In a study by the Associated General Contractors of America (AGC), more than half of their survey respondents stated they were unable to find and hire the skilled professions of supervisors, engineers, and estimators.
These concerns generate additional stress for the contractor professional, who must manage them as they pop up throughout the term of the construction contract. Without comprehensive tools to assist in managing all those details, it's not surprising that only 15 percent of all major construction projects come in both on time and on budget.
Manage Your Contracts Better With Beyond Software
With the goal always to remain profitable, the contractor project accounting software by Beyond Software is designed specifically with the construction contractor in mind. The programming captures, calculates, and reports on the specificities and nuances of the contracting trades and provides the tools needed to accurately capture project details such as:
- job costing budgets;
- profitability per project;
- work in progress reports, and
- payment applications
Tracking both the budget and schedule of a complex project is becoming more intricate and demanding. As the construction industry continues to evolve, contracting companies that take advantage of the technology designed to master its complexities will have the edge over their less-technologically-savvy competitors. The contract-focused professional services automation suite by Beyond Software provides that technology today.