Skip to content

Construction Company Cash Flow and Project Cost Control

When leaders in the construction industry realize they need new construction management software, its usually because of two reasons. Either they simply don’t like the software they are using, or they have outgrown it. If a company simply doesn’t like their current construction management software it is vital to take a deep look into the reasons why. Perhaps it is too difficult to use, or takes to much time with multiple, duplicate entries. Another common reason is it doesn’t produce the kind of reports that your company really needs. Cash flow and project cost control are the major reasons companies have given as to why they outgrew their current management software.

When looking for new construction management software, leaders in the industry are looking for more control over cash flow issues. Poorly managed cash flow can rapidly lead to a company’s demise. The new construction management software should allow you to input data just once, and that data should automatically be used to evaluate your cash flow. In past years multiple, duplicate entries of data would cost a lot of time and money and create the opportunity for human error. The modern software allows for single entry that is accurate and efficient.

With old software programs, by the time you get the report telling you your project is over budget it’s much too late to do anything about it. Your accounting department is neck deep in time sheets and data, spending endless hours inputting that information into the program the company is running. The new construction management software allows for web-based work so you get the most current view of where your project stands. Each worker on the project, from the field technicians to the CEO of the company, can input information from wherever they are and view the information in real-time. Software that integrates your accounting and project management applications together work well to give you an overall picture of what the costs of a project really are. This type of software allows your field workers to be connected to your accounting staff at all times.

Above everything else, when looking for new construction management software, ease of use should be of a great priority. Everyone in the company should be able to use the new software on laptops, smartphones and tablets with confidence. Anywhere there is internet access, your whole team should be connected with each other.

While there are numerous reasons to get a new construction management software platform, cash flow control and project cost control seem to be the most prevalent ones, while ease of use maintains top priority.

Share on facebook
Share on twitter
Share on linkedin

Sign up for our Newsletter

Get the latest training and software information, along with tips and tricks, sent straight to your inbox.