While most homebuilders would acknowledge that they require a complete construction management software solution, many are still piecing together various spreadsheets and tools to handle their operational needs. In this 5-part series, we will provide you with guidance to select the right software solution that fits your needs. We will also demonstrate the features and benefits of construction management software and examine the keys to a successful implementation.
What is construction management software, and why do you need it?
Construction management software is a tool designed to improve productivity, enhance efficiencies, and streamline the operations of residential builders. The software is more than a construction sales leads system, an accounting system, or a home production system: the true value of the software is in integrating all these business functions together. Residential construction companies approach homebuilding in many ways – all of which can be optimized through a comprehensive management system.
The 5 benefits of construction management software
360-degree operations view
Combining all pertinent information, such as billings, costing, labor, materials, committed costs, change orders, purchase orders, and profitability displayed in a single view, provides you with the insights needed to quickly identify anomalies, correct them, and make smarter business decisions.
Complete project life cycle management
Achieve project control and accuracy by having the ability to manage estimating, scheduling and purchasing from the beginning of a project to closeout. With the added benefits of workflow and document management that captures all completed activities, tasks, reviews, and approvals. It can compile real-time actual to estimate reporting, and ensure projects are completed on time and within budget.
Up-down and side-to-side reporting
It also measures the business effectively by reporting from the individual lot level to the community, division, and company level, including multi-company and joint ventures, and automated bank reporting for loan draws.
Integrate back office and field personnel
With fully integrated mobile and document management solutions, superintendents, trades, and vendors can perform complex tasks with ease, including schedule changes, invoices, and purchase orders.
A single version of the truth
Everyone is aligned across the business and has access to the same information. Every number entered in the software reconciles and is the same across all functional areas of the business, from accounting to sales to project management.
Laying the groundwork
Understand YOUR own unique requirements for Homebuilder Management Software before speaking with software companies or watching a single software demonstration. It is important to identify what your five-year goals are, and how software tools will help you achieve them. Keep this in mind as you set off on this journey. This software will serve as the foundation for all your company’s future business operations. In the second part of this five-part series, we will look at the 4 key considerations when evaluating a construction management software.