Why DMS Can Help Your Construction Company Grow
In 2016, the construction industry is projected to grow at a rate of 13%. While this is certainly not bad considering how many industries are projected to suffer, there are still some things that can be done to increase this number. A document management software (DMS) program is a key tool that can increase the rate of growth in construction companies.
DMS technology offers some important benefits that can create this growth, including better billing, improved communication, and streamlined storage methods. This article will further outline these and other important factors of DMS programming that can create the right atmosphere for growth in the construction world.
Bridges the Gap Left by Unskilled Workers
If this is something facing your company, then a DMS program is a great investment to make. Once this program is installed and set up, things will be a lot easier to handle on the tech end of things. These programs can automate many important processes within the business, including, but not limited to, the following:
• Receiving invoices
• Sending invoices
• Organizing payroll
• Filing taxes
• Handling HR filing
• Managing information security
• Analyzing data
When the program seamlessly handles all of this, it gives you more time to spend on training, on-the-job education, collaboration, and more, so you can quickly turn your inexperienced employees into experienced employees.
Streamlines the Workflow Process
Technology has made life easier in a lot of ways, but in the construction world, it has actually created some big disadvantages. Architects and construction managers have many more responsibilities now than they used to, and the growing list of duties makes it hard to cope well and welcome more projects.
Utilizing DMS technology will handle a lot of these responsibilities completely, or at least make many of these duties easier to handle. Taking the stress off in this manner will free up time, energy, and mental space for these important figures to take on more projects.
Increasing the ability to take on new clients and projects is a key part of growing a company and enjoying the projected growth expected for the industry. Worksite processes will be made much smoother and more productive when this kind of technology is in place to automate the work.
Big data is something that is familiar to many industries, and it makes a lot of sense. Any company relying heavily on computer technology and online marketing will obviously create a large reservoir of information. The truth is that the construction industry collects a large amount of data every day. Supply quotes, client information, marketing data, payroll notifications, employee HR information, land details, and other such things are all pieces of data collected and stored by this industry.
Document management software can create big growth in the industry by taking all of these nodes of information and storing them in one organized and comprehensive place. This data organization creates some important benefits, including the following:
• Makes it easier to recall data
• Creates a more secure storage option for sensitive information
• Clears up office space
• Eases the pressure on the HR department
• Makes tax season go more smoothly
• Offers analytical benefits
That last bullet point is one of the most important things that can lead to growth within the industry. As construction companies are able to take this data and analyze it, they will be able to make more informed decisions about marketing, purchasing, and hiring. Information management is one of the most important benefits offered by this form of technology.
Increases Collaboration Efforts
Missy Stein with Pro Core states, “Information is useless if it can’t be referenced, leveraged, and most importantly, collaborated on. A construction project is a prime example of this. Drawings, submittals, RFIs, COs, and meeting minutes, for example, must all be accessed by multiple people in order for work to continue. If team members do not have access to this info, the job would have to come to a halt.”
The need for collaboration in this industry is huge, and a DMS program can increase the effectiveness of collaboration. Communication is easier, as the needed documents can be accessed and sent from any location and device. The ability to share and receive information from a global standpoint really can create the right atmosphere for growth in a company. Construction industry growth will only happen with the use of the right tech tools.
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