A PLATFORM LIKE PROCORE PROVIDES AN END-TO-END CONSTRUCTION MANAGEMENT SOLUTION SO THE ENTIRE WORKFORCE HAS ONE PLACE TO COMMUNICATE .
INDUSTRY WATCH
Brandon Oliveri- O ’ Connor , Head of
Region , EMEA at Procore Technologies you democratise access to growth within the company . Retaining great talent is a key element to building the future resilience of your business .
4 . Develop effective costcontrol measures
Accurate project cost estimates help protect expected margins . Use your construction project financial management platform to improve spend visibility through a reporting dashboard . This will allow you to track real-time spending and be more agile in making necessary changes to get back on course .
In the same tool , you can build project budgets , track actual costs against projected figures and set automated alerts to notify you when you ’ re tracking over budget . Instead of waiting until you ’ re already over the threshold and urgently going into fire-fighting
A PLATFORM LIKE PROCORE PROVIDES AN END-TO-END CONSTRUCTION MANAGEMENT SOLUTION SO THE ENTIRE WORKFORCE HAS ONE PLACE TO COMMUNICATE .
mode , organisations can address rising costs in a timely manner and curb their impact on the overall budget sheet .
Building workflows that automate the invoice approval process is another smart move enabled by technology . It helps you work through budget allocation faster ( a cost-saver in itself ) and ensures that every cost is approved by the relevant stakeholders , thereby bringing attention to costs in a timely manner .
5 . Historic data unlocks future trends
Digitising your processes means you ’ ll be creating lots of data and that ’ s what every organisation should strive for . When everyone has access to the data they need , they make informed decisions faster . This constant , up-to-date flow of information helps everyone stay ahead of risk-correcting issues before they become real problems . For example , instantly available historic data is invaluable when it comes to quick and efficient dispute resolution .
As you start to collect large sets of data , you begin to discover patterns about the business . With all data in one place , you can generate project and portfoliolevel reports . Access to historical information lets you see where things went well and what could be done differently . This means you can make the necessary changes for the next project , building a set of best practices as you go and more importantly , driving more predictable profits .
Final words
Finding efficiencies in an industry as complex as construction is not an easy task . But building a resilient company means using challenging times as an opportunity to change what isn ’ t working for you anymore . Digitising your processes now is going to make things easier in the future . Find a technology partner who understands your business needs and will stick around past the sale and help in the implementation phase .
For more than 20 years , Procore has worked hand-inhand with construction businesses across the world creating a construction management platform that connects their people and processes throughout the entire project lifecycle . In this period , Procore has helped customers find efficiencies and protect margins with a technology solution that grows and adapts with them into the future . In today ’ s challenging times , that ’ s more important than ever . p
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