Choosing The Right Technology For Your Construction Company
There is no doubt that construction can benefit from technology, but with margins as tight as they are, contractors are wise to take the time to understand how each option will affect their bottom line. Most of the time technology is there to alleviate risk and avoid unseen issues but with the right technology contractors can not only avoid losing profits but actually actively increase their margins and put more money in the bank.
Bobby Rios, CFO of Bartlett Cocke sat down with Mike Merrill during the annual Brayn Architectural Engineering Construction Summit 2022 to share the best strategies for building your construction firm’s tech stack, how to keep your options open with new and old employees, and how the job site has changed forever.
- Technology should be driving your margins and increasing your profits. Today’s technology is not only built to detect and manage real and potential issues today’s technology can be used to determine opportunities for new revenue and profitability. Make sure that your technology is the right technology for your business so that it has the ability to find and process data that will drive profits into the bank.
- Technology can make other opportunities appear better than they are. Technology is not an end all be all for your business. By building your business on the right cultural and moral standards and strategically using tech to increase productivity in all key processes you will have a business that will stand up under any competition. Keep lines of communication open with employees that leave your business you will see more return than you would expect and with gratitude.
- The days of the manager’s trailer are over. Technology has made the job site office a relic of the past. With information being shared on devices across the job site there no longer needs to be a centralized physical space for plans and communications to reside. Leadership can now spend the day out on the job site engaged with the workers and the work instead of being stuck behind a desk.