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By Justine Diaz
July 3, 2017
How many times have you been in the field and frozen with fear while checking your project’s margins after closeout or momentarily panicked when getting unexpected pay orders, only to realize with dismay that they are completely legitimate?
Thanks to mobile, cloud-based solutions, there’s a less scary way for field teams to monitor project budgets with full visibility, minimal legwork, and less surprises.
The new generation of cloud-based field financial software takes the sting out of managing your budgets––putting project managers firmly in control of your bottom line. Construction financials shouldn’t be any more difficult than this.
Knowing this, why is it that only 52 percent of construction companies use mobile software to manage their projects?
Change can be intimidating if you don’t know exactly how much greener the grass is on the other side.
With today’s intuitively designed mobile solutions, mastering construction field financials is as easy as using a smartphone.
So how do you convince that other 48 percent of your field financial teams who are still hesitant to say goodbye to traditional ERP systems that are stuck in the office? Show them what’s in it for them!
Ah, the monthly joy that is a job costing report. For project managers, digging through point solutions for job cost records is never fun. Using a mobile budgeting solution makes creating job costing reports even easier and more efficient.
With custom reports and configurable budgeting tools, financial stakeholders have access to the insights they need to make informed decisions.. All you need to do is log in to your account, click a few buttons, and the report is automatically generated for you. With your job costing report no longer taking you days to complete, you can get back to doing what you were actually hired to do––manage your projects.
The old business model of forcing both accounting and field teams to work off of the same accounting software is inefficient and bad for camaraderie. It involves manually inputting, with tedious regularity, every bit of financial information received from the field, and the only other alternative is to relinquish control over financial data.
By going mobile, project managers no longer have to wait on the accounting department to receive the most up-to-date financial data, or be forced to work with antiquated job costing tools embedded in an accounting system. They’ll have the tools to manage a dynamic, living budget that provides a real time pulse on the financial health of their project, enabling them to deliver their project on time and under budget.
Mobile financial tools simplify the payment process for project managers by allowing subcontractors to electronically submit pay orders and automatically send you notifications when payments are overdue. Helping people get paid that much faster, and helping project managers avoid time-consuming phone calls or tasks that can easily be automated.
The days of struggling to keep up with change orders and bugging your superintendents to hand over updates are long gone, thanks to mobile technology. It's the easiest way to deal with transactions in real time, and keep track of what you owe others without payments piling up.
This might seem like a no-brainer, but many people don't take enough advantage of the mobile construction applications that are available. One of the biggest advantages of mobile technology is having the option to stay right where you are (wherever that may be).
See your budgets across your entire portfolio, from anywhere, at anytime just by logging into your software accounts. This means you can account for potential costs as they occur without having to go back to the office to enter in all of those changes at the end of the day. You don't even have to step foot on the jobsite to see what’s going on.
Financials are no longer simply a back-office function, but a task performed by both accountants and field teams alike. Thanks to the cloud, there are finally tools available to help project managers bring job costing out of the office and into the field.
That means, no more piles of post-it notes with change orders, goodbye to long drives back and forth between the office and jobsite, and full visibility over project budgets at all times.
You’ll effortlessly understand exactly where your project stands against the budget every day––saving time and effort on your part, while establishing reasonable financial guard rails to help you maintain a healthy portfolio of projects that your executives will appreciate.
mobile construction technology
Cloud-Based Construction Software
The Anatomy of a Request for Information (RFI)
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