How General Contractors Can Leverage Technology to Grow Their Business

General Contractor
As a general contractor, you have a lot on your plate. Client outreach, supplier management, and hiring are a few of the many responsibilities you need to handle in addition to supervising projects to ensure they’re completed on time. In this article, we explore three types of software general contractors can use to automate key business tasks and streamline managing day-to-day operations.

Inventory Management Software

It is common for general contractors to work with multiple clients simultaneously. Additionally, each project will have varying requirements on the type and quantity of materials needed. To ensure that no project is hit with supply-related delays, it’s imperative to have a clear idea regarding your inventory levels. Here’s where an inventory management software can make life much easier, as it provides the following benefits:

• Real-Time Inventory Tracking: As and when materials are assigned to a project, the software will automatically update your inventory numbers. As reported by TechEngage, this significantly reduces the chances of supply-related delays and helps to create accurate project estimations.

• Ease of Procurement: Alerts can be set to notify you of nearing inventory shortages, whether it be for tools or raw materials. Based on reminders, timely procurement orders can be sent to suppliers for restocking.
• Track Supplier Performance: Using the software, reports can be created to track supplier performance in terms of quality of materials, revert times, and cost. Under performing suppliers can be replaced with new ones providing better services and reducing operational inefficiencies.

Employee Management Software

With multiple teams of employees working on different projects, manually keeping track of performance and labor requirements becomes cumbersome. Using employee management software helps stay on top of HR-related tasks and effectively manage the biggest asset of the business – your employees!

• Absence and Leave Tracking: Using the software employees can put in leave requests at their convenience. These can then be reviewed by supervisors and approved or denied based on project load or special circumstances.

• Timekeeping: Tracking working hours is an important requirement for all businesses. An employee management software serves as a centralized platform used by everyone in the company, including you, to clock in and out daily. If employees are eligible for overtime, reviewing the hours worked is important to adjust their paychecks and deductions.

• Reviewing Performance: Creating employee performance reports will provide a clear idea regarding the strong and weak aspects of the business. Low performance could be due to lack of training, poor management, or bad hires. Use these insights to improve internal practices, refine hiring procedures, and onboard experienced professionals to improve struggling business areas.

Cost-Estimating Software

A project estimate sets the tone for all future actions. As reported by ForConstructionPros, an accurate estimate will result in correct labor allocation, material procurement, and meeting timelines. Conversely, an inaccurate estimate will lead to delays, loss of revenue, and impact your relationship with the client.

Rather than creating manual estimates for each project, you can use an app to make the process faster and reduce the chances of error. For instance, for projects related to home building, with home builder software, you can:

• Create Tailor-made Estimates: Once you’ve created a construction plan, import it to the software. First, the software will automatically calculate the cost. The estimate can be refined by specifying the materials and amount of labor. Using costs included in its local database, the software will create an accurate estimate.

• Sharing Invoices: Estimates can be converted into an invoice, which can be edited to provide a personal touch for each client. This includes adding your branding, mentioning terms and conditions discussed over call, and a mutually agreed payment schedule.
  

• Receiving Payments: A major benefit this software provides is allowing clients to make digital payments through the invoice. This significantly speeds up your accounts receivable and helps to maintain reliable cash-flow levels.

Creating good client relations, keeping costs low, and using resources efficiently are the three keys to growing your general contractor business. Using the above-mentioned software will help you achieve these goals and drive your business to success.

Trust Singular Home Improvements to build inspiring spaces in your home and exceed your expectations. Get a free quote today!

By Emily Graham – Mighty Moms