With Brexit happening and Coronavirus hitting hard right afterwards, some may question the economic stability of the world. Still, the construction industry is one of the largest in the global economy, with around 10 trillion $ being spent on construction-related services and goods every year (and the number is increasing year-by-year). As spring knocks on our doors, we know that the building season is starting, so we are here for you - to help you make the most out of the existing market.

What are the main challenges you will face?

Well... let us take a good look at the construction industry now and list some of the main challenges for the general contractors worldwide:

  1. Labour shortage - according to the US Chamber of Commerce the U.S. general contractors reported that they are afraid of labour shortages. Also the Royal Institute of Chartered Surveyors (RICS) says the shortfall in the number of skilled construction workers in the UK is currently at its highest point since 2007. This is a worldwide problem that will take quite a long while to fix. Our suggestion is looking also to the women employees market - only 10-11% of the Construction Industry is female
  2. New tech and their adoption inside the construction industry - more and more construction companies look towards investing in cloud-based ERP systems. There is a general need for right-fit management software for general contractors. An ERP software package for the construction industry that could bring it all together and make the companies work smoother and make decisions faster. The construction industry faces more and more changes in the tech department and it is only natural, as all companies do their best to automate their processes and keep things in an online form and go paperless. General contractors (and all the parties in the construction industry) must do their part and invest, and think long term, when buying a cloud-based ERP system for their companies. I know you might think that will cost you time and money, but in the long run, the ERP software that you choose (if it is the right fit for you) will help your business grow. Adopting a management software for general contractors early (before others will) can give you the extra advantage you need in order to succeed! 
  3. Culture gap with the younger generations - let's face it! Each generation has its own way of working and behavioural trends. Young talent is very focused on technology and they can be the ones to help you choose and implement the correct contractor management software for your company. A cloud-based ERP system is a brilliant fit, as it allows you to work from any place and with any internet enabled device, at any given time (that works wonders, especially when we have the #StayAtHome policy, so as not to spread the virus further). The younger generation need to be involved when making the decision to buy management software for general contractors - they will understand it better, be more interested in implementing it and they will be more aware of  the pluses and minuses during and after implementation. 

Picking the right-fit cloud-based ERP system

Data from Market Future Research Reports (published Jan 2020) shows that the construction software market has been projected to reach 2,71 billion dollars by 2023. That means that choosing the right ERP software for the construction industry, the right-fit contractor management software for your company (for your team) will be a challenge. You should not take it lightly! Every year new tech appears and modifications (new releases) on current applications need updating on a monthly basis. Everything is changing! 

We know you need to substantiate and budget for the cost, when choosing the right-fit contractor management software, but we ask you to look ahead, think ahead, reap the benefit that spending an extra few pounds/dollars or euro, will bring you in the long run. With the right ERP software for the area of the construction industry you are in, you can stay ahead of your competitors and grow. The ERP cloud-based software on the market allows you to automate every phase of the construction management process. Project Management will be very easy to manage. You will optimise daily tasks, improve project delivery and you will be able to see (live) the financial health of your projects - at the first glance! 

ERP software for construction industry (General Contractors) - Choosing it! 

Choosing the right-fit management software for general contractors can be slightly easier if you choose to follow the tips we have here for you:

  1. What is your Budget? - be fair, reasonable and allocate spend at the very beginning, but don't be fooled by the price only. A few extra bucks will grant you access to a better ERP solution for your company, so think long term when making this decision!
  2. What are your company/team's needs? - have a talk with your team, make sure you understand what they do daily and how they would use the app. There is no such thing as one size fits all in ERP software for the construction industry! Every team, every company has its unique way of running the processes, that handling their workload. You need to make sure you find the right one for your team! 
  3. What are the potential candidates? Do you have a shortlist? - take a good look at the market and do a list of PROs and CONs. Once you have a shortlist, it would be great if you could run that list against your team and make sure you are all on the same page. Including them in the decision process will get them more attached to the final product and more willing to invest their time in the implementation process.
  4. What are the features of the ERP Software for the construction industry that you truly need? - think about what features your current solution is lacking. How can your team benefit from these features? What pain-points do you wish to fix? How much would those points be worth to you, how much will you invest to fix them?
  5. Data Security? - the ERP software for the construction industry available on the market, have tight data security built in. The new-age systems are cloud-based and you can be sure that the information stored is safe and secure (encrypted and stored - along with backup - on multiple servers that cannot fail). The provider should also make sure you can download the data at any time. 
  6. Scalability? - multitasking and working with multiple partners/entities is part of your daily work (struggle) so having ERP software specifically for the construction industry should allow you to scale up. That is inevitable and the way to move forward, so keep this in mind when selecting the ERP solution for your team! 
  7. Have you read reviews and referrals? - we often rely on friends, family and people we trust to make a decision. Selecting management software for your team is no different. We suggest you check tools that hold reviews of customers - like Capterra. It helps looking at other brands (even competitors) and seeing the tools that they are using. What solutions did they choose?
  8. What are the integrations offered? - when it comes to the integrations offered with the tool, you need to pay great attention, as implementation is extremely important and the company that provides the tool must pay attention to your needs - are there any tools you would like integrated with the new system you wish to onboard? You need to make sure that the new ERP system allows you to integrate easily with other tools you use (eg. accounting software). This will surely save you (and your team) time... and we all know, time = money.
  9. Are there any free trials offered? - contractor management software, by default, should offer a free trial. However, customisable software is available, that focuses on the flow of your processes, and their apps can be moulded according to your needs - those do not normally have free trials. Having a free trial allows you and your team to test the app... but don't eliminate the custom ones from your list - those are the hidden gems.

Investing in technology, like the contractor management software, can be quite an expense (especially with the fragile market nowadays). What you need to do is think of the future - the long run - and you will understand that your investments will pay off. All it needs is a bit of patience and time! The construction industry is realizing more and more each year how it can benefit from bringing the technology to serve on a daily basis.

Data from the latest report by McKinsey show that the $10 trillion global industry is among the least digitized industries. Choosing to adopt a Management Software system, (specific for general contractors and the construction industry) can give you the competitive advantage you need to be very successful in this market