When construction firms think about their overall use of technology, what should be their most important considerations?
Puneet Raj
General Manager
Fieldwire by Hilti
As the construction industry evolves, integrating technology and software into operations is essential for profitability. Construction firms should consider several factors to ensure their investments are effective and provide a competitive edge.
Ease of Use
This is the most important factor, as any chosen technology or software offering needs to be used by the employees of the company to generate value. Often, solutions from big name companies with lots of functionality can confuse users and lead to the technology not being widely adopted. The true test of craftsmanship of a solution lies in how quickly it can get adopted by your employees.
Scalability and Integration
Technology should be scalable and integrate seamlessly with existing systems, handling increased project complexity and user data as the firm grows.
Data Security and Privacy
Choosing technology that has compliance with global standards such as SOC2 and has built in access controls to protect sensitive information will help build trust with clients and stakeholders.
Innovation and Future-Proofing
Choose partners that have the ability to last and that are investing in R&D to help you stay abreast of industry advancements such as BIM and AI. An example is the Hilti Group—which spends more than $500M USD a year on R&D—and has software offerings such as Fieldwire for jobsite management and ON!Track for equipment management.
By considering ease of use, scalability and integration, data security, innovation and future proofing, construction firms investing in technology can make informed decisions that drive success and growth.
Woody Chamberlain
President
eMars Inc
A complete, robust, high-technology payroll system that does not require extra plug-in software—with extra cost—and extra training—with added employee hours is critical for construction companies doing business with the federal government.
Compliant Client by eMars is the total system for payroll executives. With minimum training, it easily lets users stay compliant with the Davis Bacon Act of 1931. Noncompliance can lead to heavy fines or jail time. The system handles tax reductions offered by the federal government. Refer to your tax professional for specific details.
Certified payrolls are an asset of Compliant Client. Red flags alert the user of noncompliant entries.
This system can handle an employee with variety of job titles, each job having a unique pay scale at a different jobsite all during the same week.
Purchase of reams of paper throughout the year is eliminated with Compliant Client. A trail of the users’ activity is stored in the web-based system that does not take up valuable space in the users’ computer.
The payroll manager will know when the system was used, by a particular user and what information was entered or changed.
Security of the system is a top concern. All of the information put into our system is encrypted. Encryption secures information from online hackers. We have various levels of defense installed into Compliant Client. Construction companies with 5,000+ employees and organizations with a handful of employees use Compliant Client. In 2024, Compliant Client quickly handled 487,029 payrolls from 50,000+ companies. How fast is quick? 3-minute Friday payrolls are commonplace with Compliant Client.
Affordable. Robust. Easy to use. Encrypted. Paperless. Web based. Certified.
How are contractors using fintech to improve cash flow, manage payouts and reduce profit fade?
Steve Antill
Chief Revenue Officer
Foundation Software
Fintech is such a valuable tool that improves a contractor’s day-to-day operations in so many different ways. From a payment perspective, fintech simplifies the accounts payable process while also accelerating transactions on the accounts receivable side. Additionally, fintech can help hire employees with payroll programs like early wage access and paycards.
Some specific ways I’ve personally seen contractors use fintech in the industry include:
Expedite Speed to Cash to Reduce Profit Fade—Contractors leverage fintech solutions to better handle epayments. They can send their invoices and immediately process payments through a secure online portal. Next, the ERP solution will pull the transaction in via API connections. Contractors can then see the financial impact before making profit-saving decisions.
Effectively Manage Payouts—Fintech lets contractors handle their own outstanding invoices with secure digital payments to their vendors and subcontractors to avoid disputes and project delays. It’s actually quite easy. Contractors select the specific invoices needing to be settled and make automated payments through the system via virtual cards or ACH.
Monitor Cash Flow Closely—Real-time data is essential for good forecasting. Using fintech software, contractors can proactively manage incoming and outgoing funds and immediately factor them into their business’ larger financial picture.
This level of financial transparency helps contractors more effectively manage their company’s cash flow to maximize profitability and productivity.
What type of preconstruction technology should contractors consider utilizing and why?
Craig Tate
Chief Executive Officer
RedTeam
When considering preconstruction technology, contractors should look for solutions that provide more than just basic project tracking. The right technology helps teams work together smoothly from the start. It makes it easier to plan, communicate and execute things correctly. Preconstruction is a critical phase where small decisions can have a significant impact on a project’s outcome. A complete solution that includes estimates, budgeting, scheduling and document management helps contractors make smarter decisions early on, avoiding costly mistakes later.
Technology that connects every aspect of preconstruction—from bid preparation to design and procurement—creates transparency, ensuring all stakeholders are on the same page. By using software that enables real-time collaboration, contractors can reduce the risk of miscommunication and streamline processes. This leads to better project visibility and tighter control over timelines and costs.
Adopting preconstruction technology isn’t just about staying current with trends, it’s about gaining a competitive edge. With the right tools, contractors can mitigate risk, optimize workflows and ultimately set their projects up for success. In an industry where margins are thin and timelines are tight, investing in technology that supports efficiency and collaboration is no longer optional—it’s a necessity for long-term success. Platforms like RedTeam provide these capabilities, enabling teams to stay ahead and deliver on their promises.
SEE ALSO: EXECUTIVE INSIGHTS 2024: LEADERS IN CONSTRUCTION TECHNOLOGY
