In the construction business environment, new and updated technology is essential to staying ahead of the competition, growing revenues and keeping customers coming back for more.

One key innovation is mobile devices, which are now ubiquitous in the workplace and at construction sites. Construction executives realize that mobile software can increase efficiency and offer easier access to information. As companies develop and implement mobile strategies, employees in the field are already downloading and installing a variety of important business applications.

Construction companies are rapidly deploying mobile technology to simplify and automate the capture of information in the field and integrate the data back into company systems. Reducing inefficiencies on any single active construction project can significantly increase productivity, reduce costs and improve the bottom line. Better project results lead to more profitable companies.

Unfortunately, many construction companies still run on technology purchased decades ago. While some solutions may still work well, technology moves quickly and renders older systems redundant or inefficient. It’s an exasperating reality, but the only way to stay ahead of the competition is to keep systems updated.

Most construction accounting systems were developed in the 1990s and now struggle to keep pace with the way construction businesses are evolving. This forces many companies to adapt their businesses to existing legacy systems, leading to inefficient processes that limit the entire organization in the form of higher costs and less satisfied customers. Moreover, these accounting and construction systems will only talk to each other by way of custom integrations that are cumbersome and expensive to maintain. Even in the best of scenarios, most business data are difficult to access from the field.

Making matters worse, these outdated systems may be using virtual private networks (VPNs) or Citrix to give field teams remote access to key project cost data. These technologies come at an added cost. Field teams may also be using a wide range of apps that don’t talk to each other, which means they must log onto multiple apps every time there’s a problem or question. Either way, competitors are likely investing in new technology to allow more rapid responsiveness to customers and strengthen relationships with potential new clients.

There’s clearly a need for construction companies to invest in technology that can deliver information on demand–anywhere–and keep pace with the changing needs of this ever-evolving industry.

Cloud-based computing gives users access to software applications that run on shared computing resources via the internet (for example, processing power, memory and disk storage). These computing resources are maintained in remote data centers dedicated to hosting various applications on multiple platforms. Cloud construction accounting software is SaaS that allows users to access software over the internet. It generally has much lower upfront costs than on-premise construction accounting software because companies can lease computing resources by the month rather than purchasing them outright and maintaining them on premises. Cloud construction accounting software also provides access to business-critical applications at any time from any location, given the essential nature of mobility.

Consider the time savings possible with cloud construction accounting software. With a legacy or on-premise software, employees in the field must enter data twice: once on location and again when they reach the home office. This double data entry opens the door to errors that are irritating and time-consuming to correct. With cloud construction accounting software, employees simply enter the data on their mobile devices and the information is automatically synced back to the cloud software.

The cloud’s greatest advantage might be its ability to deliver real-time data to users across multiple locations. Construction firms with several locations can communicate and collaborate using real-time data, and remote workers or employees in the field can stay connected to the most up-to-date insights. Field employees can update RFIs and project issues, which helps reduce project delays and increase customer satisfaction. When employees have access to complete, current information, their productivity increases, communication improves and the entire construction cycle runs more smoothly.

With mobile cloud construction accounting software, users can easily enter, access and share business information through handheld mobile devices. This ensures real-time access to data without any significant investment in infrastructure or setup. Simple mobile software applications coupled with the flexibility to use them anywhere enables business decision makers to stay informed at all times. An ideal mobile construction accounting tool should be able to streamline communication for enhanced work collaboration and greater productivity.

Delays and rework in commercial construction projects can cost millions of dollars in lost revenue and negatively affect a company’s reputation. While most companies can’t predict the weather conditions or plan accurately for the red tape around permitting and licensing, at least managers can use mobile delivery apps to organize and sync operational activities. For example, a construction manager in charge of various jobsites can follow accurate, real-time costs across all projects and company operations—on the jobsite or in the office. The ability for construction managers to see real-time information and monitor multiple jobsites through mobile technology can reduce incidents and project delays. Having this critical information helps managers keep construction on schedule by bringing issues to light that might otherwise put projects on hold.

In the past, paper-based processes, such as timesheets, project tasks and other activities, needed to be completed back in the office. As a result, there was often inefficiency and misalignment among project stakeholders. Today, cloud-based applications can streamline information between teams in the office and out on a jobsite. Changes made in the mobile app to items such as RFIs, project issues and timecards are updated and synced in the cloud construction accounting software automatically. This helps ensure that the business will run smoothly. It can also proactively alert a team of any issues and ensure effective collaboration across all mobile devices. When everyone has access to the same information at the same time, it reduces delays and ensures that important issues will be addressed immediately.

Without mobile technology, the back office has no idea what the field workers are doing until they come in and do paperwork at the end of the day. This can lead to a culture with a lack of accountability. Mobile technology allows project managers to track time spent on the jobsite, and to keep better time cards that will save on labor costs.

With real-time updates and notifications, the data entered on a smartphone, tablet, or PC in the field will instantly feed into the accounting system. With workflow capabilities, finance staff can review and approve data such as payroll before updating the system. An employee can easily capture expenses on a smartphone and route them to a supervisor for approval, saving time and ensuring that expenses will be paid in a timely manner.

Companies using mobile cloud construction accounting software also report improvements in data accuracy. Employees can enter data quickly and share it effortlessly with everyone in the organization. Mobile cloud technology can minimize or eliminate mistakes by reducing the need for redundant data entry.

With cloud construction accounting software, companies can also track business operations across different work departments and locations right from mobile devices. Unlike paper forms, mobile apps enable customization of documentation and creation of reports in the field. It becomes easier to anticipate demand and plan business processes accordingly, a critical element of success. It’s certainly a new era for business operations technology in the construction sector, and those who don’t keep up risk being left far behind.