Use Modern Technology and Data to Drive Business Forward

The availability of state-of-the-art technology and easy access to data provides construction companies of all sizes with unique solutions that can help them to grow exponentially.
By Jen Cohen Crompton
April 19, 2017

As construction companies look to expand, it’s imperative that forward-thinking executives consider adopting modern approaches that transform business functions and drive growth. The availability of state-of-the-art technology and easy access to data provides construction companies of all sizes with unique solutions that allow them to grow exponentially.

Advanced technology often offers analytical insights that may otherwise be unrecognizable to the everyday construction executive. Technology and data-driven businesses can better assess their business functions from unique perspectives and apply resolutions that not only benefit the bottom line, but also promote an enhanced work environment. Construction executives who consider updating their accounting workflow may stand a better chance against the threat of an IRS audit, while those who leverage social media can improve customer relationships.

Construction executives should consider implementing the following techniques to better use technology and apply basic data recognition processes into everyday business workflows.

Transition to digital cloud storage solutions and eliminate manual receipt and expense organization.

Mobile apps and streamlined cloud solutions have replaced outdated sticky notes and paper files. These high-tech solutions allow users to store more information and make all must-have business information readily available.

Take a modern approach to your accounting workflow by moving to a cloud-based system.

Powerful accounting systems provide construction businesses with an easier way to keep up with the complex finances associated with running their business, which, in turn, allows them to eliminate costly errors and increase efficiency.

Eliminate manual data collection and develop a streamlined approach.

Today’s smartphones enable construction businesses to capture their most important business information with their device’s camera, so there is no need to keep that box of expense receipts or folder of old invoices. Mobile capture and PDF import technology automatically recognizes data, extracts the key information and organizes it, making business insights available that would otherwise go unnoticed.

Use social media channels to procure warm leads instead of relying on traditional cold calling.

Cold calling is an outdated approach that can yield inconsistent results. Instead, today’s construction businesses should target the warmest leads by analyzing data derived from social media.

Promote a collaborative work environment by leveraging cloud capabilities.

Today’s cloud technology makes the most important business information available anytime, anywhere. Being able to access all business information from laptops, smartphones and other connected devices lets employees communicate with each other from the office, jobsite or wherever they may be.

Technology and data trends are rapidly changing the landscape in which construction businesses operate, but it’s important that owners and managers consider the correct implementations when transforming their business. To evolve their business, it is important for construction business owners to view all workflow processes before pinpointing specific business functions that can be supported and enhanced by more modern technology that ultimately drives business forward.

by Jen Cohen Crompton
Jen Cohen Crompton, Entrepreneur-in-Residence at The Neat Company, has extensive experience with small businesses, including founding her own business, Something Creative, in 2008. Since joining The Neat Company, Crompton has worked as an ambassador to small business owners and managers by offering thought-provoking insights into how they can work smarter.\r\n

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