Construction companies in general construction as well as utility, highway, and heavy construction are seeing an increasingly shrinking customer base paired with a constant risk of lawsuits, high insurance costs, and skilled worker shortages. In the face of these challenges, staying profitable is dependent on finding new ways to improve efficiency, eliminate cost overruns, and monitor cash flow.
One of the best ways to accomplish construction efficiency is to manage the flow of information. Providing the ability to quickly access data from any location while keeping information organized and eliminating unnecessary and extraneous work simplifies data management and improves collaboration for better efficiency.
Here’s how your company can turn data into more of a low-cost asset.
Provide real-time data access to all employees
Efficient project management relies on having real-time access to data. Employees at all levels need to be able to see when changes are made to documents quickly while their managers have to track the costs of labor, materials, and equipment. The problem with old or outdated information is that it clutters file servers and costs a lot of money to maintain.
Integrated data management systems that are web-based and can be accessed seamlessly by end users in all locations change all that. They make it easy for workers to retrieve information from company servers quickly, and any modifications are immediately visible to all. This helps to prevent duplication of services and cost overruns while also improving real-time collaboration. e-Discovery searches that provide project information quickly also help to eliminate the costly paperwork slowdown that so often occurs, which leads to faster data access overall.
Establish automated protocols to eliminate administrative costs
Many construction companies are either underutilizing their data or spending too much on storage. If you’re looking for a way to organize your data that will help you attract new business or manage current projects more efficiently, try establishing automated protocols. No longer will different departments need to store data on their own database or file servers.
Greater efficiencies can be realized by centralizing data on a state-of-the-art data management system that automatically organizes files based on pre-defined policies and protocols. Doing so turns unstructured data into something more meaningful, accessible, organized, and cost-effective.
Eliminate extraneous information from your systems
It’s been said in the construction industry that “motion is money,” and although this statement originally referred to a risk of physical injury, it can also be applied to data management. The more effort that is put into maintaining data that is no longer valuable and the more storage space is allocated to that information, the higher costs become.
By implementing automated processes that move less relevant or valuable information to more affordable storage options, and by de-duplicating and compressing data, greater efficiencies are realized and less administrative costs are incurred.
Constructions companies are in a competitive space. Data volumes are often high, and finding new ways to improve efficiency is often a struggle. Archiving project data helps improve construction companies’ overall efficiency and lowers costs.
ShareArchiver works with construction companies worldwide to ensure that their vital data is stored in a format that is easily and immediately retrievable, secure, and optimized for backups. Get a free quote today, or call us to schedule a demo or learn how we can increase your efficiency and improve your bottom line.