| Having the right tools for a job is almost as | | | | data as possible, for good reason. Today's market |
| important as having the skills necessary to | | | | moves faster than ever and new risks arise |
| complete the task. Yet, many construction | | | | every day, requiring decisions to be made in the |
| companies fail to see the need for a construction | | | | middle of the project that were not expected. |
| accounting software package that captures | | | | Would you rather make those decisions with the |
| payroll data in real time. No doubt they have the | | | | most accurate data you can possibly have or with |
| skills to complete the job, but this tool can help to | | | | old data and some estimates? |
| make that job more profitable. | | | | Beware, however, that too much real time data |
| Payroll is an inherent piece of any construction | | | | can be overwhelming at first. If you're used to |
| project budget and final cost. It reflects the | | | | working with the old system of old data and |
| manpower labor costs necessary to complete the | | | | projections, a wealth of real time data can be |
| job. As such, it is key to have this data at your | | | | intimidating. However, after an initial getting used |
| fingertips at all times and it needs to be as | | | | to period, you'll soon realize that real time data |
| accurate as possible. The most accurate way to | | | | leads is simply the best tool you can have when it |
| collect this data is in real time. Having real time | | | | comes time to make those on-the-fly decisions. |
| data allows decision makers to make sure the | | | | In a perfect world, every construction project |
| project is properly directed and helps them make | | | | would be executed exactly according to plans and |
| better decisions before and after deviations are | | | | would finish exactly on budget. However, |
| made from the plan. | | | | unexpected changes, weather, supply chain issues, |
| Estimating up to date figures is inaccurate and | | | | and other common hiccups lead to projects that |
| takes time, which costs money. The amount of | | | | rarely (if ever) follow the initial plan. |
| time it takes is often increased due to the pay | | | | For example, perhaps a big milestone is |
| structure of many construction companies - often | | | | approaching for a particular project and the |
| workers with more diverse skill sets receive | | | | supervisor realizes that he does not have the |
| higher wages. Calculating the potential costs for 12 | | | | personnel on hand that was planned to complete |
| workers for varying time periods that have | | | | the task. As a result, the supervisor has a |
| different wages can get confusing and will most | | | | different group complete the task. Thus, the |
| certainly take time away from activities that a | | | | actual cost of that piece of the project will either |
| manager could be doing that add value to the | | | | be over or under the budgeted amount. With real |
| project. | | | | time payroll data, decision makers will be able to |
| Real time data leaves no need to estimate or get | | | | see those different costs reflected in actual costs |
| confused about the financial impacts of using a | | | | as they happen. With this data, they can make |
| different labor force. Even data that is only a day | | | | the best possible decision for how to make up for |
| or two old can lead to ineffective monitoring of | | | | the overages and finish on budget or how to |
| the project's bottom line, which can result in | | | | continue to operate under budget. |
| decisions being made a day or two later than | | | | Construction software with real time payroll data |
| they should have been. The impact of these | | | | gives companies an additional bit of flexibility when |
| 2-day-late decisions on the bottom line can be | | | | executing a project. Since deviation from the |
| pretty big if you consider multiple decisions like | | | | original plan is more of "the rule" versus the |
| this made over the life of a project that lasts for | | | | "exception," being able to move forward with the |
| several months. | | | | project with the most accurate data possible is a |
| These factors have led construction software | | | | benefit that is most certainly worth having. |
| manufacturers to begin including as much real time | | | | |