This Construction Dive white paper provides contractors with the five steps to follow in order to properly adhere to new revenue recognition standards—and the overriding principles behind them.
In this white paper, you will learn more about embracing a single technology solution that allows contractors and owners to properly manage quality and safety across the enterprise, rather than project-by-project.
Measuring the return on investment (ROI) before pursuing any business project, especially something as integral as your ERP platform, is critical. While it may seem simple to come up with a calculation of a payback period where you’ll earn back your investment, there are often setbacks, such as hidden costs. On the flipside, there are indirect benefits like an increase in teamwork and quality of life for your employees.
Fit and functionality have always been the linchpin in selecting software that runs your business. When companies are asked to stack rank the priority of selection criteria for Enterprise Resource Planning (ERP) solutions, this is clearly at the top of the leaderboard, followed closely by the completeness of solution. While features and functions are indeed important, there is danger in making a decision solely on what you need today, because it might not be what or all that you need in the future.
Change can be a daunting challenge for employees—and for the managers who must lead through it. In 2017, it is impossible to run a business without the expectation of change, especially in technology. Learn more about adopting new technologies in this white paper.
The word “collaboration” is nothing new to construction business owners. From titans of industry to owners of local two-person subcontracting shops, entrepreneurs agree that companies benefit from collaboration. Learn more about what collaboration really means in this latest report.
When determining which investments to make in their technology infrastructure, organizations will oftentimes choose to make no changes at all, and continue operating as is. While this decision avoids short-term costs and business disruption, it often simply “kicks the can down the road,” making the inevitable day of reckoning even worse.
The lifeblood of any construction company is the construction project itself. How those projects are managed can make or break the company. That makes project managers (or in some companies, project sponsors who oversee teams of project managers) arguably the most important role in an organization. Whereas others may be responsible for tasks or defined roles on the project, project managers must be somewhat of a “jack of all trades.”
If repair, maintenance, ownership costs, and accurate meter readings are diligently recorded for each piece of equipment, a company can actually predict, rather than guess, their equipment lifecycles and optimal returns on investments. Creating historical data on the cost curves for owning and operating heavy equipment allows much more informed decisions about when to invest more in their fleet or when certain machines should be sold. Contractors can avoid the common problem of waiting too long to replace a piece of equipment. Using more informed data and metrics to create equipment benchmarks, they know when a machine will become more expensive to keep than it is worth.
Today’s information and decision-making are not the same as they used to be. The last 50 years of business technology have developed at an astounding pace—so quickly that it is hard to keep up. Download this industry white paper to learn more about the history of business intelligence and how it will be evolving in the future.
For a number of years now, there has been a lot of talk about collaboration, which has become a marketing buzzword and less of an idea of team unity. The problem with collaboration, like other words, is not the word itself but how it has been used. Collaboration, used as jargon simply offers no concrete examples of how we can effectively work better together.
It is clear that the most successful projects all have top level management that is fully committed to the project and visibly supports it by staying in tune with project progress keeping their involvement visible to the team and the entire company. Even though IT is an important participant in the selection and implementation of the system, they should not be the designated leaders – project leadership must come from the operations side of the business. After all, the users will have to live with the results and they will also dedicate the majority of the time and effort needed to bring the project to completion.