With the construction industry in Australia booming, and the government planning to invest more than AU$50 billion dollars in infrastructure projects over the next 10 years, there has never been a better time to grow your construction business.
But in order to do this, you need a document management system that can grow with you, and that allows you to collaborate with subcontractors and partners effectively and efficiently.
In previous posts, we have discussed how collaboration is essential to success; how to standardize best practice; and the 13 signs that you need construction management software. Today we’ll discuss 5 key benefits of a cloud-based document management solution and why your construction business needs to invest in one today, no matter your size. We’ll also explore the risks of doing nothing and maintaining a status quo.
Benefits to a cloud-based document management solution
Cloud-based solutions, such as Aconex, provide cost-effective and efficient document management that allows information to be shared across project partners, designers, subcontractors and clients.
They can save you time and money and all you need is a web browser and a login to get started.
Using Aconex to manage your project information means you have better understanding and control across the entire project. Here are 5 key reasons to invest in a platform today:
Aconex brings a standard platform to your projects, allowing you to gain efficiencies across your business. It means that there is a single source of information for all project participants. No more wasting hours a day looking for most up to date drawings! This also means that when issues or complaints arise, you have a vigorous and complete document trail that you can rely on to support your case.
There are currently 31 million mobile devices – smartphones and tablets – being used in Australia. This provides us with a great opportunity to leverage this technology for your worksite. Our cloud-based document management solutions mean that all your project details can be accessed on site, in the palm of your hands. No more checking in with the site office to make sure you have the latest documents.
3. Quality Assurance
Our field inspection tools mean you can reduce time taken to inspect work, while checklists allow you to quickly identify issues and raise defects within the approved time frame. Your subcontractors can use our field inspection app to take photos and report on progress, and address and health and safety issues, before they arise.
4. Reporting and evaluation
The Aconex dashboard gives you a snapshot of project milestones – far better than any Gantt chart can. Early detection allows you to drill down if something doesn’t look right, see where the issue may be, and fix it quickly, avoiding costly delays and allowing you to concentrate on other work.
There are also productivity gains to be had in smoothing the process or RFIs and transmittals with our customers seeing decreasing response times for these projects when they are run on Aconex.
5. Industry standard
For larger construction projects, Aconex is the industry standard platform. If you’re looking to win larger contracts and compete with the high end of town, our software brings an added level of credibility to the technological maturity of your construction business.
Risks of poor document management on projects
According to a recent McKinsey study, the average worker spends nearly 2 hours a day looking for the information they need to do their job. And with construction salaries starting around $22 an hour for a laborer up to $36 for a foreman in Australia, that’s is a lot of money going down the drain. Money that should be spent in other areas of your business.
The time wasting, however, is not surprising, given that our research here at Aconex suggests that construction firms dealing in projects worth between $10 and $25 million are managing more than 45,000 documents, including revisions. And that doesn’t even begin to address the emails and other electronic communications relating to a project.
As you can imagine, not only is finding information under these circumstances burdensome, it leads to huge and serious risks around version control. In fact, the International Data Corporation (IDC) has found that a quarter of companies they surveyed believed they lost out on tenders due to poor document management.
- Communication gaps: You are pretty sure the architect said something about needing more structural supports or the roof would cave in. But where is the paper trail? Or was it just in passing over the phone? Poor document management leads to confusion that is embarrassing at best, and disastrous at worst.
- Legal ramifications: You need to ensure your document management complies with a variety of laws and Otherwise you may face criminal charges.
- Loss of information: Unfortunately, bad things sometimes happen. Computers crash, viruses cause files to be deleted; fire or flood destroy physical archives. Imagine having to tell the mechanical contractor that you have no idea how many cooling units are planned for the building?
Win projects and grow your business
Aconex has helped business globally to standardize their construction processes and drive efficiencies into their business. Whether your project is big, small, or somewhere in between, we can help drive greater collaboration and save you time to get on with the things that matter. Like winning more projects and growing your business.
Want to learn more about Aconex?
Contact one of our industry experts today to see how Aconex can help grow your business.