Investing In Technology Can Protect Your Business
One of the phrases we hear many times when talking to our construction clients is that “this is just the way we have always done things.” We are also sticklers for tradition and staying with equipment and processes that have proven their value over the years. But as business experts and risk mitigation analysts, we also understand the value of allowing new technology to protect your business.
There is only one way to properly use a screwdriver, but there are thousands of ways to protect your jobsites. When we talk to our construction clients, we always make a series of recommendations on new technology that can reduce risk, and help those clients to make more on their bottom lines.
One of the big misconceptions we hear from our clients is that investing in brand new equipment is useless because someone will just steal it. Meanwhile, the old equipment with antiquated security features on it keeps disappearing from the jobsites.
The newer construction vehicles and pieces of equipment are coming equipped with extremely advanced security systems that are reducing theft and loss for companies around the country. Your company needs to look into the newest equipment to make sure that the investment you make in doing the job right doesn’t disappear from your jobsite overnight.
Computerized Employee Monitoring
The good old time clock still ticks away for many companies, but those same companies are losing money because of what those time clocks cannot do. A modern employee monitoring system can make sure that employees actually check in, and employees do not get credit for hours they do not work.
High-technology site monitoring equipment can keep an eye on your expensive gear, and it can also keep an eye out for employees who are violating company safety policies, or trying to fake an accident to get worker’s compensation. A minor investment in new employee monitoring equipment can go a long way towards improving the company’s bottom line.
Project Management Equipment
Do you ever wonder how much money your company loses each job to lost or stolen materials? Have you ever stopped to think how much more efficient your field supervisors could be if they knew where each project milestone was and what needed to be done to reach those milestones?
With computerized and modern project management equipment, you can keep your field inventory accurate and keep all of your supervisors updated in real-time on what needs to be done to move a project ahead of schedule. Instead of facing the prospects of daily liquidated damages because the project has fallen behind schedule, you could be looking at getting off the project ahead of schedule and getting on to the next one.
There is some truth to the idea that the best ways to do things are the ways that have worked for years. But when you can improve the efficiency and performance of your company by bringing in modern equipment and methods, then that means more money in your profit margin.
As business consultants, we are constantly recommending new technology to our construction clients in the hopes that they will adopt that new technology and use it to its maximum potential. Not only does utilizing new technology reduce risk, it also increases your company’s ability to be the very best it can be.